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MYOB Essentials

Report: Profit & Loss - Cash to show General Journal entries

Valued Partner

133Posts

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133 Posts
Valued Partner
Australia

I have just found out that the Cash Profit & Loss Statement does not include General Journal Entries.  

 

All businesses reporting on a cash basis for their income tax returns will be processing general journal entries (depreciation / items purchased by Directors on private cards etc) and they won't have correct Profit & Loss Statements.  

 

Its tax time now and I'd hate to think of the number of incorrect tax returns lodged because of this software error.

 

This report has been available for 7 months now and I find it hard to believe that this is still an issue.

 

This issue affects all of my LiveAccount clients.

 

I look forward to having this fixed ASAP.

 

"LiveAccounts Cash Profit & Loss needs to include General Journal Entries"

Current Status: Done
Last Changed: November

Hi Everyone


MYOB Essentials will include a general journal entry in a Cash Profit and Loss, assuming a Profit & Loss account has been used.

2 Comments
MYOB Staff Post StephenL
584 Posts
MYOB Staff Post
 
MYOB Moderator Steven_M
32,166 Posts
MYOB Moderator

Hi Everyone


MYOB Essentials will include a general journal entry in a Cash Profit and Loss, assuming a Profit & Loss account has been used.