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Do not delete this page - MYOB Practice navigates to it from within the product

Annual Statements are retrieved from your ASIC mailbox automatically each day. You can find them in the All clients > Corporate admin> Annual statements view.

To download the Annual Statement pack from ASIC, click the ellipses button for the company and choose Download documents.

Annual statement status

Companies due to receive their annual statement will appear in the Upcoming tab. Once the statement is received, you can download the statement and start reconciling your client's company information.

As you complete the annual review process, we'll update the status for you - including when the annual fee has been paid and documents are approved and signed.

Here's what each status indicates:

StatusDescription
All outstandingDisplays all annual statements with a status of "Requires action" or "Awaiting client ...".
UpcomingDisplays a list of companies due to receive their annual statements within the next 30 days.
Requires actionDisplays all annual statements requiring agent action, such as reconciling company information to ensure its current, or where a task has not been created and sent to the client.
Awaiting client (payment / signature)Waiting for client to pay the annual fee or approve and electronically sign the documents in the client portal.
DoneCompany details are reconciled and up to date. Your client has paid the annual fee and documents are approved and signed.

Completing an annual review

To complete the annual review process, you'll need to perform the following tasks. These tasks can be performed in any order:

  • Compare the company's information on ASIC's records to the company information in your MYOB database.
  • Send the Annual statement pack and solvency minutes to your client for signing.
To compare your ASIC and MYOB company data
  1. From the Annual statements view, click the ellipses button and choose View comparison report. The Annual Statement data comparison page appears.

  2. Compare the data in the ASIC database column against the data in the MYOB database column. We've added a status column to help speed things up:

    StatusDescription

    The company details in MYOB Practice matches the data on ASIC's records.

    The company details in MYOB Practice is different to the data on ASIC's records.
To send documents for signing

From the Annual statements view, click the ellipses button and choose Send for signing. The Create task page appears.

The task created contains the following files:

File nameDescription
Annual_Statement_pack.pdfThis contains the Annual statement received from ASIC including an invoice for the annual fee.
Solvency_statement.pdfThis is a statement of solvency minutes for your client to sign and return to you for filing.

The Signature required is selected by default for the Solvency statement, but you can select the user or contributor that needs to digitally approve the documents.

  Frequently Asked Questions (FAQs)

How do I send the annual statement pack to my client without creating a task?

From the Annual statements view, click the ellipses button for the company and choose Download documents. The <Company Name>.zip file downloads.
The <Company Name>.zip contains the following files:

File nameDescription
Annual_Statement_pack.pdfThis contains the Annual statement received from ASIC including an invoice for the annual fee.
Solvency_statement.pdfThis is a statement of solvency minutes for your client to sign and return to you for filing.

Once downloaded, you can attach the documents to an email, print and send via post or hand them to your client in person – whatever you choose.

Can I update annual review status manually?

Well, sort of. You can tell us whether the annual fee has been paid or if documents have been signed.

From the Annual statements view, click the ellipses button for the company and choose Mark as Paid or Mark as signed.

If your client has paid the annual fee or electronically signed the requested documents via their client portal, we'll update the status for you.

If your client has paid the annual fee by mail, it may take a while for the payment to show up on ASIC's system.

 

 

ASIC applies encryption to Annual Statements, this means we can not send the document for electronic signature via portal. However there is no compliance requirement to sign this document, only the “Solvency Declaration” that is created with the statement requires a signature, this is supported in the portal workflow