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Reconciling Inland Revenue data

If you use MYOB AE/AO, once you've upgraded, you'll start receiving all your Inland Revenue transactions in MYOB Practice. So it's important that you continue to reconcile these transactions in MYOB Practice instead of AE/AO, so you don't need to reconcile them again later.

Reconciling transactions

There are two types of transactions in Data reconciliation:

  • IR transactions are downloaded directly from Inland Revenue and reflect the transactions in your client's myIR account.

  • MYOB transactions are transactions that you've added manually, or that have been generated as a result of a tax notice or tax return created in MYOB Practice.

You can reconcile multiple transactions at once, and of different transaction types. For example, you can reconcile two IR transactions (payment and a transfer) and one MYOB transaction.

Transactions will be automatically reconciled where:

  • the MYOB transaction and IR transaction amounts are similar (within $0.05 of each other)

  • the transactions are dated within 7 days of each other.

  • they have the same transaction type.

When you file a tax return a transaction for the tax return assessment, refund or transfer will be added.

Reconciled and unreconciled transactions panels

The Reconciled transactions panel will only be displayed if there are transactions in those categories. The Unreconciled transactions panel is displayed even if there are no currently unreconciled transactions, so that you can always access the Add MYOB transaction function.

Adding an unreconciled MYOB transaction is useful if you want to make an expected transfer or payment outside of what the tax return or tax notice would normally create. For example, if you use tax pooling.

Unreconciled MYOB transactions for payments or transfers will be shown as part of the tax return information. However, these transactions won’t be used in calculations by tax notices. Tax notices will only use reconciled and unreconciled IR transactions in calculating payments required.

Checking and refreshing data

We check for new IR transactions every night, automatically. Any new IR transactions will appear in your client's Data reconciliation page, ready for you to reconcile the very next day. Learn more about when we receive IR data.

You can also check for new Income tax, Tax credits, Student loan and Working for families transactions at any time using the Data reconciliation Refresh IR data button.

Refresh IR data button highlighted in the top right of the Data reconciliation page.

Different ways to reconcile