20th of the month payables procedure (To Do List method)

This method is popular for those who have large numbers of payments to make on the 20th & need a speedy process.

  1. Enter all purchase invoices for the month
  2. Print an Aged Payables [Detail] Report
  3. Tick off each purchase that you intend to pay on the 20th (you should collate/reconcile the relevant invoices/statements behind the report, ensuring they are authorised to pay)
  4. On the 20th, check that MYOB is ready to use the next cheque number or for internet payments you may wish to let the numbers be system generated & run sequentially.
  5. Select To Do List, A/P
  6. Click in the Action column beside each purchase you intend to pay
  7. Click Pay Bills (MYOB automatically collates the purchases to be paid for each supplier into one cheque and enters the Supplier Payment against the invoices, using the system date of your PC)
  8. Print a Chequebook Register report for the 20th, sorted by ID
  9. Write out the cheques accordingly or make your payments via bank transfer.

Note: We may use this method to create a payment ‘batch’ for our bank. Check your linked accounts are set up correctly and test the method first in Clearwater or with a couple of dummy payments.

Lynley Averis

Lynley is an MYOB Certified Consultant & has been involved in training in New Zealand since 1985. She's written various accounting & MYOB workbooks including co-authoring “Bookkeeping for Dummies”. She has consulted on all versions of MYOB Accounting, Retail and Payroll over the past 18 years and has previously worked for MYOB. She currently consults to NZ businesses on all aspects of business systems - her mission for clients is for them to spend as little time as possible doing accounting!

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