9th November, 2021
An overview of soon-to-be-released enhancements and new additions for busy accountants and bookkeepers, here’s what to expect in MYOB product in time for the New Year.
As the calendar year draws to a close, we know business operators and their advisors are busier than ever.
Whether you’re planning for the year ahead, or still trying to make the most of this year’s business activities, MYOB is working to help make sure you’re efficient and effective when you’re busy.
For MYOB users, that means getting the most out of your product. With that in mind, here’s an overview of the time saving features and functionality arriving in the coming weeks.
Looking for the latest updates and insights from MYOB Showcase? View presentations on demand at the Showcase Hub.
MYOB will be bringing in some of the key workflows accountants and bookkeepers have been using in other products to assist with the upgrade process to MYOB Business.
In some cases, these workflows have also been tweaked to be even more intuitive than before.
Workflows arriving in Q4:
Likewise, further enhancements are being made to management reporting, bringing more functionality to MYOB Business reporting.
MYOB is ready for Phase 2 of STP, which sees new reporting requirements added to Single Touch Payroll.
That means you will be able to start working with clients to supply any additional details as required.
At the same time, we recognise some customers and small business operators may need more time to prepare this information. For this reason, MYOB has successfully sought a deferral for any customers that need it. Existing customers now have until 1 January, 2023 to get the necessary documentation prepared.
MYOB will continue to upgrade existing users of the older version of MYOB Essentials onto the latest Essentials, providing all the benefit of our more recent feature releases.
Users of older versions of Essentials will be notified of their upgrade via in-product messaging.
Throughout the third quarter, MYOB began inviting select accounting practices to try out tax workflows and features bundled into Practice Tax.
In Q4, MYOB’s taking this further to equip practices with the right level of training and support required to ensure practices get the most out of this solution as more practices seek to take on Practice Tax into 2022.
MYOB will soon be adding the ability to do bulk updates for individuals and businesses that change their name or address, ensuring ASIC data is matched across relevant entities.
All the forms will be created in bulk in one process, rather than creating the documents on an individual basis, giving advisors much-needed consistency of information.
To find out more about the new features and products we’re working on in MYOB Practice, visit the relevant MYOB Help page.