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As an administrator, use account grouping to control data flow throughout MYOB Practice. An account grouping (1) contains different account groups (2) that have accounts allocated to them from the chart of accounts (3).
Account grouping controls what data flows through to workpapers, tax reconciliations and tax returns. Financial reports also use your account grouping allocation to work out which notes to include and which single-line account summaries to display in each section of the report. The financial report sorts the account groups by account code or description, depending on the account group properties.
This is where you view the chart of accounts, and view or update account groups.
|A||Include zero balances||Select to display accounts including those with a closing balance of zero.|
|B||View||Select which accounts you want to display—all accounts, unallocated accounts or duplicate accounts. A duplicate account is an account allocated to more than one account group.|
|C||Chart of accounts||.|
|D||Unallocated||The Unallocated tag means the account isn't allocated to any account group.|
The Client tag means you configured the account at the client level.
The Practice tag means you configured the account at the practice level.
The MYOB tag means that MYOB automatically allocated the account when you added an account grouping. MYOB only does this for some accounts. Other accounts are unallocated until you allocate them at a client or practice level.
|F||Save grouping||Saves your account grouping changes.|
You also assign an industry or chart type when adding an account grouping at a practice level. However, the Industry/chart type field is only available when accessing account grouping at a client level.
Select which year's account groups and allocations to display. Account allocations can be specific to a year. For example, if a new tax label is added, you can allocate accounts for the year it's been added so that the correct data flows to the tax label.
|Account folders organised into a tree structure.|
Click to display a menu with more options. The icon appears in a couple of places:
|K||Account and account ranges|
The account codes and descriptions within the account range. Also the range of the accounts that are assigned to the selected account group.
Account grouping should be set up by the person who does your practice admin tasks.
Example account grouping requirements for a practice
- When you first start using MYOB Practice, you need to add your first account grouping and allocate accounts to account groups within that grouping. This tells MYOB Practice how you want different data to be allocated.
- You can jump into the practice settings and allocate accounts to all clients at a practice level.
- You can then make changes to a specific client's accounts if necessary.
- When you make these changes, your client-level changes will take precedence over your practice-level changes. This will, in turn, take precedence over standard MYOB account groups.
- You can set up a brand new account grouping in a specific way for all clients who use the agriculture chart of accounts.
Select a task to start setting up account grouping in a way that best suits your practice:
- Add a new account grouping—Add a brand new group if you want a specific setup for a subset of clients.
- Allocate client accounts to account groups—Make practice-level or client-level changes. You should do this for a client before you can before you start working in their trial balance.
- Configure debits and credits—Select if you want debits and credits allocated to different accounts.
You need to set up account groups in MYOB Practice for all of your practice's clients.
Account groups control what data flows through to different areas of Compliance.
Learn how to prepare a tax return.