11th March, 2021
Allocation templates, software updates and streamlined onboarding processes are all among the various MYOB product updates from February.
Over the last month, users were given several new features in both MYOB Essentials and AccountRight Browser, alongside a new update for the latter.
With a new onboarding feature in MYOB Teams as well, we have been hard at work to provide you with the best products we can.
Continue reading below to discover all the new capabilities MYOB has on offer for you.
In MYOB Essentials and AccountRight, a JobMaker tab is now available in the payroll reporting centre.
As you will be aware; the JobMaker Hiring Credit scheme redemption period is coming to a close at the end of the month.
If you’d like more information, you can check out a one-minute video from the ATO to learn all about the scheme. You can also visit our Community Forum discussion about this and learn how to handle JobMaker payments in your software.
Please keep in mind that to claim the JobMaker credit, STP compliant software is required, and that the ATO will be making digital resources available for JobMaker claimers.
Within the sotware users now have the ability to prefill their bank transaction allocation tab with banking rule allocation details. Allocation templates can be accessed via the Bank Rule screens, and bank feed transactions on the Bank Transactions page.
This feature can reduce the time users spend filling up the allocation with the details often used.
This lets users create a coding template to allocate frequently used Spend/Receive Money transactions faster.
Users also now have an ability to create banking rules with no conditions*, which means more flexibility for how you manage transactions.
This feature is currently available in BETA for both SME and Partners.
*When the rule type is set to ‘Allocation template’ users do not need to specify the bank statement match conditions
Users can now edit the basic details of the tax code within their software under the Accounting > Tax Codes menu.
Being able to edit basic tax code information will mean that users will no longer need to reach out to MYOB support to make the necessary amendments to the tax codes used in the software.
There are no major changes in the Tax Code interface except that tax codes can now be edited. To edit a tax code, simply click on the code you would like to edit.
For further information on how to manage tax codes in Australia, click here. New Zealand-based advisors can find the information here.
Previously, when switching to MYOB from any competitor programs, users were only able to bring their data across if they migrated to AccountRight or Essentials (old). But now, users can officially migrate their data directly over to the latest version of Essentials.
Users can migrate to any of the below MYOB products:
Our MYOB AccountRight 2021.1 update is now avaialble to MYOB, Add On Partners, and SMEs. The update is available for download through my.MYOB and the MYOB website through Software Downloads.
MYOB AccountRight 2021.1 includes automatic updates, superannuation status improvements (AU only), and bug fixes.
For information on the update and how to download it, check out ‘What’s new in AccountRight‘.
A checklist screen has been added as the first step in the MYOB Team onboarding wizard to help companies set up MYOB Team the right way from the initial set up.
The new checklist items include email address, business address, phone number, default superannuation, and timesheet preference. Once all steps are completed correctly, administrators can access this page anytime.
For more information on this new update, please refer to our MYOB Online Help page.
The Small Business Digital Adaptation Program has been extended and is now accepting applications through 30 June 2021.
This program allows eligible Victorian businesses to trial and then receive access to MYOB digital products, tools and training they can use to build digital capability in their day-to-day operations.
Businesses can start using a new product or restore access to a lapsed product under this program, with upgrades to existing digital tools also included. Once businesses have purchased a product, they can apply for a rebate of $1,200 to access the product for 12 months.
Find out all the details about the program here.