MYOB AE/AO release notes—5.4.46 (New Zealand)

Trial balance (workpapers) updates

• The Trial balance was showing an incorrect profit, not including the amounts from the Other (Non-assessable and non-deductible, Assessable and deductible) folder. This is now fixed.

Assets

• Assets that are migrated to Client accounting have a taxation depreciation of 100% incorrectly changes to 0% in Rate year 2+ field. This is now fixed.

MYOB standard charts templates updates

• We’ve made a change to the following CSV files located in Deploy\Client Accounting Templates\Myob Standard Charts folder. We've removed codes 169 - 16930 that were duplicated.
  If you have made changes to these CSV files, we recommend taking a copy of that file prior to installing the upgrade as the file will be replaced.

  • MAS_Partnership_Farming

  • MAS_Individual_Farming

  • MAS_Company_Farming
  • MAS_ClubOrSociety_Farming
  • MAS_Trust_Farming

Workpapers

• Investments - shares
  A question mark (?) is showing in some columns when the opening number of shares is zero. This is now fixed.

• Interest Paid
  The following improvements have been made so you can use the workpaper for calculating the non deductible portion of interest on residential rental.

  • An additional column to show % Amount (previously only Private %)

  • Totals for Amount Paid and Private Amount fields.

  • Private% calculation for accrual and reversal

• New Workpapers

  • Fixed assets - Individual asset class and depreciation account
    This workpaper allows you to choose the account code for the depreciation balance.

  • Engagement acceptance and continuance checklist

  • Bank loan reconciliation (simple)
    In this workpaper you can compare the closing balance of a loan against the balance from the linked ledger account. It doesn't split between current and non-current portions of the loan. You can also calculate accrued interest but this is not a reconciling item.

Statutory Reporter  

• Balance Sheet
  We'll summarise the Taxation in the Balance Sheet when you deselect the Taxation Note. 

• Departmental reports
  The following account group folders were not included in the department reports
  Profit or loss statement > Income tax and other > other > Non-assessable & non-deductible Profit or loss statement > Income tax and other > other > Assessable and deductible This is now fixed.

• Summarised income statement
  If there was a balance for non-departments in the Profit or loss statement > Income tax and other > other > Non-assessable & non-deductible Profit or loss statement > Income tax and other > other > Assessable and deductible account groups, the balance was not being included in the grand total. This is now fixed.
  
• Livestock Reconciliation Report
  We've inserted a line space at the top of the livestock reconciliation accounts to improve the spacing of the first line and the headings. 

• Notes to the financial statements — Intangible asset note
  The note was printing a total only if there were 2 or more items. This is now fixed.

• Minutes - Resolution of directors
  We have changed the condition on the Dividends paragraph to This year from all years.
  
  
• Minutes of a Trust
  We've made wording changes to the following paragraphs:
  • Distribution of income
  • Capital distributions

Statutory reporter rounding issue

• Previously, when you've ticked Display Rounded Balances, the report and drill down on any report don't show the cents.
  The changes you'll see after installing this version are:
  • If you've ticked Display Rounded Balances and Calculate Rounding error adjustment, the behavior will be unchanged.
  • If you've ticked Display Rounded Balances and not ticked Calculate Rounding error adjustment, the drill-down value will show cents. 

If you've changed the Rounding error adjustment settings, make sure you click the Refresh icon(at the top left) for the settings to take effect.  Reloading the report will not refresh the values.

Account Groups

• Trusts:
  We've changed the account group name from Opening balance to Accumulated trustees funds under Balance sheet > Equity > Trust funds. Since the report shows the account group name as the description, you can change the account group name at the client level if required.

• We've updated the mappings of the tax provision account when configured to the AO Classic GL ledger. Under Balance sheet > Assets and liabilities > Assets.