21st May, 2020

Latest MYOB product updates for Practice Solutions – April 2020

If you’re using any of MYOB’s Practice Solutions, here’s a summary of all the latest feature enhancements and updates made in the last month.

Welcome to the April update for your MYOB Practice Solutions.

These monthly updates are designed to keep you up to date with the latest and greatest developments in our practice solutions suite.

Our aim is to keep you in the know with the latest releases, features and enhancements so you can get the most from the tools you’re currently using, and identify opportunities for efficiency gains from those you don’t.

READ: SME product updates for advisors — April 2020

So, what was new in April?

New Accounts Payable Report in Advisory

We’ve listened to feedback from clients who highlight a gap in our advisory suite of reports – Accounts Payable.

This is an important development in allowing businesses to manager their cash flow and supplier relations. It will be a particularly useful cash flow tool for those retail clients who receive payment on purchase and don’t have any accounts receivable.

The report contains the following new sections:

  • Aged Payables
  • Top credits by amount owed
  • Top creditors outstanding bills
  • Outliers

The report will allow businesses to easily view a handy list of the top five creditors or suppliers with corresponding due dates to schedule follow ups. It will also help prioritise the largest overdue debtors for follow up.

For you, the Accounts Payable Report means additional value to your advisory services and the opportunity to provide guidance to clients on managing their cash flow.

Corporate Admin updates

We’ve made contact linking workflows smarter and easier by adding enhanced contact linking functionality and visibility of ASIC data in the client details screen.

Within MYOB Practice you can now view the registered companies, officers and shareholders linked to your client, from the Contacts screen.

This update is available to all MYOB Practice Compliance Corporate Admin users.

EOFY Tax release

The latest release of our Tax Products ensures all users will remain compliant through their respective EOFY periods and FBT returns.

The products covered are:

  • AO Classic 23.0.0 (New Zealand)
  • AE Tax 2020.0 (New Zealand)
  • AE/AO Tax Manager 2020.0 (New Zealand)

FBT Tax release:

  • AE 2019.1 (Australia)
  • AE Tax 6.47 SP3 (Australia)
  • AE Tax 8.31 SP3 (Australia)

Our teams are busy working on the next round of releases and enhancements. We look forward to bringing you more updates next month.