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How to Create a Contra Account in MYOB Accounting

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How to Create a Contra Account in MYOB Accounting

2,731 views October 25, 2015 0:50

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ChannelKen Leong

Description from the creator

Assume that your customer is also your supplier. You would reduce your outgoing cashflow by using contra account. This video shows the steps for creating a Contra Clearing Account.

To learn how to contra payment, refer to the youtube video link.
How to Contra Customer and Supplier payments in MYOB Accounting(Singapore and Malaysia version)
youtube.com/watch?v=SwXYqZNG6T0


Go to this video link if you want to rename the Account Name.
youtube.com/watch?v=4eTGFlIhNaU

About this tutorial

Ken Leong published this 0:50 video tutorial on October 25, 2015. It has been watched 2,731 times on YouTube.

Channel
Ken Leong
Duration
0:50
Published
October 25, 2015
Views
2,731
Likes
4

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Further reading

  • Contra Payments - MYOB Community community.myob.com

    The only way I could think of you recording that situation would be using the following process (others in the MYOB Community may have a different opinion and I welcome them to post): Create a Contra account via Account…

  • Dealing with a supplier who is also a customer - MYOB AccountRight ... help.myob.com

    First, you need to create a separate customer and supplier card. You then record sales and purchases against these cards. This is the same process as you usually do. When it comes time to pay, you record a contra paymen…

  • Contra deals in RetailManager - Support Notes: MYOB Retail POS - MYOB ... help.myob.com

    Click Accounting then click the Banking Export tab. Click Create. Enter Contra as the name of your Export Group. Enter the corresponding account number in A/C code field. This is the account number you created in your M…

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