Forum Discussion

DFulton's avatar
DFulton
2 years ago

Contractors Taxable Payments Reporting

We transitioned over to MYOB as at 1/7/22. Some of our opening Supplier balances (invoices dated June / paid July) need to be included in FY23 Contractors Taxable Payments Report but for some reason ...
DFulton's avatar
DFulton

Thank you for your reply.

 

I have the 'I REPORT TAXABLE PAYMENTS MADE TO CONTRACTORS' box ticked under Reports and Forms, but it is still not picking up any suppliers opening balances paid July22 in the FY23 'taxable payments report'.

 

 

 

 

Princess_R's avatar
Princess_R
MYOB Moderator
2 years ago

Hi DFulton 

 

Thank you for your response.

 

Kindly check your current FY under Set up >> Company information it needs to be 2022 - 2023. Could you also please ticked the preferences in the suppliers card file and see if it works.

Here's our Help Article, Reporting taxable payments, that has detailed information you might find useful.

 

Please le me know how you go about this.

 

Cheers,

Princess

  • DFulton's avatar
    DFulton
    2 years ago

    The current financial year is 2023 which is correct.  

     

    I have unticked and re-ticked the 'Reportable Taxable Payments' in their card file just in case.

     

    I am starting to think it must have something to do with my Conversion Month which is July 2021 when it should have been July 2022 but I dont know how that would cause this issue.

     

     

    • gavin12345's avatar
      gavin12345
      Ultimate User
      2 years ago

      Hi DFulton 

       

      Suggest you follow the Help Article as suggested by DFulton. This has nothing to do with your conversion date. My understanding is MYOB requires some manual procedure to account on a cash basis for invoices that straddle the year end.

       

      Regards

      Gavin

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.