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Article ID: 38914

Accountants Office Suite
Accountants Enterprise Suite
Australia
New Zealand
AE Statutory Reporter (NZ)
AO Statutory Reporter (NZ)
Workpapers (NZ)
AO Workpapers (AU)
AE Workpapers (AU)
AO Statutory Reporter (AU)
AE Statutory Reporter (AU)

 

 

ARTICLE LAST UPDATED: 16 October 2018 12:10:00 PM

In MYOB Accountants Enterprise (AE) and Accountants Office (AO) Client Accounting, you have the flexibility to produce Departmental Profit and Loss statements using Statutory Reporter where you have configured an AccountRight file.

To produce Departmental reports, you'll need to set up your chart of accounts within AccountRight, then edit the department settings in Client Accounting.

If you didn't read the last two sentences, this article relates to the following configuration:

Source Ledger: AccountRight 2013.0 or higher
Chart Type: AccountRight

OK. Lets get to work!

1. Define the name of the Departments

AccountRight uses prefixes to identify the account classification, such as income or expenses in the Accounts list. This means when using Statutory Reporter, suffixes or sub codes must be used to define which item belongs to each department. For example:

 

Account Code

Description

Account Type

4-1000

Department Names

Header

4-1001

"Name of Department 1"

Detail

4-1002

"Name of Department 2"

Detail

These accounts are used to define the name of the department as well as the account code suffix relating to each department. This means that:

  • all profit and loss accounts with an account code ending in 1 will relate to Department 1 and appear in Department 1's Department Income Statement.
  • all profit and loss accounts ending in 2 will relate to Department 2 and appear in Department 2's Department Income Statement.

Confused? This is what it looks like:

In this example, the "Name of Department 1" is Sydney which is also the account description of account code 4-1001.

In this example, the "Name of Department 2" is Melbourne which is also the account description of account code 4-1002.

There shouldn't be any journals or transactions allocated to these Department Name accounts. The only purpose of these accounts is so that Statutory Reporter can identify that the ledger contains departments and their name.

Where there is income or expenses incurred by the business that is not department specific, create a new account for this expense with the last digit ending in zero (0). These amounts will appear separately on the Summary Department Report. For example:

For information on creating and editing account codes in Client Accounting refer to the Online Help topic: Preparing Workpapers: Accounts

2. Create Profit and Loss Accounts for each Department

For each Income and Expense account, specify which account's balance relates to each specific department by changing the last digit in the account code to the department identifier.

The Accounts List should look similar to the following example:

Department One

Account Code

Description

4-1001

"Name of Department 1"

4-1101

Sales Income

5-1001

Cost of Sales

6-1701

Electricity Expenses

6-4001

Wages & Salaries Expense

Department Two

Account Code

Description

4-1002

"Name of Department 2"

4-1102

Sales Income

5-1002

Cost of Sales

6-1702

Electricity Expenses

6-4002

Wages & Salaries Expense

3. Edit Department Settings
  1. From within the Client Accounting module, click Edit configuration details. The Edit Configuration Details window appears.
  2. Select This ledger uses departments then click Edit department settings. A tick appears in the checkbox and the Department Settings window appears.
  3. Select Sub Code from the Departments are defined by down-down menu. Additional fields display.
  4. Type the number of digits displayed in the main account code (i.e. the number of digits displayed before the sub-code). For an AccountRight chart of accounts, this number will be 4.
  5. Select Use the name of a specific account in the department then type the code for that account in the Main code field. In the above example, this will be account 4-1000.
  6. Click OK. You are returned to the Client Configuration window.
  7. Click OK. The Client Configuration window closes.

You are now ready to prepare your journals and workpapers. For information on preparing and completing workpapers refer to the Online Help topic: Preparing Workpapers

4. Allocate the Account Ranges to Account Groups
  1. Open Statutory Reporter by navigating to the client's Client Accounting > Reports tab. The Reports tab is selected and a list of available reports appear.
  2. Click Account Groups on the Tasks bar. The Statutory Reporter - Account Groups window opens.
  3. Allocate each account code or range to the appropriate Account Group. Repeat this step until all account codes have been allocated.
  4. Click OK to save and close the Statutory Reporter - Account Groups window.

For information on allocating accounts to a group refer to the Online Help topic: Allocating account ranges to account groups


You do not need to create custom account groups to produce departmental reports. The Department Income Statement will allocate each account code ending in 1 to Department 1's Income Statement and account codes ending in 2 to Department 2's Income Statement. This means you will receive a separate income statement per department.
5. Select and preview Financial Reports
  1. In the Reports tab, click on the checkbox to select a report in the Reports table to be included in the Financial Statements. The following Departmental Profit and Loss reports are available in Statutory Reporter:
    • Summary Department Report
    • Consolidated Department Report
    • Department Income Statement
  2. Once you have selcted all the reports you wish to include in the Financials, click Preview. The Report Preview opens in a new window.