MYOB Essentials tech tips

Add a message to your invoices — November 2017

Whether it’s “Merry Christmas!”, “Happy Holidays!” or “We’re closed over Christmas”, why not add a personal message to your end of year invoices? It’s a great way to spread some cheer or announce business changes.

You can add a note to an invoice or quote using the Notes to customer box when entering the invoice or when creating the quote. If you want the same note to appear on all your invoices or quotes, select the Remember this option.


To remove the note from the invoice or quote you’re viewing, delete the text from the Notes to customer box.

To remove the note from all future invoices or quotes, also select the Remember this option.


Make your invoices and quotes shine — October 2017

Have your invoice and quotes really reflect your business’s personality by adding a logo or banner.

In your invoice and quote settings, you have full control over the styles and themes of the documents you send to your customers.

Add your business’s logo and details to the top of your quotes and invoices, and customise their size and placement.

You can even choose what contact details to include, including website, email, address and phone number.

Is a plain logo just not cutting it anymore? Try adding a full width header to your quotes and invoices for that professional look.

Just make sure you include your business details in the image if you want them, as they won’t appear on their own. And just like with your logo, you can choose a theme and colours, and whether to format the address so it works with a windowed envelope.

Take a moment to check out the Invoice and quote settings help page for more information on how you can make your invoices and quotes look great.


Save time on data entry by using the In tray — September 2017

The MYOB Essentials In tray makes it easy to upload, enter and track your supplier invoices.

Simply upload the supplier invoice into Essentials and link it to any Essentials bill, so you’ll always have them on hand when you need them.

You can even create a new bill from the uploaded supplier invoice.

Essentials will use the smarts behind optical character recognition (OCR) to read and automatically fill in as many of the fields on the bill as possible.

And because you’re entering expenses as soon as you receive them, you’ll get a clearer insight into what you owe your suppliers.

For more information on using the In tray, see Uploading supplier invoices.

Preventing credit card fraud — August 2017

Whether you trade online or offline, your business is always at risk of fraudulent transactions resulting from stolen credit cards or other buyer scams.

But don’t worry – here are a few things to look out for to protect your business and minimise the risk of customer disputes and chargebacks.

  • Is the customer placing an unusually large order, or large quantities of orders in a short period of time?
  • Is the order being paid for using multiple cards? This could suggest the buyer is trying to avoid card limits.
  • Do you have an order where the shipping address is different to the billing address?
  • Are you receiving multiple orders to different customers at the same address, or is the address from an unusual location?
  • Is it a large order or expensive goods where the customer requests next-day or expedited shipping?
  • Can’t contact the customer via phone or email?
  • Has the customer asked you to pay for freight which they’ll reimburse later?

While these activities won’t always be fraudulent, if it seems suspicious it’s worth taking the time to check.

HELP: Learn more about protecting your business

The easy way to amend a payment summary

Things don’t always go as planned around tax time.

Fortunately, MYOB Essentials makes it easy to amend PAYG payment summaries if incorrect payment amounts, tax withheld, or payment codes were used.

From the PAYG Payment Summary Centre, click Enter payment summary info.

Next, click the second step down – PAYG Summary details. Here you can choose the type of payment summary you are preparing, whether it’s a new PAYG summary or an amendment.

Choose the amendment option and continue preparing the payment summaries using the amended information.

For more information on producing PAYG payment summaries, see the MYOB Essentials Help Centre

The benefits of locking your financial year

So you’ve closed your financial year and knocked it out of the park. If you and your accountant are satisfied that your accounts are all reconciled and you’re not going to be making any adjustments, you can “lock” the year from within your Business details settings.

Locking your financial year means that you won’t be able to accidentally enter any transactions that will affect your reports, BAS and anything else you’ve already reported to the ATO. Don’t worry – if you need to make any changes later on, you can always go back and unlock the period. For more information on locking periods, see the Locking periods online help page.

BONUS TIP: A Super Idea!

Process your next super guarantee early (before June 30), to qualify for a tax deduction in the 2016/17 year! To do this, simply submit your super payments via PaySuper, or MYOB’s super portal by MYOB’s processing deadline of 25 June.


Stay compliant with these EOFY tips

We’ve recently updated Essentials with some important compliance changes for Australian businesses who hire working holiday makers or pay fringe benefits.

If you hire working holiday makers (visa subclasses 417 or 462), new taxation rules came into effect on 1 January 2017. To help with this tax rule change, we’ve put in a new tax table you can assign to working holiday makers. Note that you will have needed to register with the ATO to use this tax table. For more information, see our Working Holiday Maker help topic.

There’s also been a change to the way businesses who fall under Section 57A of the Fringe Benefits Tax Assessment Act 1986 report fringe benefits. Affected businesses are mainly not-for-profit organisations and some public health institutions. If your business falls under Section 57A, you now need to report exempted fringe benefits. We’ve added a new section in your Payroll settings called PAYG payment summaries, where you can designate your business as falling under Section 57A. Essentials will then add the necessary fields when producing your payment summaries. For more information, see the Set up your payroll help topic.

Backpacker tax and Essentials

From 1 January 2017, tax rates changed for working holiday makers who are in Australia on a 417 or 462 visa. This new tax rate is commonly known as the ‘backpacker tax’.

To use this new tax rate, you needed to by January 31. If you didn’t register but need to pay working holiday makers, you’ll need to assign them the applicable Foreign Resident tax. If you’re not sure which tax table to use, check with the ATO.

We’ll be releasing an update later this year to cater for the new tax rate. Until then, if you’ve registered you can tax working holiday makers using the Approved withholding variation located in your employee’s tax details.

For all the details on setting this up, see our help topic Withholding the ‘backpacker tax’ in MYOB Essentials