After the installation of MYOB Accountants Enterprise and database upgrade, your data is ready for adding 2020 tax returns.
You can either add 2020 tax returns:
- on a client by client basis, or
- perform the practice roll forward to the 2020 tax year.
The AE Tax settings and configuration windows now open to the 2020 AE Tax year. For example:
- Open Contacts or Client Compliance and select:
Tools > AE Tax Settings, or
Tools > ATO Agent Request Forms.
Open Configuration or Compliance Management and select:
- Configure > Tax > Tax Agent Details, or
- Configure > Tax > Tax Contact Details.
You can view or change these details for prior years by accessing the configuration window for AE Tax from 2006 to 2019.
You can roll forward all 2019 tax returns to 2020.
- To rollover all your practice's tax returns, see All Clients Tax Data below.
- To roll forward each tax return when you open the return in the tax ledger, see One Client Tax Data below.
Lodgment due dates updated from the Client List report will be cleared for returns that are rolled after the report is run. We recommend that you rollover all returns.
To run the Retain Schedule Data process from Contacts or Client Compliance:
Click Tools > Roll Forward > Tax Rollover > Roll.
In the Retain Schedule Data Options window select the required options on each tab, and click OK to start the roll forward process.
If you're using series 6 or series 8, a document for 2020 AE Tax Forms is added to the Documents tab of the matter(s) that contained the 2019 AE tax forms document.
If you're using Practice Manager, a document for 2020 AE Tax Forms is added to the Work Files tab.
For any client where the 2020 AE Tax Forms were not created, for example, if you have selected to exclude returns not yet lodged in 2019, then once the 2019 return for that client has been completed, you can roll forward to 2020 as described below in One client tax sata.
To roll a single client’s tax return from 2019 to 2020, use the Add New Tax form wizard.
Matters window for the client, select the Documents tab and click Add.
PM Client Compliance window, select the Work Files tab and click Add.
Contacts, click File > Open Document, select the required Matter and click Add Document. The Compose Document dialog opens.
Select to add document of type Tax Form and click OK. The New Tax Form wizard appears.
Select 2020, and step through the wizard.
Click Finish and the Roll Forward dialog is displayed.
We don't recommend using Keep amounts in schedules? as it will roll the same amounts that were entered in the existing return into the rolled over return.
Whether this option is selected or not, errors may result if rolled returns are not reviewed thoroughly prior to lodgment.
If there wasn't an existing tax return for the client, we'll create and open a current blank AE tax return.
Click OK to create the client's 2020 AE Tax return. The 2020 AE Tax Forms document is added and opened.
This routine must be run on the database server, and the application you use to run Tax Lodgment Dates must be opened with administrator rights (run as administrator on Contacts, Client Compliance and Practice Manager).
This process allows you to clear or increment the actual and target dates of the tasks for tax completed (TC) and tax lodged (TL).
To roll Tax tasks forward into the ledger for the new income year
From Contacts or Practice Manager Client Compliance:
- Click Tools > Roll Forward > Tax Lodgement Dates > Roll.
To install the latest version of AE reports:
|If you have Practice Manager||You'll need to download the AE Reports Report Pack installer, and double-click AE_Reports_Tax_2020_ReportPack.exe to start the installation. See the AE Reports Report Pack Install Guide to continue the installation process.|
|If you don't have Practice Manager||You'll need to download the AE Reports Standalone installer, and double-click AE_Reports_Tax_2020.exe to start the installation.See the AE Reports Standalone Install Guide to continue the installation process.|
To produce client letters in AE Tax using MS Word you must access the relevant MS Word templates.
To run tax letters in 2020 you need to:
- Open Tax 2020.
- Select Tax Letters > Create/Update Views.