Superfund Operating Statement shows movement rather than closing balance

When viewing the Operating Statement report for a Superannuation Fund in Statutory Reporter, you may notice that the balances displayed represent the net movement for the account rather than the closing balance.

This issue affects Balance Sheet accounts that have been allocated to the following account groups:

• Profit and Loss Statement > Expenses > Contribution Surchange
• Profit and Loss Statement > Expenses > Others

A combination of both Profit and Loss accounts and Balance Sheet accounts are used in the Operating Statement. As a result, the account groups are set up to represent either Balance Sheet accounts OR Profit and Loss accounts.

To display the closing balance:

If an account displays the net movement for the period instead of the closing balance, allocate the affected account to one of the following account groups instead:

• Profit and Loss Statement > Revenue > Employer Contribution
• Profit and Loss Statement > Revenue > Member Contribution

This issue is fixed in the 5.4.43 release. Go to my.myob to download and install the update.