Change of BMS - before oir after finalisation
I need to finalise the wages but we are moving away from MYOB this week too. Do I need to finalize the wages before I alter the BMS ID (software ID)?
Kevin
Forum Discussion
Hi Zappy
If you used MYOB STP to report all the wages for FY 2023, you should finalise in MYOB before making any changes. I suggest you start using the new software to report software from 1 July - this is much neater.
Also you don't 'alter' the BMS ID - this is locked in the software you use. Your new software will have its own BMS ID - which stands for Business Management System ID.
If you are referring to the SSID (Software Service ID for hosted services) this will be issued by the new service provider, you report that to the ATO, in addition to any existing SSID's reported. You don't need to cancel these, just in case you need to lodge another update through MYOB later to correct an error in FY 2023.
Regards
Gavin
Hi Zappy,
Thank you for your post.
I would like to thank gavin12345 for this advice. as this is on point. It is much advisable to finalize all wages for your previous software before transitioning to a new software. Also, it is much better to transition at the start of a new financial year. so any errors for certain financial years, we could easily 5know which software was used.
If you have any other questions or concerns let us know.
Thanks,
Genreve
