Adding a new asset to the Small Business pool

This support note applies to:

AE Assets (AU)

Article ID: 27782

In MYOB Accountants Enterprise (AE) Assets there are a number of different types of assets you can add to the Asset register.

To add a new asset to the Small Business pool, add the asset in the relevant Asset Control Group; for example Plant and Equipment, select SB Pool Asset and complete the details relating to the asset as required.

MYOB AE Assets 2.4.1 allows full deduction of the SB Pool balance from $6500 or lower, for more details refer to Adding a new asset to the Small Business pool

How to add a new asset to the SB Pool

Open the Assets ledger. The main Assets screen appears showing the asset control groups in the left hand pane.
Open the required asset control group in the left-hand pane. The assets contained in this group appear in the right-hand pane.

Select the actual asset control group at this point; for example Plant and Equipment, and not the pool group.
Click New. The Add Asset window appears with the cursor in the Asset Code field.
Type the code for the new asset and press TAB on the keyboard. The cursor moves to the Description field.
Type the description for the asset. The description is entered.
Select SB Pool Asset from the list in the Select Asset's Depreciation Type for Taxation and click Next. The Add Asset - Taxation Details - SB Pool window appears.
Complete the required details and click Next. The Add Asset - Accounting Details window appears with the information defaulting from the Control Group details.
Complete the Accounting details and click Finish. The message "You have successfully added asset <Asset Code and Desc>. Would you like to add another asset?" appears.

You can also click Next at this point to continue adding information relating to General Asset Details, Associations and Notes. Please refer to the User Guide for further information on these areas.
Click Yes to repeat the steps to add another asset or click No to return to the main assets screen. Either the Add Asset window appears with the cursor in the Asset Code field or the Main Assets window appears respectively.

For more details regarding entering other types of assets refer to:

Entering an immediate deduction asset

Adding motor vehicles to claim the accelerated $5000 immediate deduction value