MYOB EOFY Upgrade 2010/2011

MYOB Australia has advised that the 2011/2012 Compliance Release is now available for AccountRight Users.

Updated products include MYOB AccountRight Plus v19.6 MYOB AccountRight Premier v19.6 MYOB AccountRight Enterprise v19.6

Changes you should be aware of…

• Flood Levy - A new Temporary Flood and Cyclone Reconstruction Levy (Flood Levy) will assist with rebuilding infrastructure following the recent floods.
• Paid Parental Leave - The Paid Parental Leave requirement starts on 1st July 2011. Further information is available at Family Assist to confirm their requirements.
• Low Income Tax offset - The Government has increased the amount of the low income tax offset (LITO) it delivers to low and middle income earners.
• HECS, HELP, SFSS and Medicare Levy - Tax scales relating to HECS, HELP, SFSS and the medical exception scales have been updated with the new indexation.

How do I access the Compliance Release from MYOB?
You can download the Compliance Release via my.MYOB under “My Products”.
The Compliance Release will be sent to you direct from MYOB on DVD if you have a current support plan.
If you are unable to access the download, please call MYOB Customer Service.

If you are updating from MYOB AccountRight v19.5 to v19.6 the Datapel WMS Plus, Professional, and Enterprise v1.6.150 and above will be compatible with the upgrade.

Important Upgrade Steps:

• Perform a MAINTENANCE REPLICATION and Invoice all Shipped Orders from WMS to MYOB.
• Always Backup your WMS Workspace and MYOB Companyfile prior to upgrading.
• Install your MYOB Compliance Update following the MYOB provided instructions.
• Make sure you reconcile the bank account to the 30th of June.
• Replace your old MYOB Companyfile with the upgrade Companyfile with exactly the same file name and path as below:
  

1. With the MYOB file open, It is recommended you first create a subfolder in the current Companyfile path called Companyfile2010-11 or change the name of the old file to FileName1011.myo.
2. You will also need to have an unzipped version of the file to run the payment summaries, so you will also put a full copy in the Companyfile2010-11 folder.
3. Deleting the old file is not recommended, always copy and paste over the Old Companyfile - this will preserve any security settings that may be applied directly to the MYOB Companyfile.
4. Make sure All Users are logged out of the MYOB program and WMS program - delete and LCK files that might exist in the Companyfile folder.
5. Upgrade the existing MYOB Companyfile from a COPY - once upgrade completes replace the existing (previous version) Companyfile with the upgraded file (both MYO and .BOX file)
   

• Before Starting the MYOB program you should run WMS - this will create a necessary wms-myob.exe in the new MYOB installation folder.
• Click on your shortcut to start your MYOB AccountRight and verify the new version opens your file and from the HELP ABOUT the version has changed.
• Update any Shortcuts to reference the correct MYOB folder.

You will not be able to start entering payroll transactions in July until you have rolled the payroll year over. However, once you have rolled the payroll year over you will not be able to print payment summaries. You should print the payment summaries before you roll the payroll year over, or you can use the prior year file we created above.
Once the payment summaries have been printed you can roll the payroll year over through File/Start a New Year.

Detailed Guide: End of Payroll Year Guide

You should not roll over the financial year until final tax entries for the current year have been received from the tax accountant and entered. Keep the “current year” as the previous financial year and just run reports for “Next Year” until the Tax Return has been finalized.

Before you roll over you should make sure you get any tax entries from the tax accountant for the current financial year before you roll over, otherwise you will not be able to run any profit and loss reports for the new financial year. To actually do the rollover go to File/Start a New Year/Start a new Financial Year.

Detailed Guide:End of Financial Year