What's arriving in MYOB product Q4 2021


9th November, 2021

Next 90 in NZ: What’s arriving in MYOB for Q4?

An overview of 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 Essentials and AccountRight: Additional workflows coming soon

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 Essentials and AccountRight.

In some cases, these workflows have also been tweaked to be even more intuitive than before.

Workflows arriving in Q4:

  • Invoicing
  • Banking
  • Purchases

Likewise, further enhancements are being made to management reporting, bringing more functionality to reporting.

Essentials upgrades to continue (old to new)

MYOB will continue to upgrade all users of the older version of MYOB Essentials onto the latest Essentials, providing all the benefit of our more recent feature releases. Payroll files are scheduled to begin upgrading towards the end of 2021.

Users of older versions of Essentials will be notified of their upgrade via in-product messaging.

MYOB Practice: Tax return changes

Changes to tax returns in MYOB Practice have arrived in time for EOFY, making it easier to identify the source of transfers by displaying details like the IRD number, client name, tax period and tax type.

You will soon be able to auto-create transfer schedules, while the new ‘Documents’ tab in compliance will offer better ways to source tax returns.

A very highly requested addition will add comments to tax notices, enabling users to add notes about a client and keep track of key information, without these comments being visible to anyone else.

Administrator access will also soon include the ability to customise the body of emails sent with tax notices. This feature will be released incrementally, and will enable you to create consistency across practice communications.

MYOB Practice: Terminal tax improvements

MYOB has also committed to updating fields in the Tax Notices page for terminal tax, to make it easier to track MYOB transactions.

The following fields and features will be included in these changes:

  • Payments & transfers — this existing field will only display reconciled IR transactions from Data reconciliation
  • Expected payments & transfers — this new field will display expected MYOB transactions from Data reconciliation
  • Student loan and related payments in the terminal tax notice will be automatically sourced from Data reconciliation

MYOB is also working on creating the expected transactions for the assessment, payments and transfer for the ‘Tax Credit’, ‘Student Loan’ and ‘Working for Families’ tax types from the return information, once it’s been filed.

To find out more about the new features and products we’re working on in MYOB Practice, visit the relevant MYOB Help page.