Australia only
A new small business pool asset can be added to the current year. The asset can be:
added as a purchase in the current year, or
loaded as a previously depreciated asset if it was purchased in a prior year.
To apply accelerated depreciation for assets, either:
- from Assets, click the asset year and click Apply accelerated rate on the Tasks bar, or
- to use MYOB Practice, from Assets, click View in browser on the Tasks bar and follow the steps in Accelerated depreciation rules.
Taxation only asset
When creating a Taxation only small business pool asset, we recommend the following workflow:
Creating a Taxation only small business pool asset
- Configure the control group using the Maintain Control Group window. See Creating a control group.
- Map the relevant general ledger account codes for the small business pool using the Small business pool summary window. See Small business pool summary.
- Create the small business pool asset using the Create New Asset Wizard.
Creating a new Taxation only small business pool asset with the Create New Asset Wizard is a 3-step process:
Accounting and Taxation asset
When creating an Accounting and Taxation small business pool asset, we recommend the following workflow:
Creating an Accounting and Taxation small business pool asset
- Configure the control group using the Maintain Control Group window. See Creating a control group.
- Map the relevant general ledger account codes for the small business pool using the Small business pool summary window. See Small business pool summary.
- Create the small business pool asset using the Create New Asset Wizard.
Creating a new Taxation only small business pool asset with the Create New Asset Wizard is a 4-step process:
If you attempt to create a new asset without having a control group configured a message is displayed. Click Yes to open the Maintain Control Group window and see Creating a control group.