In MYOB, purchase returns include goods returned, services not used or received, or debits given for bill overpayments.
First, you need to create the return as described below. Then, you can either apply the return to an unpaid bill, or record a refund. For more information see Processing purchase returns.
If you have no unpaid bills from the supplier, and don’t want an immediate refund, you can create the return now and process it in the future, against the next bill from that supplier.
Creating a purchase return is very similar to creating a regular bill, but the values will be negative.
To create a purchase return
Go to the Create menu and click Bill.
A Bill number is automatically generated, based on the last number used. If you want, you can change this number.
If you change the bill number, you’ll change the automatic numbering. For example, if you change the number to 000081, the next time you create a return, MYOB will display the new return number as 000082.
Choose the Supplier the return is for. The supplier’s address details appear in the field below.
Check the date in the Issue date field.
Select whether the amounts in your bill are Tax inclusive or Tax exclusive.
Click Field layout and select the applicable option based on what you're creating the return for.
Enter details of the return:
If the return contains items, enter the No of units being returned or credited as a negative number and the Unit price as a positive number.
If the return contains services, enter a Description of what's being returned or credited.
Enter the Amount of the return as a negative number.
Repeat from step 6 if additional lines are required.
If required, change the Tax code. If you're not sure, check with your accounting advisor.
Repeat from step 7 for if there are additional items or services being credited.
Enter any charges for Freight, and if required, change the right Tax/GST code. If you can't enter Freight, you'll be prompted to specify a linked category for freight. (What is a linked category?). The totals are calculated at the bottom of the return:
Subtotal—the total for the items added to the return
Tax—the amount of tax or GST applied to the return
Total—the subtotal amount plus the tax or GST amount
Amount paid—the total of any return amount already paid
Balance due—the total minus the amount paid.
If you have a batch of returns, you can click Save and create new at this point and repeat the above steps for each supplier return, and process the returns later.
If you have a batch of returns, you can click Save and create new at this point and repeat the above steps for each supplier return, and process the returns later.
Check that all the information in the return is correct.
When you're done, click Save.
You can now process the purchase return by receiving a refund or applying it to one or more of the supplier's open bills.