This support note applies to:
- AE Practice Manager (NZ)
- AE Practice Manager (AU)
- AO Practice Manager (NZ)
- AO Practice Manager (AU)
In MYOB Practice Manager (MYOB PM) there is no option to automatically charge interest on overdue debtor balances.
Interest can be charged by entering a miscellaneous charge with a zero tax rate.
For details refer to Entering a miscellaneous charge in Practice Manager.
- In MYOB PM, follow the menu path Maintenance > Maintenance Map > Miscellaneous > Code Types. The Code Types screen appears.
- Click the [+] for Misc Charge. The list of codes for the code type appears.
- In the new record row, complete the fields:
- Short Name
- Tax Rate
- CRM Type/Availability
For the Code, Short Name or Description you could call this INTEREST.
Ensure you select the relevant tax rate for example, GST Free Supplies (0.00%) at the Tax Rate field.
- Click OK. The Task Code is created.
For AE sites, if no nominal code defaults are set up, you will need to manually add a nominal account under the Nominal column for this new miscellaneous code type under Maintenance > Ledger Maintenance > Nominal Codes > Data Entry Codes Available for Company tab.
Once this is complete, you should then set up your default nominal codes from Maintenance > Ledger Maintenance > Nominal Codes > Nominal Code Defaults tab, so you do not have to manually apply a nominal code to a new task code again, as the system will then apply a default nominal when the new code is created.
For more details on creating new task codes and nominal code defaults, refer to Creating a new task code for timesheet/disbursement data entry.