Retain Schedule Data for Single Return

The Retain Schedule Data (RSD) routine converts data contained in the worksheets and schedules from the previous year into corresponding worksheets and schedules for the current tax year, dates are advanced by one year. RSD is normally performed on returns brought into the new ledger following installation and Year-End procedures.

However, when a return which has not been through the RSD process is opened, you are prompted with the RSD Options screen. You must accept the default RSD settings for your practice or make selections appropriate to this return.

The RSD options are checkboxes to allow you to nominate exactly what will be retained for this Return.

Retain Alpha values (Text): This option should be ticked so that all text is retained such as Bank Account details, Dividend payers, etc.

Retain Numeric Values: This option is not a recommended. Selecting it will provide the same values in the new year's return as were in the previous year, with the exception of Capital Gains information and all Rebates and Offsets. If this option is selected, you must check all schedules and worksheets.

Exclude generic sched. with no dollar amounts: Tick this option to exclude generic schedules with no values.

Update Depn. and Capital works deds: This option should be ticked so that the automatic transfer of closing balances to opening balances and the calculation of depreciation for the year will be done.

Carry forward Capital Losses: This option should be ticked so that carry forward losses are retained in the categories and classes.

Retain schedule notes: This option should be ticked so that schedule notes are retained

Delete subschedules: Ticking this option will delete ALL subschedules attached to the return and you will lose all the details entered in any sub-schedule or worksheet.

This option is selected by default. To ensure the integrity of values in the main form that are lodged with the ATO, MYOB strongly advises that you allow the RSD program to exclude blank generic schedules from the roll-over.

Rolling blank Generic Schedules from year to year is dangerous! Information that you think is at the return label can be overwritten if you integrate from a schedule or worksheet that has a zero balance.

If you roll a blank schedule from one year to the next without reviewing the content in the new year then values imported from a general ledger will be overwritten if integration from the ‘rolled’ schedule occurs.

Blank: This button clears every selection and would void the entire RSD process. Therefore you would only do it if you wanted a clear screen to make new selections which, of course, could easily be done by unticking a checkbox you did not want and ticking a checkbox you did want.

OK: In order for the RSD process to commence, you must select this option. When completed the converted return opens in the current year ledger.