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August 2022
August 2022
Hi All,
I am using MYOB Accountright Premier v AU 2022.6.0
I am having an issue with the way MYOB is handling input taxed inventory item purchases.
E.g. I enter a bill for 100 widgets and allocate the bill to an Item called Widgets. The Total cost is $110 which includes $10 GST. As we cannot claim this GST, the tax code INP is used (input taxed).
In the General Ledger, the Inventory Control Account corrects increases by $110.
However, the amount recorded against the inventory item called Widgets, only increases by $100 (i.e. excluding the $10 non-claimable GST).
When an Inventory Value Reconciliation report is run, the report is out of balance by $10 as the Inventory Control Account Balance is $10 higher than the total of the individual inventory items.
I have spoken to MYOB about this issue only to be told that Items cannot include GST, even if the GST is non-claimable!
We used the old AccountRight Premier v19.16 up until 30 June 2022 and we never had this issue because non-claimable GST (using the INP tax code) correctly was allocated to both the Item and the Inventory Control Account.
Anybody able to assist with this issue?
Many thanks
Glen
October 2022
October 2022
Hi everyone,
I am using MYOB Accountright Premier v AU 2022
I am having an issue with the way MYOB is handling input taxed inventory item purchases.
E.g. I enter a bill for 100 widgets and allocate the bill to an Item called Widgets. The Total cost is $110 which includes $10 GST. As we cannot claim this GST, the tax code INP is used (input taxed).
In the General Ledger, the Inventory Control Account corrects increases by $110.
However, the amount recorded against the inventory item called Widgets, only increases by $100 (i.e. excluding the $10 non-claimable GST).
When an Inventory Value Reconciliation report is run, the report is out of balance by $10 as the Inventory Control Account Balance is $10 higher than the total of the individual inventory items.
We used the old AccountRight Premier v19.16 up until 30 June 2022 and we never had this issue because non-claimable GST (using the INP tax code) correctly was allocated to both the Item and the Inventory Control Account.
I have called MYOB multiple times about this issue and always end up in a call centre in South Africa where the staff simply do not understand the above problem with the new version of MYOB.
Is anybody able to assist with this issue I am having? Does anyone know how I escalate this issue with MYOB because calling the help line is simply a waste of time. I need to speak to a developer or someone with knowledge about GST and inventory items which is simply not the case when speaking to the call centre in South Africa!
Many thanks
Glen
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BareBeauty
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