36 Comments
- Joyce_SmithExperienced Cover User
Hi
Would it be possible to have a different year-end function ? maybe one similar to the current 'lock period' function
that can be unticked (with care of course) and/or, ability to view/report on past years' GL transactions?
Especially for use by an accountant , useful when client has inadvertantly rolled the financial year , before the accountant has had time to provide EOY adjusting entries; after preparing the Tax Return,often prepared the following April after YE June.
The ability to only have 2 years of BASLINK available , is also a little restrictive. .. reprinting the reports being a useful tool when preparing a GST rec.
kind regards
- Geoff_Ultimate Partner
Hi Joyce
A great idea.
Nothing more frustrating than having to go back to a backup for the previous year for information.
This is where QuickBooks has an advantage over MYOB. (Wash my mouth out" :smileysurprised: )
- DuncanSUltimate Partner
Joyce,
In a perfect world, a Profit & Loss and Balance Sheet should have comparisons for 5 or even 10 years.
Rollover would be a thing of the past.
There would be a concern if prior year accounts were altered incorrectly.
MYOB and the senior MYOB Consultants may wish to comment as to what the future might hold.
Duncan Smith
Business Adfvice + Tax
- ronatbasUltimate Partner
I was under the impression that rollover went out with the inception of the AR20xx series. Given this there is little likelihood of MYOB fiddling with the earlier versions of the program.
Ron
- Tricia1988Cover User
Please implement the possibility of reporting from past financial years. Eg: profit & loss.
It aids in creating future budgets, looking at past performance and comparing over a period of time.
This is a very relevant reporting facility and is something that I have used with other accounting packages previously.
It is quite frustrating to find that to access past history I have to either restore previous backups or keep hardcopies.
- Nic-acc-addonsSuper Partner
Hi Tricia,
Have a look at BudgetLink. It's an addon to MYOB which should allow you to do exactly what you need. You can download it from here.
http://accountingaddons.com.au/budgetlink/
Once downloaded and installed and on the Get Data Optiosn dialogue, simply click Options, go to years and choose the number of years you want.
I hope this helps.
Nic
- Tricia1988Cover User
Thankyou. I have looked at this but looks like it will take me some time to get my head around.
I have an accounting package, I feel it should perform what I need it to. It is not a difficult concept, analysing performance of past years.....In fact I have used various accounting packages over the years and this is the first time I have come across this!
- John_PFormer Staff
Would it be possible to consider having a way to generate Accounting Reports that stretch across multiple Financial years.
For example - be able to generate a Profit & Loss statement that stretches back from 2008 to 2015?
Cheers,
John
- Jennifer_KellySuper Partner
Hi John_P
You will find some of the Add-on Solution providers can allow you to easily report accross financial years like this, see - http://myob.com.au/addons/
As an example our software Business Intelligence for MYOB can report P&L but also Sales ( by Item, by Customer etc) , Jobs, Purchases etc across as many years as you have data for in your MYOB company file.
See below an example P&L accross 3 years.
(Note however as we build up from the detailed transactions in MYOB we can only produce reports on years where you HAVE NOT PURGED your MYOB data). If you have Purged historical years then you can add into the reporting an old backup file from earlier years, consolidate that with your current file and then report on a combination of the old MYOB file and the current one. Provided you have a clean cut off from the old file to the new one you will be able to produce the above report accross the years.)
All details and a you can Sign Up for a 14 day free trial from our website at www.BIforMYOB.com.
I hope this helps.
Jennifer Kelly CA
02 8011 1511
- Kym__YeowardUltimate Partner
As an accountant dealing with multiple clients, I'm frustrated that I cannot run the GL Detail Report for prior years - particularly when I'm researching an asset, liability or equity account - that is, what its' balance comprises.
It's particularly important at year end, when I'm preparing the annual accounts.
Currently I have to instead run a Find Transactions query and then save the screen as a GIF picture, using the Windows 10 Snipping Tool. An unprofessional solution.
Kym Yeowarrd CPA ACIS
Darwin
- Mike_JamesUltimate Partner
Hi Kym__Yeoward, the Account transactions (Accrual) report can be run for prior years. There's no opening/closing/running balance. I'd like to see a GL summary report that could be run for any prior year, in support of this transaction report.
- DuncanSUltimate Partner
Further to Kym's comment, there was a recent request to MYOB for a 5 year P&L.
As the year is now closed not rolled and I believe the data can be saved for up to seven years then I believe that MYOB should make the reporting and search functions much more useful.
Duncan
When its required by the ATO to retain records for up to 7years I find MYOB AccountRight inefficient to support. MYOB account right reporting only allows 3 year periods. I just went to run all my 2018 reports and I can't because you've got FY20/21 (which hasn't even started) taking up one of the years. The instructions I've found to get previous reports is complex and time consuming and problematic for a novice (locate and restore a backup from before the financial year was rolled). It could be very costly if I have to ask my accountant.
When are you planning to make more years available? You should at least have 4 years where one is taken up for a new year that hasn't started. As an interim solution can you run these and provide them to us?
I wanted to run monthly and yearly P & L statement reports for the past 5 years so I can prepare a summary spreadsheet/report showing the history and trends to help guide the business.
- GregPCover User
The General Ledger Detail report will not run for previous years even if the data for the provious year is not deleted in the year end process.
We use the General Ledger Detail report regularly to identify expense transactions. These can be viewed from the Account card but not easily printed. The account Transactions accrual provides a proxy but does not include the all of the same fields.
It seems that this may be a hangover of the old days when you had to purge transactions from pervious years in the year end process.
- SPereraTrusted Cover User
With reference to Account Right Live, MYOB does not have the capability to produce some current financial year (2018/19) reports without closing the last financial year (2017/18). Let's say, If I need to see my P&L for July 2018, I can't produce this report unless I have closed 2017/18. I don't believe, only giving the option to work on the file but not giving the option to produce vital reports are good enough. MYOB need to fix this limitation.
I have been told the only way to get data from years gone by is to retore each year and get that report. Why can we not put in date perameters say 2012 (when I started using MYOB) and present and get a report to cover the entire time span? Sad I say, just sad. We pay a lot for a program that is limited and restrictive. Me not happy! (:
- prospectCover User
I completely agree. I am trying to run a business with PLANNING and BUDGETING. Being able to look back only one year and budget forward only one year is incredibly limiting. It is a big wrench to move to a new system but with only one year's history at my fingertips and only two years in any one backup it is not such a big move to change to another program that will give me longer term history and budgeting. Actively going to see if I can find something. My old simple cashbook software had way more functionality in this respect
- sandra52Cover User
i have just had a discussion with my accountant and he said that MYOB was looking at cutting back/updating some of the reports. I use the Sales History reporting and find it very handy to compare years. however our company has only been going since 2011 and I can see that while I can compare years 2011 to 2012 I would like to do it as an ongoing exercise in future years but there doesnt currently appear to be an option to get more than current FY and past FY figures. Will MYOB be looking at this aspect of this particular report so that you can select any years that you want to compare on the one spreadsheet without having to cut and paste from previous reports?
- DuncanSUltimate Partner
Tricia,
I believe your idea is very useful.
Business Owners should be looking at the past performance of their business over multiple years (5) not just 2.
The rollover procedures in MYOB have changed and, I believe. there is now a functionality to keep up to seven years of data in a MYOB file.
As a Tax Agent, it would be interesting what the response of Tax Agents and Softeware Providers might be.
Up to MYOB now.
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