CrackerJack Insights

Category: MYOB

How to record a refund for merchandise inventory in MYOB

Posted on by Kelly Totten

Recently, I received this question:

The situation:

I bought inventory and pre-paid the invoice with a credit card. When I received the inventory, they said they had misquoted me and refunded me $50.00 on the order. The refund was made back to the credit card that was used to pay for the order.

The question (in two parts):

  1. This is a refund on the the whole order, not just a handful of the inventory items  (i.e. I am not returning anything, I’m just getting some money back on the job overall). Do I handle that by using Bill–>Misc and entering negative $50  as the bill, which generates a return credit to me? AND
  2. If I do that, I am then being asked to to apply that $50 to one of my accounts, but which one?

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Mac Love…yes, even for accounting!

Posted on by Kelly Totten

I’ve been supporting the accounting needs of mac users for quite some time. Until last week, I was using my mac mini to help those clients. I foolishly bought a mac mini because I already had a pc laptop and, like it or not, most accounting is done on the pc platform.  And I didn’t want to spend the money fully transition.

Last week, a windows update corrupted my computer. I don’t know what’s wrong with it. It has numerous issues and I’ll have to reinstall the operating system (man, I hate Vista). To get up and running quickly, I transitioned to the mac mini.

I LOVED it (except being chained to my desk and only having one monitor). I said “to heck with the budget, I NEED a MacBook”. Seriously. I know, I’m an accountant. I reason that I’m much more efficient on one machine rather than two. Plus cut and paste between the virtual machine and the mac is awesome!

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