Creating a small business pool asset

Australia only

A new small business pool asset can be added to the current year. The asset can be:

added as a purchase in the current year, or
loaded as a previously depreciated asset if it was purchased in a prior year.

To apply accelerated depreciation for assets, either:

from Assets, click the asset year and click Apply accelerated rate on the Tasks bar, or
to use MYOB Practice, from Assets, click View in browser on the Tasks bar and follow the steps in Accelerated depreciation rules.

Taxation only asset

When creating a Taxation only small business pool asset, we recommend the following workflow:

Creating a Taxation only small business pool asset

Configure the control group using the Maintain Control Group window. See Creating a control group.
Map the relevant general ledger account codes for the small business pool using the Small business pool summary window. See Small business pool summary.
Create the small business pool asset using the Create New Asset Wizard.
Creating a new Taxation only small business pool asset with the Create New Asset Wizard is a 3-step process:

Accounting and Taxation asset

When creating an Accounting and Taxation small business pool asset, we recommend the following workflow:

Creating an Accounting and Taxation small business pool asset

Configure the control group using the Maintain Control Group window. See Creating a control group.
Map the relevant general ledger account codes for the small business pool using the Small business pool summary window. See Small business pool summary.
Create the small business pool asset using the Create New Asset Wizard.
Creating a new Taxation only small business pool asset with the Create New Asset Wizard is a 4-step process:

If you attempt to create a new asset without having a control group configured a message is displayed. Click Yes to open the Maintain Control Group window and see Creating a control group.