Spend money

1. From the Banking menu, choose Spend money.

2. In the Category field, choose how the payment is to be made.

   • If you are paying electronically—that is, you're paying a supplier directly into their bank account—choose your electronic clearing category as the Bank account. The Bank statement text will then become available.

   • If you're paying by some other means—such as by cash, cheque, credit card or internet banking—choose the category you're paying from. Note that only a banking category (that is, a credit card or bank account) can be selected.

3. If you want, choose the Contact (payee) you’re making the payment to. If you'd like to add a new contact, click the dropdown arrow for the Contact field and choose Create contact. Find out more about Adding, editing and deleting customers and suppliers.

4. (Australia only) The status of the ABN you've entered in the contact's record will checked, and the status shown. Click the status to see more details.

5. (Australia only) If this is a reportable contractor payment, select the option Report to ATO via TPAR.

6. Enter a Description of transaction. This should describe the overall nature of the transaction—for example, one payment may be for a number of items (e.g. a monthly invoice for office supplies).

7. (Australia only) If you're paying a supplier directly into their bank account by generating an electronic payment file for this payment, enter your own unique reference in the Bank statement text field. This text will appear on the payee’s bank statement.

8. Make sure the Reference number is correct. If not, enter a new number.

   Changing the numbering

   If you change the reference number, you’ll change the automatic numbering. For example, if you change the number to 000081, the next time you enter a transaction the new reference number will be 000082.

9. Check that the correct date is chosen in the Date field. If not, enter a new date or click the icon next to it to display the calendar and choose a date.

10. Choose whether the transaction amounts are Tax inclusive or Tax exclusive.

11. Enter the details of the transaction:

    1. In the Category column, choose the category to which the payment amount will be allocated. The tax code for the chosen category will appear in the Tax code column (but you can change this if needed). If you'd like to add a new category, click the dropdown arrow for the Category field and choose Create category. Find out more about Adding, editing and deleting categories.

    2. In the Amount column, enter the amount you want to allocate to this category.

    3. (Optional) If you need to record the quantity of this expense, enter it in the Quantity column.

    4. In the Description column, add a short description about the item for which you’re making a payment.

    5. (Optional) Choose a Job if the line item relates to a specific job. Tell me more about jobs.

    6. If required, change the Tax code.

    7. If you’re making a payment for more than one item in this transaction, repeat step 9 for each item. To delete a line, click the delete icon  for that line.

12. (Optional) To attach a related document to this transaction, upload or drag files into the Attachments section. Learn more about attaching documents to spend money transactions.

13. Check that the total amount you’re paying is equal to the total amount displayed at the bottom of the page, including tax or GST. If it’s not, check that you’ve entered the correct amounts.

14. If you want, you can save this transaction as a recurring spend money transaction. This is ideal for recurring expenses, like subscriptions or rent payments.

    1. Click Save as recurring.

    2. Enter the recurring transaction Schedule name.

    3. Choose the Frequency, such as Daily, Weekly or Monthly.

    4. Choose the date the recurring transaction will start.

    5. Select how many times you want the transaction to recur.

    6. Click Save.
       For more information on recurring transactions, see Recurring transactions.

15. When you're done, click Record, or if you need to create another spend money transaction, choose an option under Record and new: 

    

    • Click Record and create new to record the transaction and create a new one

    • Click Record and duplicate to record the transaction and create a new one with the same details (which you can then edit).

1. From the Banking menu, choose Find transactions.

2. Click the Transactions tab and filter the transaction list as required.

   1. For the Transaction type, select Spend money.

   2. Enter a Date from and Date to to find transactions within a date range.

   3. Enter all or part of the transaction's Description. Matching transactions will be displayed.

3. Click the transaction's Reference number to display its details.

4. Make the required changes to the transaction. If the transaction:

   • has not been reconciled or matched, you can change any details you require.

   • has been reconciled or matched, you can change everything except: the category you're paying from, the date, the reference number and the total amount of the transaction. You can change the amounts of individual line items, as long as the Total Amount shown at the bottom of the page remains the same.

   • If you need to change any other details, you’ll need to unreconcile or unmatch the transaction before editing it. See Undoing a bank reconciliation and Matching bank transactions for more information.

5. Click Save.

1. From the Banking menu, choose Find transactions.

2. Click the Transactions tab and filter the transaction list as required.

   1. For the Transaction type, select Spend money.

   2. Enter a Period or a Date from and Date to to find transactions within a date range.

   3. Choose the correct Category.

   4. Enter all or part of the transaction's description in the Search field. Matching transactions will be displayed.

3. Click the transaction's Reference number to display its details.

4. Click Delete at the bottom of the page. A confirmation message appears. If the transaction has been reconciled, deleting it will affect your next bank reconciliation.

5. Click Delete to the confirmation message.

If the deleted spend money transaction was created from a bank feed transaction, you'll need to match the transaction again.

One way to handle this is to create a "Cash on Hand" bank category in MYOB (how do I create a category?). This category is used as the allocation category when you withdraw the funds from the ATM or get cash out, which in turn will increase the amount in the Cash on Hand category. You can then use the Cash on Hand bank category as the Bank account when you record the spend money transaction.

This solution might not suit all businesses, so if you're not sure it's best to discuss the right solution with your accounting advisor.

Only banking accounts can be selected as the Pay from account in the Spend Money window. This include clearing accounts for electronic payments. Banking accounts have a Bank (for 1-xxxx accounts) or Credit Card (for 2-xxx accounts) account type. If you can't select an account in the Spend Money window, check the account set up (Lists > Accounts > select the account and click Edit). Here's an example of a bank account.

To delete a line from a Spend Money transaction:

1. Click to highlight the account number for the line to be removed.

2. Press the Delete key on your keyboard.

3. Click into a another line. The line will be removed.

   

The default number shown in the Cheque No. field is the next available number. When you click in the Cheque No. field, Auto # appears to confirm that the number has been automatically selected for you. You can type a different number into the field if you want. Subsequent cheque numbers will then increment from the new number. If your cheque number includes letters, the letters won't automatically appear in subsequent cheque numbers (you'll need to enter these each time).

There's also a preference you can turn on which prevents duplicate cheque numbers being used (Setup > Preferences > Banking> Warn for Duplicate Cheque Numbers).

The error "You have indicated that the transaction is to be paid electronically" in a Spend Money transaction occurs if the account selected in the Pay from Account field has been incorrectly set up as your bank account for electronic payments.

To prevent this error:

Check which account has been set up as your bank account for electronic payments by going to Setup > Linked Accounts > Accounts and Banking Linked Accounts.

Here you can see the wrong account has been selected in the Bank Account for Electronic Payments field (in this case a main bank account has been incorrectly chosen).

This needs to be set to the bank account you use for electronic payments. Even if you don't use electronic payments, this field should not be set to any of your main bank accounts.

You can add attachments to your spend money transactions, making it easier to meet your compliance requirements and go paperless. Here’s how: 

1. Click Attachments in the top bar in a spend money transaction. 

2. Click Add documents.

3. Select your file from the window that appears.

4. Close the Spend money attachments window (where you see your attachment). 

5. Click Record in the Spend money window.

Learn more about attaching documents to spend money transactions.

Yes, you can create a Spend Money transaction from a document in the In Tray. See Attaching documents to purchase transactions.