This support note applies to:
- AE MAS (NZ)
- AE MAS (AU)
In MYOB Accountants Enterprise (AE) Management Accounting System (MAS) the entity type is initially established at the time of creating the ledger. This provides the initial profit split accounts for the specified ledger. However you are able to change the entity of a ledger; for example, if a ledger was set up as a company and it should have been a super fund, by changing the profit split accounts.
To change the entity type,change the profit split account as required; for the above example change 100% distribution from account 639 to account 550 02.
MYOB AE Reporter in Australia uses the entity type to display the relevant options for the specific entity. This is determined in a different manner and you also need to specify the entity type for Reporter.
- Open the MAS ledger and follow the menu path: Setup > Client Files > Ledger Option. The Ledger Options window appears.
- Click Profit Split. The Profit Share Account window appears showing the current distribution % and account/s.
- Click Details. The Profit distribution window opens.
Type 0 and click OK. The current distribution % is removed.
The account code remains on the Account list in this window as it shows all accounts which exist on the Client Chart of Accounts with a special use of "s"; Profit Split.
- Click New. The Profit distribution window opens with the cursor at the Code field.
Type the new profit split code and percentage as required and click OK. The details are entered.
Repeat steps 5 and 6 for each required profit split account and % distribution until the Remained to be allocated = 0.00 and the Total Profit % = 100.00. Refer to the distribution articles listed for the distribution accounts and % for each entity type.
- Click Cancel to close the Profit Share Accounts window and click Cancel again. The Ledger Options window closes and the MAS ledger appears.
For MYOB AE Reporter in Australia you also need to specify the entity type to show the correct reports and options.
Following is a list of articles to assist you in establishing ledgers for the different entity types: