When editing a transaction in MYOB, there are several options in which you can make changes to. But out of all these options, there are at least 5 crucial areas to take note of before you decide to go ahead with the changes. Here’s what to remember:
- Settings
To allow changes to transactions, users are required to change the security preferences of their company files. Locate the ‘Set Up’ menu and choose ‘Preferences’ to open up the ‘Preferences window’. Once you have completed that, choose the ‘Security’ tab and uncheck the option for ‘Transactions can’t be changed’. Keep in mind that while doing so, you may be able to edit only some fields of your transaction, not everything.
- Cash Receipt
The first step of correcting cash transactions would be to locate and display the specific transaction using the ‘Find Transactions’ or ‘Bank Register’ window. Click on the ‘Zoom arrow’ icon next to the transaction you are looking into so that it opens up the details. Select ‘Amount Received’ from the ‘Receive Payments window. Delete the incorrect receipt by choosing ‘Edit’ and ‘Delete payment’. You will then be able to correct the cash receipt by re-entering it through the ‘Receive payments’ option through the Sales command centre.
- Customer Name (Paid Invoice)
Locate the transaction invoice you wish to edit through the ‘Find transactions’ window or ‘Sales register’ window. Once you have located the window, open up the details of the invoice with the zoom arrow once more and double check all areas, especially the customer name in the Sales (Edit item) window. Delete the incorrect invoice and record the correct one under the right customer name. Make sure to check that all details are right before saving.
- Customer Name (Partial Paid Invoice)
Locate the ‘Sales Command Centre’ from the ‘Main Command Centre’ and choose ‘Sales register’ to locate the relevant transaction details. Once you have done so, delete the invoice from the transaction records by locating the cash receipt that has been applied to it and deleting that. Once you have deleted the receipt, you will then be able to delete the invoice entirely or choose to modify the customer name from the step above.
- Restricted
Most transactions can be changed and are shown with the zoom arrows. However, there are certain transactions that cannot be changed, only reversed. These include: Refund cheques, employee pay, money transference transactions, bank deposits that have been recorded, transactions recorded in closed financial years and transactions recorded in locked periods.
Your only option would be to reverse these transactions.
