What's new in Client Accounting in MYOB Practice
This page lists new features and improvements in Client Accounting.
June 2025
Financial reporting is now available for key entity types in Client Accounting
Partnership
Trusts
Company
Individuals
Financial reporting for Partnerships and Sole traders
You can now create financial reports for partnerships and sole traders. We’ve updated the following workpapers:
Income Allocation workpaper (Partnerships only)
Income statement
Balance sheet
Introduction
Basis of preparation
Notes - Stakeholders' current accounts
Declaration
May 2025
New expense account for interest expenses
We’ve added a new expense account to our chart of accounts - 6.05030 Interest expense.
Now you can map interest expenses to this account, and they will be shown as a separate line item in the Income statement rather than included in the Borrowing expenses.
Font size on the cover page
We’ve heard your feedback that the client name on the cover page was too large, so we changed the default template to a smaller font size.
Updated note for Borrowings
We’ve created a note for Borrowings in the financial statements for all entities. This will help you identify the current and non-current borrowings of the entity.
April 2025
AI mapping is here!
Mapping your chart of accounts just got easier! Our AI tool saves you time by suggesting the accounts that match your client’s ledger, including multiple accounts that are a match. Learn more.
Financial reporting for Trust entities
You can create financial reports for Trust entities. We’ve updated the following to include trusts.
Entity information (is visible only when the entity is Trust)
Introduction paragraph
Basis of preparation paragraph
Income statement
Balance sheet
Notes to Stakeholders Current Accounts
New templates
In the Financial Statement workflow, we’ve added new templates:
Income allocation workpaper
Statement of changes in equity
New accounting policy note for Investment properties
New Notes for Investment properties and investments.