Contractors Taxable Payments Reporting

[DFulton]

We transitioned over to MYOB as at 1/7/22. Some of our opening Supplier balances (invoices dated June / paid July) need to be included in FY23 Contractors Taxable Payments Report but for some reason are not included when I run the 'Report Taxable Payments' Report.  Is there a way to fix this or is 1st year reporting have to be manual?

[Princess_R]

Hi @DFulton 

Thank you for your post. I'd like to extend you a warm welcome to the Community Forum. I hope you find it a valuable resource.

Could you please confirm if the preferences in the Reports and forms is ticked?

Our Help Article, Reporting taxable payments, has more detailed information to assist with this.

Please feel free to post again I'm happy to assist.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Cheers, 

Princess

[DFulton]

Thank you for your reply.

I have the 'I REPORT TAXABLE PAYMENTS MADE TO CONTRACTORS' box ticked under Reports and Forms, but it is still not picking up any suppliers opening balances paid July22 in the FY23 'taxable payments report'.

[Princess_R]

Hi @DFulton 

Thank you for your response.

Kindly check your current FY under Set up >> Company information it needs to be 2022 - 2023. Could you also please ticked the preferences in the suppliers card file and see if it works.

Here's our Help Article, Reporting taxable payments, that has detailed information you might find useful.

Please le me know how you go about this.

Cheers,

Princess

[DFulton]

The current financial year is 2023 which is correct.  

I have unticked and re-ticked the 'Reportable Taxable Payments' in their card file just in case.

I am starting to think it must have something to do with my Conversion Month which is July 2021 when it should have been July 2022 but I dont know how that would cause this issue.

[gavin12345]

Hi @DFulton 

Suggest you follow the Help Article as suggested by @DFulton. This has nothing to do with your conversion date. My understanding is MYOB requires some manual procedure to account on a cash basis for invoices that straddle the year end.

Regards

Gavin