Closing the disconnection gaps

If your BAS, tax and client accounting happen in different places, it could cost more than you think. Not just in software subscriptions – but in work that takes longer than it should, complicated handovers, and mistakes showing up more often than you would like. In the long term, that adds up to lost time and less capacity.

With MYOB Practice Compliance, all those key processes live on one cloud platform. With one connected client record, data flows in via live sync or CSV, and workpaper templates mean work is prepared and lodged in the same way every time. Less flicking between tabs, more consistent outcomes.

Bring BAS, tax and client accounting into one place

Compliance is about consistency, not just across clients, but across years – lodging BAS and tax, preparing workpapers, generating financial reports, and keeping clients in the loop. In many accounting practices, these functions live in different systems. Accountants have to switch between apps or software programs to complete each job, and there’s no real way to connect the dots.

MYOB Practice Compliance brings the full compliance workflow together. Key work processes happen on the platform, with a cohesive record for each client. This means any employee can work on any job, from anywhere, whatever the client’s business software.

A full view of every client

It’s hard to keep track of client work when it’s scattered across systems. With Practice Compliance, every financial statement, tax return, BAS document and workpaper is saved in the client’s record. The system tracks changes as they happen, while live data flows in from client systems to ensure every detail is up to date. It’s a full view of every client in a click.

Key benefits:

• Live data syncing

• All documents saved in client records

• Client data prefilled in workpapers

Close the gaps in your compliance workflow

When you’re working with disconnected systems, it’s not always easy to track work progress. Did that BAS get lodged, or is it still being completed? Did anyone update the client’s tax details? Practice Compliance automatically tracks progress for every client – you can even add a note on the workings and tag a co-worker. This means any employee can jump in on any job, with no handover meetings or duplicate work.

Because the system works in the cloud, it lets your people work from anywhere – with just a login and internet connection. It’s also set up for ease of use and simplicity, so your team can hit the ground running. With 91% of practices in our recent MYOB Accounting Industry Monitor report looking for user-friendly, easy-to-navigate practice software, this is a real benefit.

Key benefits:

• Continual progress tracking

• Simple remote access

One platform for every client

Clunky workarounds, separate log-ins, manual data entry – when clients are using different software systems, it can be hard to manage compliance. This can mean missing pieces and inconsistencies – and more work for your team.

MYOB Practice Compliance lets you connect with every client, whatever the business software or ledger. The system connects with common business software, so data flows into workpapers and financial statements without manual entry. You use the same workflow for all work and all clients, which means no need to learn new processes when you take on new clients.

This kind of built-in efficiency is increasingly important for accounting practices, with 79% of growing practices in our AIM report focused on continuous improvement and regular process assessments.

Key benefits:

• Data sync with accounting systems

• One workflow for all compliance work

Simplifying your subscription stack

When you’re using multiple apps and software platforms, the monthly subscriptions add up. Not only that, but every tool has its own login and its own set of quirks.

Practice Compliance includes BAS, tax, workpapers, and financial statements on a single platform – with a single bill to match. MYOB has recently introduced new subscription packages designed to suit different practices. Instead of choosing your own modules within the Practice Compliance system, you choose the package that best fits your business.

Different practices need different levels of compliance support. MYOB Practice Compliance packages are designed to help you choose the setup that fits your practice now, with room to grow.

One system to manage it all

Using multiple systems for compliance work can cause a cascade of issues: missing information, slow handovers, and way too much switching between systems and rechecking details. It means spending more time for unreliable outcomes – the worst of both worlds.

MYOB Practice Compliance is designed to replace disconnected systems with a single, cohesive digital workspace. By shifting the bulk of your compliance work onto the platform, you build capacity and boost consistency in your work. Clients get quicker turnaround times and better insights, while your team gets a system that tracks progress and lets them work from home.

Ready to bring compliance work into one place?

Explore MYOB Practice Compliance and find the package that fits your practice.

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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