Release date—31 January 2024
Tax
Updates
If you're on the MYOB Practice tax Early Access Program, we strongly recommend installing this update.
-
Improvements when moving a tax return from MYOB AE/AO to MYOB Practice
You'll have a better experience when migrating tax returns from AE/AO to MYOB Practice thanks to many improvements we've made throughout the process.-
The Live button with the cloud icon at the top of AE/AO is now called MYOB Practice.
-
The Move the tax return online window opens as soon as you click Create Return in AE/AO.
-
For the full list of changes and all the details, see What’s new in MYOB Practice.
-
Statutory Reporter
New features
-
The Specified text feature, previously available for some reports, is now available for all reports.
-
There’s a new accounting policy note for each entity type, called Contract assets and liabilities.
Updates
Income statement
-
The income statement shows net movement, rather than the closing balance of accounts.
Balance sheet
-
For the super fund entity type, we’ve removed duplicate account codes from the Equity > Unallocated account group folder.
Audit report
-
For the association entity type, we’ve updated the audit report to refer to the Incorporation Act 2015.
Compilation report
-
The compilation report refers to Special Purpose reports instead of General Purpose reports when the Auditor’s name is blank under Non-Transaction Data.
Accounting policy note
-
The accounting policy note Impairment of non-financial assets only prints for the association entity type.
Notes to the financial statements
-
The Employee Benefit note only prints if using Simplified Disclosure reports.
Statement of change in equity
-
The opening balance for reserves has been removed where a restatement has taken place.