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A client has overpaid us - it appears they have paid on the previous statement - how do I treat this? If I try to apply the full payment it doesn't balance.

Yes by default MYOB will only ever attempt to apply the amount outstanding on an invoice so you have to manually overtype the amount in the "Amount Applied" column in order to balance the payment. 

When the "Amount Applied" is more than the balance owing, MYOB will automatically create a credit note for the overpaid amount, which can then be applied to future invoices or turned into a refund later.

NOTE: If you do not manually alter the "Amount Applied" you will find that MYOB will balance the transaction by placing the balance of the money into the "Finance charge" field at the bottom of the screen - effectively writing off the overpayment.  This is not our desired result, unless you do genuinely want to write off that overpayment (ie: $0.50c or some other small balance)

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