There's a new Freight field that lets you easily record freight costs associated with sales and purchases. You can enter your freight cost (and the tax component of freight is calculated automatically):
The Freight field is available in:
You no longer need to enter freight as a line item
Instead of listing freight costs as a separate line item in sales and purchases, just enter the amount in the Freight field – it's a lot simpler!
How the Freight field works
The Freight field works with a linked account. Linked accounts are the default accounts used for various functions in MYOB Business. They work behind the scenes to make sure that the right accounts are used consistently and correctly. They also save you having to choose an account every time you use a function. There are two freight linked accounts you can use: an income one for sales and an expense/cost of sales one for purchases. Find out more about linked accounts.
Switch it on
It's easy to switch the Freight field on. You can either set it up when you enter a transaction, by clicking Set up freight account, choosing your freight account and then entering the freight cost in the Freight field:
Or, you can set up the Freight field by going to the Accounting menu > Manage linked accounts > Sales/Purchases tabs and choosing an account for freight income or costs:
The Freight field will then be available every time you enter a transaction.
The Freight tax code is the tax code assigned to the freight linked account. You can change it by clicking it and choosing another: