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Key changes for Client Accounting in MYOB Practice Compliance
Client Accounting in MYOB Practice Compliance now has pre-configured financial advisory stats, along with a newly expanded chart of accounts.
Both changes give accountants more detail and more control over their work within the Client Accounting workflow.
Get to know each feature release below, or check out the full release notes for Client Accounting.
Financial insights at your fingertips
Sick of skipping back and forth between platforms to find out how your clients are faring? Client Accounting now includes six pre-configured metrics:
Current ratio
Revenue growth
Net profit margin
Debt-to-equity
Asset turnover and
Debtor days.
Drawing on data from client ledger, the feature gives you an instant view of clients’ financial health, without the need to sift through data or scroll through external documentation.
The tool lets you filter by metric, so you can spot outliers and potential issues early, and proactively raise them with your clients.
As you get familiar with insights, you can configure your own queries or integrate data sources, it’s a fast track to deeper insight. This helps you:
see the business health of your entire client base at a glance
identify problems before clients do, like thin margins, rising debt or delayed customer payments
trigger advisory conversations with clients.
See what else you can do with insights.
Flexible control with an expanded chart of accounts and detailed notes
More detail, more depth and more understanding – that’s the goal of our revised chart of accounts and detailed notes in Client Accounting.
The newly expanded chart of accounts lets you control the details included in financial statements, with new and more precise coding across income, expense and liability categories.
One example: Previously, you were working with static descriptions set by the Client Accounting template. The correct total was shown, but the breakdown was fixed. You couldn't change the description or customise the note to separate out accounts material to your client.
With the new detailed notes capability, you can customise further from there. It's now possible to fully customise the descriptions and how the accounts are broken down in the note.
From the initial starting point you can now separate accounts which are fundamental to highlight to your clients. If there are several accounts which need to be re-grouped, we've added the ability to create new manual groups to combine them back together.
Additionally, if you don't like the name of the descriptions in the template or the descriptions of the accounts that have been separated out, you can simply change them. Plus, once you've set it up once per client, it carries forward each period.
With the expanded chart of accounts and detailed notes, you can:
map client accounts with more options for category codes
organise notes, accounts and descriptions in a way that works for you
set up custom workpapers once per client, with new details carrying forward to the next period.
See what else you can do with detailed notes.
Asset data flows from Asset Register to Client Accounting
Ask any accountant where they spend a lot of their time, and reconciling fixed assets will be high on the list.
It requires painstaking manual work to track them all in one place and then report on them in another: You’re moving figures, rechecking depreciation, and tracing additions and disposals manually.
Then, any changes mean updating multiple records. With so much manual input and duplication, it’s an area where accuracy can start to drift. A new integration between the Asset Register and Client Accounting in MYOB Practice Compliance is set to change all that.
With this release of the integration, figures move from one system to the other, at the click of a button, so both reflect the same numbers without manual copying, review or correction.
Less keying, one source of truth, smoother workflows
With the Asset Register acting as a single source of truth, you’ll see benefits across the entire workflow. Your teams enter information once, calculate depreciation then send data through to Client Accounting in Practice Compliance.
With systems and people working from the same accurate data, you see fewer issues crop up as work progresses. Meanwhile, work can change hands without walkthroughs or explanations.
See what else you can do with the Asset Register.
What’s changing for Tax in MYOB Practice Compliance?
For Tax in MYOB Practice Compliance, the focus this quarter is on a consistent, standardised approach to tax preparation, review and lodgement.
We've expanded online tax workflows and added features to support more complex tax scenarios. The online platform will have more functionality, so you don’t have to break your flow.
Get the details below, or check out the full release notes for Tax.
More workflows moving online
Tax in Practice Compliance has expanded its range of online workflows, with the Fringe Benefits Tax (FBT) workflow going fully online from the 2026 FBT year. So now you can get more done without moving between platforms and documents.
Catching up with complex tax needs
You can now manage more complex tax scenarios in the online Tax in Practice Compliance workflow.
For example, employment termination payments (ETP) can now be handled online. Previously, users had to go back to the desktop platform to manage ETP jobs.
We’ve also improved calculation and ATO prefill, which means more accuracy and fewer errors – wins for both you and your clients.
Benefits for accountants
Consistency across your practice: With standardised tax preparation workflows available online, it’s easier for your team to follow the same process and deliver consistent outcomes for all return types.
Simpler end-to-end tax management: Moving more workflows and functions to the online platform makes it easier for accountants to track jobs across the tax cycle, review work, and lodge returns.
What’s next for MYOB Practice Compliance?
This quarter has seen some significant changes for MYOB Practice Compliance, with updates focused on enhancing and expanding capabilities online.
More tax workflows, new financial statement codes, instant financial insights – every change is another step toward a more comprehensive online platform for our users. More compliance and tax work in our platform = more time for you to focus on deeper client conversations.
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.
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