Get ready to smash tax time

Everything you need to know to stay ATO compliant

Compliance

MYOB AE/AO 2021 compliance release is now available

The latest version of MYOB AE/AO (5.4.38/2021.0) is available through my.myob

Important: after installing this update, you must also download and install the latest hotfix (66322434), to ensure accurate data is being lodged with the ATO.

This hotfix resolves an integration issue between the capital gains worksheet (with a prior year loss) with the main labels in the tax return and BW schedule. 

Stay superannuation compliant after 1 July 2021

The Government is proposing superannuation reforms, intended to apply from 1 July 2021. 

One of the key changes will see employees automatically keep their super fund when they change jobs. This is known as ‘stapling’ and will make it easier for employees to maintain one single super account that follows them from job to job.

These changes are in addition to the upcoming increase to the super guarantee, which soon moves from 9.5% to 10%.
 

Important information before processing your first pay after July 2021 in MYOB Essentials and MYOB AccountRight

On 1 July 2021, the minimum superannuation guarantee contribution rate increases from 9.5% to 10%.

For MYOB Essentials and MYOB AccountRight files created before 1 July 2021, the super guarantee contribution rate will need to be manually updated from 9.5% to 10%. Read the help articles below to learn how to manually update the super guarantee contribute rate for your pay run. 

EOFY resources

Preparing for the new financial year

Prepare for a new financial year by reviewing your database. It will put you in the best situation for the busy tax peak period ahead. Read the help article below:

Preparing your MAS, Accounts and Asset ledgers for the new financial year

Before you can begin a new year you'll need to perform a few Year End procedures for each client ledger. 

Practice Manager report packs ​

Access report packs that contain additional reports you can import into your database and use. The reports include pre-billing reports as well as 5-year fee reports which are updated each year.

Preparing for the new financial year

Prepare for a new financial year by reviewing your database. It will put you in the best situation for the busy tax peak period ahead. Read the help article below:

Practice Manager report packs ​

Access report packs that contain additional reports you can import into your database and use. The reports include pre-billing reports as well as 5-year fee reports which are updated each year.

To stay compliant, ensure you’re on the latest version of your software. Updates can be downloaded from my.myob.

 

Product news

  

MYOB Essentials dashboard on mobile devices

MYOB Essentials has changed

MYOB Essentials has been completely rebuilt. It now includes many of the features that have been requested by customers and partners. 

This includes powerful Payroll, Jobs, Recurring Transactions, Banking Files (ABA), Remittance Advice, Purchase Orders, Find and Replace along with a completely new Budgeting and Reporting module.

We’re currently in the process of upgrading existing MYOB Essentials files. If you have a customer being upgraded, you will receive a notification with instructions on what you need to do before and after the file is upgraded. 

All upgrades are expected to be completed by the end of 2021.

MYOB Team

   

Access MYOB AccountRight in a web browser

New browser functionality for more flexibility and convenience

Whether you're on the move, working remotely or with your client, choose the way you need to work.  Enrol in a webinar that walks you through what's changed, what's new and accessing your AccountRight data via a browser.  
  
With multiple sessions to choose from, our instructor will give you tips and tricks to get going and answer questions you may have. Available for you and your clients. 

Automatic Updates for AccountRight PC Installer users 

From version 2021.1 onwards, AccountRight customers using PC installer will be upgraded to the latest version automatically, saving you time and ensuring your always on the latest version and in sync with your clients.  No subscription is required.

Get more value out of MYOB Essentials and MYOB AccountRight with add-ons

  

invoicing graphic

Manage employee onboarding, timesheets and payslips online with MYOB Team

Onboard new employees, create rosters, approve timesheets, share payslips, and sync all the information directly to your MYOB software.

invoicing graphic

Automatically reconcile payments with seamless and powerful invoicing workflows

Chasing overdue invoices can be stressful and time-consuming. With powerful new features there’s never been a better time to enable you and your customers with more ways to issue invoices and receive payments.  

Add a ‘Pay now’ button to your MYOB invoices and accept online payments via credit card and BPAY.

For clients in a “partner pays” arrangement, associated fees and charges can now be direct debited on a monthly basis from a separate bank account. 


Please note surcharging your customers is your decision and is subject to limitations and restrictions under applicable law.

MYOB Team

E-invoicing is here

Sending e-invoices is now available in the latest new  Essentials and  AccountRight  browser. It allows the seamless exchange of transaction data between buyers and suppliers who are registered for e-invoicing. 

Batch pay your expenses in one simple transaction

Link a credit or debit card to a business in MYOB, automatically reconcile payments and replace ABA files by making payments direct from your MYOB software. And best of all, earn MYOB Rewards!*

Available now in MYOB Essentials (New) and MYOB AccountRight. Check to see if you or your clients are eligible. 

*The information on this page relates to MYOB Payment Services which is issued by MYOB Australia Pty Ltd (ABN 13 086 760 198) (AFSL 241059) (MYOB Australia). All information provided here is general information and does not take into account your objectives, financial situation or needs. You should consider your needs prior to acting on any advice or making any financial decisions. Please read the MYOB Payment Services Product Disclosure Statement and the Financial Services Guide before deciding to acquire or use this product or service. Fees and charges apply. All applications are subject to MYOB Australia’s eligibility and assessment criteria. MYOB Rewards points can only be earned on eligible transactions. Some exclusions apply. The earn rate for MYOB Rewards points may change over time. For more information about MYOB Rewards, please read the MYOB Rewards Terms and Conditions.