Creating clients

The ability to clone a client is not available in MYOB AO.

Accessing reports

Billing/Invoicing

Invoicing (MYOB AO Classic) is called Billing in MYOB AO. The functionality is similar in both products, however the following features are not available:

• The ability to generate a batch of invoices for outstanding WIP across clients

• Write off reason codes (Workaround: you can use the Billing explanation code to achieve this)

• Apply write off as a % of the bill

• Ability to apply one paragraph to multiple task codes

• Ability to charge interest on overdue debts.

Timesheets

Timesheet entry in MYOB AO is similar to the process followed in MYOB AO Classic.

However, the ability to specify a default charge out rate on work (task) codes is not available.

Workflow/Jobs

Workflow (MYOB AO Classic) is called Jobs in MYOB AO. The functionality is similar in both products, however the following is not available:

• Budget Hours

• Quote Amount

• Link to the Tax return filed date.

Debtors

In MYOB AO, debtors statements for individual clients are created using the Reporting page (accessed using the Reports icon in the toolbar).

IRD Data

The rules to auto reconcile IRD data are preconfigured and cannot be changed in MYOB AO.

The variances accepted by the auto reconciliation are:

• FAM tax accounts   5% of original calculation

• INC tax accounts   $0.05

• REB tax accounts   $0.05

• SLS tax accounts    5% of original calculation

• tolerance for payments   7 days

Reconciliation

Reconciliation available on all account types

In MYOB AO, Tax Manager allows the reconciliation of income tax, tax credits, working for families and student loan. In AO Classic, only the income tax account was available for reconciliation. On conversion, you may have a number of unreconciled transactions that were unable to be reconciled in AO Classic previously.

Tax notices

In AO Classic, tax notices automatically include offsets. For example, the income tax account owed will be reduced by any credits from Working for families and IR526 tax credits. In Tax Manager these accounts are treated independently, therefore transfers between accounts will need to be done as required.

Working for families tax credits

For returns not yet started

For the terminal notice of a tax return that is not yet started, AO Tax Manager includes the Working for families tax credits, whereas AO Classic does not.

For completed returns

The working for families tax credit is migrated from the tax return, whereas the AO Classic use the assessment value from Tax Management. The tax return may have an incorrect value for some clients.

When you accept the assessment for the working for families tax credit, the tax notice will be updated to the accepted value.

Payment transactions dated the same date as the tax notice due

In MYOB AO, if there is a payment made on the same date as the tax notice due date, Tax Manager reduces the amount due by this payment. AO Classic did not.

Student loan amount due – Provisional notice

For the provisional notices, AO Classic calculates the student loan amount payment based on the prior year, if the current year income is not yet entered. AO Tax Manager does not yet calculate this way. This function will be introduced in a future update.

Reporting

Tax Manager allows you to interactively manage all your client’s tax information on the screen without having to produce and print reports.

All

The Trust ledger is only available in MYOB AO Classic.