Account groups and Tax Account Groups
Statutory Reporter uses Account Groups to determine which account balances to display in each section of the financial statements and which notes to include by default. Tax account groups are used to transfer data from client accounting into the tax return.
Tax Account Groups are used specifically for integration into Income Tax integration workpaper. In Tax account groups, you cannot add custom groups.
To access the Tax account group:
- Open the client and go to the Client Accounting tab
- On the Tasks bar on the left, select Tax Account Groups.
Import values from the Income Tax Integration workpaper templates (AU) in MYOB Workpapers for the following entity types:
- Company
- Partnership
- Individual
- Trust.
The import must be for the full financial year. Period dates in Workpapers must be the same as the financial year in AE or AO Tax.
To import balances from Workpapers to AE or AO Tax:
- Complete the Income Tax Integration workpaper.
- To ensure that the return has been rolled over from the prior year, if applicable, check that you have created an Income Tax Return for the financial year and that the status of the return is In Progress.
Go to your client's Tax tab and, on the TASKS bar, click Import Ledger Data.
The values are populated to the business schedule of the return.
Statutory Reporter uses Account Groups to determine which account balances to display in each section of the financial statements and which notes to include by default.
Account groups allow modification of the contents of a report without modifying the report definition itself. This means that the same Master Level Report Definitions can be used to generate reports for a variety of client charts.
For example, if the Balance Sheet > Assets and Liabilities > Assets > Current Assets > Cash and Cash equivalents account group contain any accounts with non-zero balances, these account balances will be included in the Current Assets section of the Balance Sheet, as well as the Cash and Cash Equivalents Note. In addition, the Cash and Cash Equivalents accounting policy note will be displayed in the Statement of Significant Accounting Policies.
This example is an AU system but can be used for NZ. NZ systems may have some differences.
| Field / Function | Description | |
|---|---|---|
| A | Chart of Accounts | Displays a list of accounts in the client ledger for mapping to Account Groups |
| B | Filtering the Chart of Accounts | Select to display all accounts, unallocated accounts, or duplicate accounts only. |
| C | Hiding or showing the Chart of Accounts | Toggles the display of the far left column. Clicking Hide Chart of Accounts hides the Chart of Accounts column, clicking Show chart of Accounts causes this column to reappear. |
| D | Configuring account groups | Allocates the selected account(s) in the Chart of Accounts panel to the selected Account Group folder in the right-hand pane. |
| E | Include zero balances | Select to display accounts with a balance of zero in the Chart of Accounts panel. |
| F | Listing account allocations | Generates a text file (.TXT) listing account codes and descriptions for all accounts, and which account group(s) they have been allocated to. |
| G | Allocated | Displays "Yes" if account has been allocated to an account group and "No" if the account has not yet been allocated to a group. |
| H | Account Group Details | Displays all Account Group folders and the account code range(s) allocated to each Account Group folders. |
| I | Searching account groups | Enter all or part of an account code or name to locate the account |
| J | Accounts allocated to the selected group | Displays a list of accounts (or range) allocated to the selected account group. |
| K | Display account codes/range | Select to display accounts allocated to the account group by individual account codes or by an account range (e.g. 300:470 instead of 300, 301, 302, 303 ... 470). |
| L | Separating debits and credits | Opens the Range Settings window. In this window you can choose to separate account balances by Debits or Credits. For example, all accounts in range 680:683 with a debit balance will display under Current Assets in the balance sheet. If any accounts in range 680:683 have a credit balance, the account will appear under Current liabilities in the Balance Sheet. |
Are you using MYOB Ledger with established MAS, Accounts or AO GL charts? Check out the FAQs: Using MAS, Accounts or AO GL with MYOB Ledger