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Share your ideas for improving MYOB Essentials Accounting. Vote on ideas and discuss them with the MYOB product development team.

MYOB Essentials

Additional tax codes

DulcieBridges
Contributing Cover User

12Posts

43Kudos

0Solutions

12 Posts
Contributing Cover User

I would like to be able to add more tax codes to the basic ones available in MYOB Essentials.

 

 

Dulcie Bridges

Bridges' Bookkeeping

Bunbury, WA

20 Comments
MYOB Moderator Steven_M
31,063 Posts
MYOB Moderator

Hi @DulcieBridges

 

Thank you for your feedback in regards to MYOB Essentials and the tax codes available


MYOB Essentials is designed to be a simple accounting program and as such doesn't contain a complex list of tax codes. However in saying that you would mind going in more detail about the types of tax codes that you would like to see added.

Experienced Cover User Madcap
36 Posts
Experienced Cover User

We need a PRI code in essential

Freshpowder
1 Post
User

I purchased MYOB Essentials to handle the accounting for my business in Japan. In Japan they have a Consumption Tax of 8% instead of 10%. It would be extremely helpful and would make your product more desirable world wide if you were able to:

1. Rename the GST (ie. rename as CT) on invoices.

2. Allow a different percentage of tax to be calculated.

3. Change the $ symbol default to another currency symbol

I purchased MYOB to automate my business accounting but not having the 3 items above means that I have to manually send my invoice rather than use MYOB Essentials.

Spicegirly72
1 Post
Cover User

How does a sole trader account for withholding tax on their invoices which will be deducted by the client?


Sparkylamoore
6 Posts
Cover User

Yet another ridculous limitaion on Myob essentials, the inabilty to add differant tax codes. My compnay imports good, and as such we have the 100% GST duty tax to be paid and claimed, essentials does not let me add this, so how on earth do I claim it?

 

Also I started the original feed of not being able to allocate money to differant job lots, this is a BASIC !!!! bookeeping function, to be able to work out a P & L on jobs. This has not been adressed in years, I am seroiusly thinking of going through the hassle of changing to a differant online system. I am also thinking of getting a specific face book page to drive bussiness away from MYOB essentials due to the apalling lack of interest from the company in adressing these simple issues. So my original question, how do I enter in the 100% GST tax on my goods ???? I am beyong frustrated with MYOB, essentials is not a cheap monthly program, and it is insane that these basic functions are not present.

EssentialsDave
1 Post
Cover User

I'm new to both MYOB and accounting.

 

I have purchased a vehicle through my business from an individual, not registered for GST and, as such would like to allocate to Capital acquisitions that have no GST (yes, I am reading Bookkkeeping Essentials for Dummies). It appears the code CGF has been removed since this book was published, yet the ability to add codes hasn't replaced it? So in fact we have less now than in 2014.

 

I have to agree with most comments I see on MYOB forums, the support for this software is subpar. So many simple improvements that could be made, yet are ignored.

Partner Kazian
2 Posts
Partner

As a tax agent I often use a private GST code especially for sole traders and partnerships.  In previous versions of MYOB including business basics it was possible to create a GST Private code which would allocate the GST private portion to owners drawings.  Can MYOB create a PRV code in MYOB Essentials that will allocate 10% i.e. the GST of the amount entered with PRV to owners drawings and then the remainder of the amount to an expense account so that three entries aren't required for every expense with a private portion only two?

Alpa
1 Post
User

Hi


Would be good to keep GST on income and GST on expenses seperate or at least to be correct in the GST return in MYOB essentials.  Just found an instance were an expense refund was put to sales in the GST return when it really should have been netted off expenses. 

Kazmars
1 Post
Cover User

I have caravan park / permanent accommodation, the tax on income for the permanent residents is 5% or 50% of the income is taxed at 10% which means you have to do a double entry to get the tax correct. MYOB Essentials doesn't have this tax code, it would be good to have an option to create a new tax code or have this code recognized in the tax code list.   

MDSAgency
4 Posts
Cover User

Tax Codes should have a option for "No Tax".

Which tax type shall I classify my Owner Drawings Account Legder? 

The Tax Codes options are limited to

S15

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