Clearing an order that has a payment applied to it can sometimes be tricky in MYOB. It involves a lot of steps that MUST be followed in a particular order.
Step 1. – Change security settings in the "Setup" then "Preferences" so that transactions cannot be changed, they must be reversed. Reverse the original Order/Purchase.
Step 2. – Click on Returns and Debits tab in the purchases register , then click “Apply to purchase” and apply reversal to original purchase (Making sure you apply the full Amount – this will then create a credit memo for the supplier)
Step 3. – Click on the returns and debits tab in the purchases register, then click “receive refund” for the payment amount. (Amount previously applied to the Order). This will credit back into the bank account.
Step 4. – Go to the closed invoices for the supplier and click on the closed reversal, reverse this transaction to get you back to the beginning! (Open invoice with no payments or deposits applied)
Step 5. – Process payment as normal ensuring you have the correct rate (if using multi-currency & preferably using a contra bank account).
Step 6. – Process payment from the contra bank account to the Cheque account.
Step 7. – Clear Debit and credit transactions on bank reconciliation (This will now be on both sides)
