WET is a tricky area of taxation which usually requires assistance from an accounting advisor to set up in your MYOB software.
To learn more about WET and the producer WET rebate, visit the ATO...
Updated 9 years ago
Version 1.0
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There is an error on the last page regarding the WET refundable. When using cash accounting method the figure needs to be manually entered in the 1D field NOT T1 (which is PAYG instalment income).
Also, BK-Julie, the invoice cannot hide the WET rebate items, you need to customise the packing slip and use that as an invoice, it does not show the WET rebates. I know it's a while since you posted, but thought this was worth acknowledging. It's a slightly clunky approach (you can't email packing slips straight out of MYOB as far as I'm aware) but it does work.
I wish MYOB would run a course specific to WET set up in MYOB, it would be extremely useful. However the above instructions are good - apart from the little error I mentiond.