Preparing to upgrade to MYOB Practice tax from MYOB AE or AO - NZ

https://help.myob.com/wiki/x/PwpMAw

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New Zealand only

This information only applies if you have both MYOB Practice and MYOB AE/AO.

MYOB Practice lets you file tax returns using the Inland Revenue's new gateway filing system. With a streamlined user experience, better navigation and more screen space, you can do taxes anywhere, at any time, and even faster than before.

To use MYOB Practice tax, you'll first need to upgrade your desktop AE/AO Tax software. There's no cost to upgrade, and it can be done when it suits your practice.

Why should I upgrade?

You'll need to upgrade to MYOB Practice Tax to prepare tax returns for 2021 and later years, as well as file tax returns after the decommissioning of Inland Revenue's e-filing system on 16 April 2021. MYOB Practice Tax uses the Inland Revenue's new gateway filing service, allowing you to keep filing tax returns, online.

You'll also reap the benefits of an improved user experience, with full screen real-estate for easier navigation and more flexibility in how you reconcile transactions. You can attach documents to directly to transactions when you reconcile Inland Revenue and MYOB transactions, and send tax returns and tax notices directly to your client using the client portal.

How will my workflow change?

The online workflow might be different to what you're used to in AE/AO Tax, but you'll be performing all your client's tax work online in MYOB Practice. You'll reconcile MYOB and Inland Revenue transactions in the Data reconciliation page, prepare provisional and terminal tax notices in Tax notices page, and then prepare tax returns from the Compliance list page – all online, within MYOB Practice.

There are also more workflow statuses, so you can track the progress of tax returns and tax notices even closer than before.

Learn more about the Tax return compliance workflow and the Tax notices workflow.

How do I prepare my practice for the upgrade?

There are a few things you can do now to prepare your practice to upgrade to MYOB Practice Tax, and ensure minimal disruption to your day-to-day business:

1. Check that your client's tax settings are up-to-date

Make sure your client's personal and tax information is up-to-date, including their tax settings in AE/AO, as this will be moved to MYOB Practice Tax during the upgrade.

If you have clients in AE/AO that are no longer clients of your practice, you might want to make them inactive or non-tax clients in AE/AO. Only information for tax clients will be moved to MYOB Practice Tax.

You should also check that your clients’ Tax Email Address and Primary Contact Email Address in AE/AO contain the most up-to-date email address. When you update compliance settings in MYOB Practice, these settings won't be updated in desktop AE/AO. This means if you'll also need to update your client's settings in AE/AO if you're running reports for tax clients from within AE/AO.

When you upgrade to MYOB Practice Tax, we’ll send tax notices to the tax email address if there is one, or the primary contact email address. If you don’t want to send tax notices via email to your client, then you can always change this in your client’s Tax notice delivery preference in MYOB Practice Tax. Learn more about emailing tax notices from MYOB Practice Tax.

2. Check that closed clients are no longer tax clients

Data for all tax clients will be moved to MYOB Practice Tax during the upgrade, regardless of whether they're a closed client. This means that closed clients who are still marked as tax clients in AE/AO, will appear in Data reconciliation, and have tax notices created for them when created in bulk. This can lead to many tax notices being created, which aren't required.

To fully complete the process of closing a client, you need to:

Deselect Tax client in MYOB AE/AO.
Select No in the Tax client field in Compliance settings.
Close the client in MYOB AE/AO.

For detailed steps, see Closing clients.

3. Check that your clients MYOB and IRD transactions are reconciled and up-to-date

Both reconciled and unreconciled Tax Manager transactions will be brought across to MYOB Practice when you upgrade, so it's a good idea to keep your Tax Manager transactions, reconciled and up to date. This means reconciling all your Inland Revenue transactions in your desktop Tax Manager so that they can be moved brought over to MYOB Practice.

Once you've upgraded, you'll start receiving all your Inland Revenue transactions in MYOB Practice. It's important that you continue to reconcile these transactions in MYOB Practice instead of AE/AO, so you don't need to reconcile them again later.

4. Complete the pre-requisite tasks for upgrading

There are a few things you'll need to do before you can upgrade to MYOB Practice Tax:

Activate MYOB Practice
Turn on contact sync
Install MYOB AE/AO version 5.4.36 and MYOB Hotfix 59868757.
Ensure your E-file agency number and client list number has been entered into your AE/AO Tax settings.

Learn how to prepare tax notices and tax returns online by taking our free online course on MYOB Academy. You can also read more about the Compliance workflow, Tax notices workflow and Data reconciliation workflow.

Ready to upgrade?

Now that you're ready, see Upgrading tax from AE or AO - NZ for steps on how to upgrade.

Once the upgrade is complete, you can start reconciling, preparing tax notices and tax returns straight away. You don't need to configure any agent settings or client settings.

Once you've finished upgrading, you might want to check all your client's details have come across to MYOB Practice Tax.

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