Has anyone had success with setting up a Novated lease in MYOB. All of their help is geared around Flare but I am not using Flare for the lease. Its an electric vehicle and hence I can generrate GST input credits?? Has anyone done this? Thanks

I read and set it up myself and then verified it with my accountantNot impressed how MYOB had no notes as to how to set this up Please check with your accountant as to whether it will be subject to FBT, my case it is not subject to FBT and therefore not reportable This is on Accountright Payroll - Set up a new deduction called Salary sacrifice - Novated Lease , linked payable account will be a liabiltiy account, my ATO reporting category is non reportable, link the employee and tick exempt from PAYG On the Employees card go to Payroll Details, Standard pay and then enter the amount that will be deducted from the employess paySetup a supplier card for the nominated Novated lease supplier and code this to the same liability account Hope this helps

Yes was able to do it but with absolutely no help from MYOB. My Novated lease company was able to help set it up for me. I cant give you advice on exactly how it was done as I didnt understand it fully but it was a fairly simple process. The annoying thing is that anyone in MYOB would be able to give you the instyructions on how to do it. In fact there are way more complicated things that MYOB has a help information panel on. Id suggest they are deliberately told not to help anyone on this matter.

Hi May, Understand your frustration. MYOB were zero help and its pretty unethical in my opinion to not support a very common need of your accounting software. In the end the lease company talked me through how to set it up with a combination of new accounts. Hopefully they have someone there that can show you? Cheers Euan

I had 2 deductions - one Salary Sacrifice and one a luxury car tax adjustment even though the car is below LCT threshold. But yes as per above and then pay the lease company from the liability. Mine was also an electric car and hence no FBT.

I'm a year late getting into this thread, but I just want to say that I am disgusted that MYOB insists on channeling its users into Flare - a MYOB owned company.Firstly, you MYOB moderators are simply lying to say that it can't be done without having the Novated lease through Flare. IT CAN BE DONE. You just don't provide any support to do it. That is wrong on so many levels. We pay a MYOB subscription fee, and that includes access to support for MYOB. Setting up a lease in MYOB is a MYOB function and you are absolutely obligated to provide instructions.Secondly, MYOBs push to use Flare is a shameless money-grab. And if I was MYOB management, I would be embarrassed about the company that you got into bed with. They are clueless and completely useless once the salesman has made his pitch and you have signed on the dotted line. It's been a month since we fell into this trap, and we are still struggling through the process of getting our payroll set up. Their responsiveness is extremely poor, their knowledge is very low and their care factor is zero.A warning to anyone thinking of using Flare - DON'T

Novated Lease | MYOB Community

15 Replies

efindlay
Contributing Cover User
1 year ago
Yes was able to do it but with absolutely no help from MYOB. My Novated lease company was able to help set it up for me. I cant give you advice on exactly how it was done as I didnt understand it fully but it was a fairly simple process. The annoying thing is that anyone in MYOB would be able to give you the instyructions on how to do it. In fact there are way more complicated things that MYOB has a help information panel on. Id suggest they are deliberately told not to help anyone on this matter.
cia_auseng
Contributing Cover User
1 year ago
Has anyone been able to set up a Novated Lease without integrating with Flare
Princess_R
MYOB Moderator
1 year ago
Hi efindlay,

I get how frustrating it can be not to have a clear answer. After looking into it more, it turns out you can't set up a novated lease in MYOB without using Flare. The novated lease functionality is integrated with Flare, and this integration is necessary for the proper setup and management of novated leases within MYOB.

Feel free to reach out if there's anything else I can assist you with.

Cheers,

Princess
efindlay
Contributing Cover User
2 years ago
Thanks Princess for the reply but the thread just reiterates what I have asked and in fact says MYOB very unhelpful. I still don’t have an answer to the question which is how to set up a novated lease in MYOB without flare.

many Thanks

euan
Princess_R
MYOB Moderator
2 years ago
Hi efindlay,

I see you're trying to set up a novated lease in MYOB without using Flare. Setting up a novated lease in MYOB without using Flare can be a bit tricky since most of the help resources are designed for Flare integration. But I found a thread that has some useful information about novated leases that might help you out.

Feel free to get in touch if there's anything else I can assist you with.

Cheers,

Princess

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Novated Lease

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