MYOB AE/AO release notes—5.4.40 (Australia)

Release date—23 September 2021

This release (5.4.40) includes the following changes.

Client Accounting

We've made a number of improvements to Client Accounting:

Performance improvements when working on Client accounting. For example, when clicking the Client Accounting tab, opening or adding workpapers, and posting journals.
a new application called New Relic will be installed when installing this release. This is to monitor time and performance of the client accounting module when performing certain tasks. Read more about New Relic.

Changes when using New Essentials ledger

You'll see our new product name - MYOB Business when configuring a ledger in Client Accounting.

Workpapers

We've fixed the following issues in the workpaper templates.

In the Dividends received workpaper,

the Franking credits were incorrectly calculating at 27.5% instead of 26% when Received from a SBE was ticked. This is now fixed and it will calculate at the correct rate of 26%.
we've changed the heading description from Received from a SBE, to Received from a Base Rate Entity.

In the Dividends paid - shareholder distribution statement,

the Franking percentage was incorrectly calculating at 27.5% rather than 26% when Tick for Small Business Tax Rate was ticked. This is now fixed and it will calculate at the correct rate of 26%.
we've changed the heading under Franking percentage from Tick for Small Business Tax Rate or leave blank for Company Tax Rate to Tick for Base Rate Entity Rate or leave blank for Company Tax Rate.

Document Manager

We've increased the file size from 18MB to 100MB when publishing a document to Portal from Document manager.
You can now select to show the date range of up to 120 months in the client's Documents tab.

MYOB Practice Tax

This release includes a feature that will enable you to move tax returns online effortlessly from MYOB AE to MYOB Practice. We've made it easy to roll back to AE if there's a problem moving a return online.

To learn more, see Getting started with MYOB Practice Tax (AU).

There are more features coming soon to MYOB Practice Tax. These will be available as an online upgrade, and no install is required.

Tax

Includes all of the previous tax service pack releases and the latest hotfix

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