We're releasing two meaningful updates to Client Accounting in Practice Compliance on 20 May 2026, and there are a few things to do before then.
What's changing?
Detailed notes – finally here
You will soon be able to control how notes are presented in your financial statements. Add headings, create subtotals, rename line items, regroup account codes – and that setup carries forward each period. No more recreating it from scratch. The notes reflect the reality of your client's position, shaped by you.
Borrowings – broken down the way they should be
The Borrowings section of the chart of accounts is getting restructured. Bank loans, hire purchases, chattel mortgages, and other borrowings will each have their own code, with purpose-built workpaper templates for the most common types. The detail that matters to clients and their banks is captured accurately from the start.
IMPORTANT
Before the release – lock your completed work
If you have client files with Borrowings already mapped, you'll need to re-map those accounts after the update before you can continue working on them. Your workpaper data is safe – nothing is lost. But re-mapping is mandatory.
To avoid any unexpected changes to finished work, lock all periods that are complete before 20 May.
A few things to be aware of
Three notes – Other liabilities, Cash and cash equivalents, and Bank overdraft – will default to a collapsed view after the update. If you have files actively being worked on, expect them to look different, even if you haven't made any changes yourself.
Learn more
Full details on both updates, including the new chart of accounts structure and how detailed notes work, will be available in the help centre from Wednesday 20th May.
Have questions? Reach out to your Customer Success Manager practicecompliance@myob.com – they're across the detail and happy to help.
