October Updates - Client Accounting
We’ve released five new workpapers templates and additional improvements over the past few weeks. What's new in workpaper templates Intercompany Loans - Reconciles inter-entity loan balances, flags mismatches, and helps identify timing differences or recording errors across related entities. Franking Assets - (Companies only) Tracks franking credits and debits throughout the year, providing a full audit trail, and automatically rolls forward balances to the next period. Interest Received - Reconcile interest income and withholding tax, including the applicable withholding tax percentage. Term Deposits - We’ve added a new workpaper for account code 1.24050 Term Deposits. Reconcile the ledger balance to the bank statement and calculate accrued interest. Income Tax Expense Calculation (Companies only) Calculates taxable income by applying adjustments to Net profit/(loss) from the Income Statement. Fixes & Improvements Income Tax Accounting Policy - Fixed an issue where a policy number was printing even when unstarred, causing numbering gaps. Borrowings Note - Updated to include non-current borrowings when printing the note. Income Tax Expense Workpaper - Resolved a circular reference error that was previously visible. To explore the new features, check out What's new in Client Accounting in MYOB Practice Thanks Alice GregoryJuly Updates - Client Accounting
I’m excited to share the latest updates in the Client Accounting Early Access Program, the team have been working hard this month and we have several updates for July so check them out below. Here’s what’s new: Bank overdraft note In the financial statements, there is now a bank overdraft note to show the current and prior year comparatives. Enhanced the trade creditor workpaper Updated the trade creditors workpaper to always show the trade creditors listing. Integrated your financial statements into MYOB Practice You can now send your financial statements to MYOB Practice so you can keep all your client’s documents in one place. Updated the export bundles to export the workpapers. You can now export your workpapers to send your client along with the financial statements, or save for your own audit purposes To explore the new features, check out What's new in Client Accounting in MYOB Practice Also coming soon will be new templates for workpapers, so keep your eyes peeled for my next update very soon. Alice Gregory MYOB