IR will stop sending transactions to AE/AO in 2024 due to the technical changes to their services. This means that you won't be able to create tax notices in AE/AO from 2024 tax year.
A warning message will appear when accessing the tax client search in AE/AO.
The AO/AE tax Manager will be available for historical lookup purposes until March 2024. For accurate and up-to-date information about your clients, head online to MYOB Practice.
You can access the previous tax year's notices in partner.myob.com or my.IR website.
Tax Settings
Any changes to your Tax settings in AE/AO (from the Tax tab) is not integrated with MYOB Practice compliance settings. You'll need to make any changes in MYOB Practice.
You'll now see a warning message when clicking on the Tax tab in AE/AO.
Client Accounting
Resolved issues
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.
Entity
Account range changes
Company
Taxation > Tax provision
Changed the swinging account under Range settings for 631/01 from CR to DR.
Company & Trust
Taxation > Other tax
Account range 631/02 - 631/99
Changed Range settings > Separate base on’ from ‘Individual account balances’ to ‘Header account balances’
Individual
Taxation > Other tax
Account range 631 - 631/00
Changed Range settings > Separate base on’ from ‘Individual account balances’ to ‘Header account balances’
Club or Society
Taxation > Other tax = account range 631
Changed Range settings > Separate base on’ from ‘Individual account balances’ to ‘Header account balances