30th June, 2025
When you’re running a busy accounting practice, little efficiencies add up. Change the way you save documents, map accounts, or check due dates, and you could save serious time in your day. That means more time for employee development and client engagement.
The latest updates to MYOB Practice Compliance are all about enhancing productivity, accuracy and ease of use — and they could make a real difference in your day-to-day work.
AI-powered mapping, new financial statement templates in Client Accounting, enhanced support options and compliance updates in the Tax module. Here’s a look at key changes rolling out this quarter:
Client Accounting launched earlier this year, initially with workpapers and statements for Company structures only. Since then, we’ve added reporting for Trusts, Partnerships and Sole Traders, making it suitable for all major entity categories. Even more exciting: our first AI feature is now live, with more capabilities to come for the product.
If you’re an accountant, you’ll know that account mapping is a time-consuming and fiddly job. For every chart of accounts, you might spend one or two hours manually scrolling through transactions and linking them to the right accounts.
Automated AI account mapping is changing all that. It’s an AI-powered tool that takes on the repetitive, manual work of account mapping, pre-filling fields and linking the most likely accounts for you. And the more you use it, the smarter it gets. It learns from patterns across all your mapped files, improving speed and accuracy for every client — not just the ones you’ve worked on before. It’s a faster, easier way for your team to get through mapping and reduce the risk of account errors.
With the introduction of Trust, Partnership and Sole Trader reporting, Client Accounting can now handle all four major entity types, marking a real milestone for the product. With tailored reporting formats for each structure, your practice can handle a broader range of clients on the MYOB platform. This means you can deliver consistent, compliant reporting for more clients, with less toggling between systems or relying on legacy software.
Key benefits:
Find out more about Client Accounting here.
Are support queries disrupting your workflow? If you have to click away from your system to Google a complex tax question or phone the product support line, it can eat into your productivity over time. For busy accountants, that’s not ideal.
Enter MOCA, our brand-new virtual assistant. This smart, AI-powered tool lets you ask questions directly from inside the software, surfacing answers instantly. It’s trained on MYOB’s verified knowledge base, so it can help with all your tricky questions — from resolving an ATO error message to navigating a complicated tax return workflow. Plus, it’s freely available for all users of Accountants Enterprise (AE) and Accountants Office (AO).
Just click the ‘Chat with MOCA’ button, type your question, and the virtual assistant will give you an answer in seconds. It’s an efficient way to resolve issues without getting off task and impacting productivity — particularly at the start of the new tax year.
What’s happening to MYOB’s cloud tax software? The latest changes include our annual compliance update for the new tax year, a simpler way to view tax lodgement dates, and new standalone tax return forms for even more entities. They’re all aimed at elevating service for your clients and helping your team thrive.
The ATO introduces legislative updates every year, which means tax software providers must update their software to ensure accountants are keeping their clients compliant with the most up-to-date forms, calculations, thresholds and validations. These updates are critical so that accountants can start preparing tax returns for their clients as soon as the financial year ends.
As of late June, we’ve applied the 2025 updates across Tax in AE/AO and Practice Compliance, so your practice can prepare and lodge tax returns just before the start of the new tax year.
This means there’s no need to double-check compliance details, and it’s less likely that lodgements will be rejected for non-compliance.
Tracking tax lodgement dates for clients just got easier, with direct access to the Income Tax Client Report (ITCRPT) from within the cloud-based MYOB Practice Compliance.
This update will let your team:
The update is also a significant step towards fully automated lodgement reporting in future releases.
We’ve brought even more tax capability to the cloud: the introduction of standalone Family Trust Election (FTE) and Interposed Entity Election (IEE) returns. This update means that these specific forms can be lodged in Practice Compliance without being attached to an income tax return.
It’s a simple change that eliminates the need for manual workarounds, making a critical compliance step quicker and easier for you and your team.
MYOB Practice Compliance is an ever-evolving product, with new features and functions being added regularly. We frequently introduce new workpapers, reporting and tax capabilities, moving towards a system that will let you manage all your clients’ compliance needs in the cloud.
While changes will vary, the broader goal remains the same: helping accountants boost productivity, elevate their service delivery, and build strong, thriving teams.
Information provided in this article is of a general nature and does not consider your personal situation. It does not constitute legal, financial, or other professional advice and should not be relied upon as a statement of law, policy or advice. You should consider whether this information is appropriate to your needs and, if necessary, seek independent advice. This information is only accurate at the time of publication. Although every effort has been made to verify the accuracy of the information contained on this webpage, MYOB disclaims, to the extent permitted by law, all liability for the information contained on this webpage or any loss or damage suffered by any person directly or indirectly through relying on this information.