MYOB AO

MYOB AO is the latest version of MYOB Accountants Office.

MYOB AO Classic

MYOB AO Classic is any version of MYOB Accountants Office prior to the MYOB AO release.

Client

(Tax Client)

Clients are individuals or companies for which the practice carries out work. They must have a client code assigned to them. Clients can either be chargeable clients, who may be billed by the practice, or internal clients, who are used to hold all non-chargeable costs of the practice.

Contact

Contacts are individuals or companies that the practice may come into contact with. They may be suppliers of products or services to the business — for example, banks, solicitors and tax agents — or prospective clients that the practice wants to keep in the database. The details might be their name, addresses, phone numbers, email addresses, and so on.

Client Code

(Client ID)

A code for the client which can be used to uniquely identify the client. The code is entered when the client is created. Your clients were automatically assigned Client Codes when they were converted from MYOB AO Classic.

Extra

(User Defined Fields)

Extra refers to the additional information that you want to collect about a Client or a Contact. This information appears on the Client > Extra tab.

Associations

(Relationships)

Associations refer to the relationship links between the clients or contacts and other clients and contacts in the database. This information appears on the Client > Associated tab.

Family Group

(Group Area)

Family groups can be used to group together related clients and/or contacts. Family Groups may consist of individuals, companies, trusts or other organisations. This information appears on the Client > Main tab.

Draft Bill

(Unfinalised Invoice)

Draft bills are bills you have started creating and are ready to be finalised to be sent to a client.

Post a bill

(Finalise an invoice)

When a draft bill is posted, it is finalised and ready to send to a client. Posting a bill also moves the client WIP into debtors which allows the practice to keep track of it’s financial exposure.

You can post a bill from the Billing wizard, or the Billing page.

WIP

Work in progress

WIP is considered to be any work or out of pocket expense recorded in MYOB AO (either as time or an expense) that has not been billed to a client.

Debtors

Once a bill has been finalised and posted from WIP, the billed amount is moved from WIP into Debtors.

Account Lookup

IRD transactions for all clients in the practice are downloaded directly from the IRD web services on a scheduled basis, using the IRD login details stored in your Agency list. After the transactions are downloaded, they are automatically reconciled with matching MYOB AO transactions.