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This article is relevant if you're using AccountRight Live, This information is for users who have AccountRight Live or  MYOB Essentials (new)/MYOB Business

As part of moving to the cloud, we're making changes to the MYOB AE/AO to easily integrate with your online ledger.

From AE/AO version 5.4.42, you'll see the following changes:

  • Selecting Select the tax code in the online ledger (instead of AE/AO). This will automatically populate when adding a journal in AE/AO.
  • The Calculate the tax amounts in the journal will be calculated automatically based on the tax code. You can then allocate it to collected or paid accounts.
  • View the tax details in the GST reports based on the tax type selected in the journals. The GST reports are run in the online ledger.
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titleSelecting the Tax code

We've removed the Define GST accounts option that is used for defining the specific tax accounts in AE/AO and replaced it with Define Tax code.

When you select Define Tax code, the Tax codes window in the online ledger will open for you to set up.

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If you're prompted with a login window, use your AE/AO credentials to view the Tax codes in your online ledger.

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titleAdding a journal

After you've set up the tax codes in the online ledger, you can add journals in AE/AO.

Based on the tax code selected, the tax amount will be automatically calculated and allocated to the tax collected or paid accounts.

When adding a journal:

  • TickSelect Apply Tax to post a journal with tax amounts.
  • Tax type: Select Collected or Paid for the tax accounts. This is a mandatory field to be able to add the journal.
    • If you've selected Collected, the tax amount will be allocated to the tax code's pre-defined collected account.
    • If you've selected Paid, the tax amount will be allocated to the tax code's pre-defined paid account.
  • Tax code & Tax Rate: After you select an account, the tax code and tax rate configured for that account will appear.
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If you need to add journals with tax code LCT, LCG, or GW, you'll need to do them in the online ledger directly.

  • Tax Amount: This is calculated automatically based on the tax rate. 
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titleViewing a journal

When you view a journal using the View All or View for Account options, the tax code, tax type, tax rate, and tax amount will display in the original journal transaction. This is useful for tracking purposes.

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titleViewing a transaction

When viewing a transaction for a posted journal, the tax code and tax amount will display if it is available.

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titleGST Report

The GST report in the online ledger will be automatically generated when creating a journal.

The report will include tax amounts based on the following:

  • For the Balance Sheet accounts, the GST amounts on the reports will show based on the Collected or Paid selections made while posting a journal.
  • For the Profit or Loss accounts, depending on the account code the GST amount will show under Sales or Purchase based on if the account is an income account or an expense

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titleRelated topics