October Updates - Client Accounting

We’ve released five new workpapers templates and additional improvements over the past few weeks. 

What's new in workpaper templates

Intercompany Loans - Reconciles inter-entity loan balances, flags mismatches, and helps identify timing differences or recording errors across related entities. 
Franking Assets - (Companies only) Tracks franking credits and debits throughout the year, providing a full audit trail, and automatically rolls forward balances to the next period. 
Interest Received - Reconcile interest income and withholding tax, including the applicable withholding tax percentage. 
Term Deposits - We’ve added a new workpaper for account code 1.24050 Term Deposits. Reconcile the ledger balance to the bank statement and calculate accrued interest. 
Income Tax Expense Calculation (Companies only) Calculates taxable income by applying adjustments to Net profit/(loss) from the Income Statement.

Fixes & Improvements 

Income Tax Accounting Policy - Fixed an issue where a policy number was printing even when unstarred, causing numbering gaps. 
Borrowings Note - Updated to include non-current borrowings when printing the note. 
Income Tax Expense Workpaper - Resolved a circular reference error that was previously visible.

To explore the new features, check out What's new in Client Accounting in MYOB Practice 

Thanks Alice Gregory