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MYOB Essentials

Reports: Inclusion of Payables with tax and Receivables with Tax

Cover User

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Cover User
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Could we please have reports of Payables with Tax and Receivables with Tax as per AccountRight included in Essentials?

I think that most Essentials customers report GST on a cash basis.  One of the checks I perform before submitting a BAS is to check the balances of the GST Collected and GST Paid accounts against the amounts to be reported in the BAS.  With non-cash reporting, the two should match so that's easy.  With cash reporting the difference should be the GST on outstanding payables and receivables at the end of the quarter.  Hence I would really appreciate this report being available in MYOB Essentials so that I can complete this check.

17 Comments
SharonLawrence
3 Posts
Cover User

In MYOB Account Right you can do a report for payables or receivables "with tax".  This is useful when the financials statements are prepared on an accruals basis, but GST is on a cash basis.  In these situations, in order to reconcile your GST to your BAS you need to remove the GST on debtors and creditors, and in Account Right the payables/receivables "with tax" report gives you the GST to remove.  In Essentials, you have to check every invoice on the list to see the GST as no such report exists.

 

Therefore my request to MYOB if for Essentials to have the "with tax" report available.

SharonLawrence
3 Posts
Cover User

Not sure that @Curtis36 has made a comment on the right post?  Has nothing to do with my request

SharonLawrence
3 Posts
Cover User

I realize that you can do GST reports as cash or accruals.  This wouldn't help me.  At year end we need to know how much GST is in payables and receivables at 30/6 - sometimes this is easy because all sales have GST, but if it is a mixed business it is not.  Using the GST reports will not tell me how much GST is in the receivables/payables at a point in time.

 

Even if you look at the difference between the accruals and cash reports, what about the timing differences from the previous quarter?  This will not work.

 

Having the "with tax" report just like in Account Right is the simple solution.  Thanks

Docca61
Partner
5 Posts
Partner

Hi if you are doing Accrual Accounting you need to be able to determine the GST on the Outrsatnding Debtors.  At the momemt there is no GST Column.  Not every invoice is potentaially 1/11 as there could be GST Free Sales or Exempt Sales etc.

 

This report is available in Account Right We need it in Essentials as well.

Docca61
Partner
5 Posts
Partner

To run your GST reports correctly if you are doing Accrual Accounting you need to be able to determine the exact amount of GST Credits your are entitled to just like you can in Account Right (Payables with Tax).  It is not necessarily 1/11 GST as you may have purchased GST Free Item etc. 

Markjfco
Partner
8 Posts
Partner

Hi

 

My client prepares BAS's on a cash basis but the accounts are prepared on an accruals basis. Not all sales and purchases have GST on them.

I would like a reports as per the following Accountright 2017 reports

1. Receivable With Tax

2. Payable With Tax

 

How else can I quickly reconcile my GST accounts?

Vicky_Chen
2 Posts
Cover User

Hi MYOB Support Team,

 

I have asked for the function of GST showing on the Accounts Receivable account before with you. I wonder if I can ask it again? Please see the attached report-Transactions on Accounts Receivable account (Trade Debtors account). On the last column, there is no GST outstanding amount showing on debtors, it should be GST amount on Debtors report.

 

Also, the second attachment is extracted from MYOB AccountRight Live version, it is a report named Receivable with Tax under Reports - Index to Reports - Sales, it is showing GST outstanding on Debtors. 

 

Could you tell me when this function will be available?

 

Kind regards, Vicky

Thelocaltrade
1 Post
Cover User
Hi there,

I used to regularly use the payables with tax report and receivables with tax report, however I have just moved to essentials and am very disappointed to find out they are no longer Available!

Please please bring them to essentials, they make reconciling my GST so much easier.

Thanks!
Ashleys
7 Posts
Cover User

We really do need to be able to get this report as I would imagine most small business clients using MYOB have accurals based financials and cash based GST. This report is essential to be able to reconcile the GST accounts in the financials and pick up if there is any GST unclaimed from previous quarters. 

 

I note that both MYOB Account Right and Xero have the ability to get this report. Come on MYOB, surely it can't be too hard to create this report for Essentials!!!

AngieCats
2 Posts
Cover User

I would also like this too! Especially when reconciling the accounting profit to the taxable profit