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Report: Profit and loss - Removal of black shading behind header lines

Ultimate Partner

1,924Posts

549Kudos

168Solutions

1,924 Posts
Ultimate Partner
Australia

I notice that the Format of Financial Reports in Essentials has changed.

 

Why the Black Lines?    I see no purpose and it makes reading very difficult.

 

Bank Accounts are a Current Asset are should be reported under a Current Asset Header.

This is a requirement of the AASB (Australian Accountants Standards Board).

I understand that Members of a Professional Accountancy Industry body are required to prepare Financial Reports that meet Accounting Standards.

 

Why would MYOB after 25 years of providing a Balance Sheet format that met Accounting Standards segregate Bank Accounts from Current Assets?

I understand MYOB's major competitor also uses the format of segregating Bank Accounts from Current Assets.

 

During November 2018, I attended a Bookkeepers Meeting hosted by a Bookkeeping Industry Body.

There was quite a heated discussion whether the format of excluding Bank Accounts from Current Assets is correct. I would suggest it is not.

 

Happy to hear views.

 

Duncan Smith

Business Advice + Tax 

 

"Financial Reports Format November 2018"

Current Status: Done
Last Changed: June 2021

Hi Everyone


When printing the Profit and Loss in MYOB Essentials the header accounts will not be just shown in bold with the detailed accounts underneath it.

 

Note: This reporting change is available for the new MYOB Essentials platform. Existing (original) MYOB Essentials platform users will be migrated across to the new platform in due course based on the complexity of their MYOB Essentials product level. At the time of posting, migrations are already underway.

1 Comment
Steven_M
45,180 Posts
Former Staff

Hi Everyone


When printing the Profit and Loss in MYOB Essentials the header accounts will not be just shown in bold with the detailed accounts underneath it.

 

Note: This reporting change is available for the new MYOB Essentials platform. Existing (original) MYOB Essentials platform users will be migrated across to the new platform in due course based on the complexity of their MYOB Essentials product level. At the time of posting, migrations are already underway.