Cash Entries with Taxes: General Information

In MYOB Advanced, you can record cash entries—that is, cash transactions that involve items being bought or sold, but customers and vendors are not recorded in the system. Transactions of this type affect only the balances of general ledger accounts.

On the Entry Types tab, of the Cash Accounts (CA202000) form, you specify a tax zone for a particular cash account and a particular entry type. When you create a taxable cash entry on the Cash Transactions (CA304000) form, the system automatically applies the specified tax zone to all cash entries with this entry type and cash account specified. You can override the tax zone in a particular cash entry, if needed. The taxes assigned to the tax category used by the specified tax zone are automatically applied to the cash transaction line and are shown in the Tax Total box in the Summary area of the Cash Transactions form.

Learning Objectives

From reading the topics in this chapter and completing the process activity, you will learn how to create a cash entry and apply a tax to it automatically in MYOB Advanced.

Applicable Scenarios

You create a transaction of the Cash Entry type to record a cash operation that involves taxable services or a cash sale of at least one taxable non-stock item.