This support note applies to:
-
AO Classic General Ledger (AU)
In MYOB Accountants Office (AO) Classic - General Ledger (GL), Sub-accounts can be created to provide a more comprehensive account selection. Specific rental statements are designed for use with rental property sub-accounts.
Sub-account codes range from /01 to /99. As the maximum sub-account code is /99, up to 99 rental properties can be recorded. Details on how to add sub-codes to your ledger can be found in Setting up sub-codes in AO General Ledger.
To produce a rental statements for each property, you can run the report 1310 Rental Income Statement and increment the subaccount code for each property. For a consolidated rental statement, you can also print the report 1300 Rental Income Statement.
The standard account ranges for rental property accounts are as follows:
|
Account Code |
Description |
|---|---|
|
216 |
Property Name/s |
|
217 |
Rent Received |
|
219 |
Agent Fees |
|
220 |
Commission |
|
221 |
Depreciation |
|
222 |
Impairment |
|
223 |
Interest |
|
224 |
Land Tax |
|
226 |
Rates |
|
227 |
Repairs and Maintenance |
|
228 |
Sundry Expenses |
This means that the chart of accounts for Property 1 and Property 2 will look similar to the following example:
|
Account Code |
Descriptions for Property 1 |
Account Code |
Descriptions for Property 2 |
|
|---|---|---|---|---|
|
216/01 |
<Property 1 Name> |
216/02 |
<Property 2 Name> |
|
|
217/01 |
Rent received |
217/02 |
Rent received |
|
|
219/01 |
Agent's Fees |
219/02 |
Agent's Fees |
|
|
220/01 |
Commission |
220/02 |
Commission |
|
|
221/01 |
Depreciation |
221/02 |
Depreciation |
|
|
222/01 |
Impairment |
222/02 |
Impairment |
|
|
223/01 |
Interest |
223/02 |
Interest |
|
|
224/01 |
Land Tax |
224/02 |
Land Tax |
|
|
226/01 |
Rates |
226/02 |
Rates |
|
|
227/01 |
Repairs & Maintenance |
227/02 |
Repairs & Maintenance |
|
|
228/01 |
Sundry Expenses |
228/02 |
Sundry Expenses |