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MYOB – Customer Card – Export/import Price Level Missing?

MYOB – Customer Card – export/import Price Level missing?

MYOB – Customer Card – export/import Price Level missing?

Client on MYOB Community Forum emailed - Hi there, I have just started using Accounts Right Standard 2014.4 and imported all data from excel . . . successfully.  The support notes list the Customer Item Price Level field in the Cust file specs but, when I export from MYOB, this field is not in the template file. I am in the process of manually adding to 400 customers but, would like to know why this field is not available.

Answer As mentioned, …the option to export the item price level field is included in the AccountRight Plus files and higher. It is currently not available for export or import in AccountRight Standard company files. I’ve spoken with the support team here, we believe that it should be included in the AccountRight Standard company files. As such have forwarded the fact that the field is missing to the program developers to investigate and correct in a future update.
Currently the workaround would be to import the cards without the item price level field and then manually it after the fact. If you are transferring the cards between file you can run the Reports>>Cards>>Card List Detail report to give you the Price Level for a card.
The reasons why it is probably missed is due to the fact that AccountRight Classic, i.e. version 19, the price matrix structure was available in AccountRight Premier or higher. So AccountRight Standard version 19 never had that option therefore when the program was updated to AccountRight Live it was decided to add in that feature to AccountRight Standard and Plus. It would seem that the field has never been set to be an exportable field for AccountRight Standard however it was for AccountRight Plus.

Kind Regards, Steven (Moderator)

Note There is a great PDF summary of what fields will/won’t export from the different Standard, Plus etc versions – see further down in the Forum on this topic, by Tazinx, to get the pdf!

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Business Tip – Tips to Avoid Burnout

Business Tip – Tips to Avoid Burnout

Tips to Avoid Burnout

Here are some timely reminders from John Corias at Flying Solo that we business people can consider in order to avoid burnout –

Use tools and outsource

One thing that many micro business owners have in common is the realisation that running a business is harder and more involved than first thought. To make life easier, it’s important to use all the available tools at your disposal, as well as outsource wherever you can. Perhaps this means using Xero to automate debtor chasing, pre-scheduling social media posts or using experts so you can focus on your own expertise. Outsourcing also has the added benefit of getting an outsider’s viewpoint on your business. New ideas can be invaluable. If you think you can’t afford to outsource, consider that outsourcing can help to grow your business.

Vacations

Too many business owners are afraid of taking leave in case their businesses fall apart. But that situation is extreme. Getting away from your business, clearing your head and coming back with a fresh perspective can reinvigorate your passion and inspire new ideas. Not only that, spending time with family, aside from the obvious benefits, can also have real tangible health benefits.

Systemise

Creating documented processes for as much of your business as possible gets your business out of your head.

A great tip for the newbie business owner is to start this process from the very outset, even if you think you don’t need it yet. Keep the unnecessary out of your head and in documented procedures. Creating documented processes also makes it easier for you to take holidays, because you know that your process will be followed when you’re away.

Partner/sounding board

For the soloist, burnout can come earlier than for small business owners who have partners and staff to bounce ideas off and share the load. Every solo business owner must have a sounding board, such as a business coach, mentor, accountant and business support group. Tip: It’s preferable to find someone who doesn’t have a financial interest in your business, as this may cloud their judgement in terms of making changes that only affect themselves.

Stick to what you know

Our final point is to not forget the primary reason you started your business. Don’t let yourself be bogged down in the administrative and non-core aspects, it’s a guaranteed path to burnout.

Leave the burnouts to the young guys in loud cars, and focus on working smarter in order to enjoy a healthier business and life.

What tips do you have to avoid burnout? Comment below!

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Business Tax Tips – What Video Tips does the ATO have to help Start-up Businesses

Business Tax Tips – What Video Tips does  the ATO have to help Start-up Businesses

What Video Tips does the ATO have to help Start-up Businesses

Want to see what tips the ATO (Australian Tax Office) have to support you with the running (and start-up) of your business? There are some short videos that cover the following, and have links to transcripts as well -

Here is what is available with some explanation -

From ATO site - https://www.ato.gov.au/Business/Starting-and-running-your-small-business/In-detail/Videos-and-webinars/Small-business-tips—videos/  

Do business with us online

This video discusses our online products and systems to help reduce red tape and simplify administrative and regulatory burdens faced by businesses. Duration 03:18. A transcript of Do business with us online is also available.

How we are assisting small business

This video presents a variety of online support services, available at any time from a range of devices. Duration 05:03. A transcript of How we are assisting small business is also available.

Start-ups and the ATO

This video explains how we are helping small businesses to interact and transact in an easy and convenient way. Duration 03:01. A transcript of Start-ups and the ATO is also available.

Employee or contractor – How to get it right

This video explains factors you need to consider to work out whether a worker is an employee or a contractor. Duration 02:55. A transcript of Employee or contractor – How to get it right is also available.

Home-based business

This video discusses how you know if you’re running a home-based business, and the deductions you can claim. Duration 03:17. A transcript of Home-based business is also available.

These short videos introduce small business to a range of online resources and some helpful tips on misunderstood topics, to help get your business off to the right start.

(ATO site currently says – Last modified: 16 Jan 2015QC 43638)

Need help? Not sure? Call for FREE 30min advice / strategy session today! 0407 361 596 Aust

***BEFORE you BUY - Ask us for a competitive software price BELOW retail – no obligation!

You also get FREE 30 min to assist in setting up your company in the software, and FREE ongoing email or phone support – No-one offers as much! Call and you also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

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Bookkeeping – Having datafiles in Dropbox – Will it work?

Bookkeeping – Having datafiles in Dropbox – Will it work?

Bookkeeping – Having datafiles in Dropbox – Will it work?

 

Storing accounting datafiles in Dropbox sounds like the perfect “online” or “live” solution, but there are problems at times. Despite advice that is positive via Dropbox (https://www.dropboxforum.com/hc/communities/public/questions/202157455-Quickbooks-Pro-2013-Can-I-work-on-files-off-of-Dropbox-) some of our clients have tried having their MYOB file in Dropbox, but wonder why it has issues. Please note the following –

  • Dropbox is not recommended by the Reckon or MYOB support recommendations
  • The continue uploading to cloud interferes with normal functioning:
    • Slows the datafile;
    • Can corrupt transactions while saving/uploading;
    • Can result in error messages referring to conflicts in the saving process.

The recommendation is DO NOT try it! It can be more trouble than it is worth!

Need help? Not sure? Call for FREE 30min advice / Strategy session today!

Call 0407 361 596 Aust and also get Free “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

Email info@accountkeepingplus.com.au or call 0407 361 596 Australia


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Cashflow Tips – The Importance and Productive Boost of Team-Building

Cashflow Tips – The Importance and Productive Boost of Team-Building

Cashflow Tips – The Importance and Productive Boost of Team-Building

A team is an important, dynamic unit working together to achieve success in accomplishing a goal. What determines how effectively a team will work together? Lots of things. To create an autonomous, hard-working, high-producing group of individuals is challenging, and there are many factors that will influence your team’s success. Here are 6 considerations to help you get started.

1-   Begin With the Right People

Know what you are looking for. When recruiting to your team, look for candidates who match your organizational culture. If you’re adding to an existing team, you might consider getting team members to help with the selection of a new recruit. While group cohesiveness has an effect on group performance, any group that works productively will suffer less turnover because they have enjoyed success. Look for people who will help to balance your team professionally.

2-   Be SMART About Goal-Setting

Without goals, teams are aimless. Prepare your team for success with a clear objective, and be sure to attach a value to the goal. Without seeing the value in the work they are doing, a team will lack the motivation to succeed. In goal-setting make your goal SMART:

·                     Specific: Your goal must be well-defined so that the team’s direction is clear. Ask: Where do we want to end up? What steps will we need to take to get here?

·                     Measurable: In order to measure their degree of success, a team needs precise objectives (amounts and dates). Be specific. If you describe your goal in general terms, such as “Increase sales” without indicating by how much or by when, it’s unlikely you’ll get the results you want.

·                     Attainable: Be realistic. Aim too high (set a goal that your team has no hope of achieving) and you will only demoralize your team and eat away at their confidence. Make sure to state how and why you think a goal is attainable.

·                     Relevant: Goals should be aligned with your vision of success, and relevant to the direction you want your team to take.

·                     Time-Bound: Success will come that much quicker if you have a deadline.

Arrange to have your team revisit their goals regularly. The pursuit of achievement is ongoing, and reminders will help to keep things on track. Encourage open discussion about the team’s progress.

3-   Define Roles Clearly

Without goals, it’s impossible to establish meaningful, valuable roles for team members; in their absence, team member accountability becomes an issue, as do overlap and time-wasting. Clearly defined roles make it easier for each team member to set their own goals for accomplishing work effectively and for making a strong contribution to the larger goal. It is important that each team member accept the role and responsibilities of their own role, and those of their counterparts. You might consider explaining why each team member has been selected, so that their value to the team is clearly established. Clear roles help to:

·            Identify knowledge, skill and capability needed (helps you hire the right people)

·            Determine what resources and strategies are required for success and determines who will be sharing these (helps you get the proper tools to the right people)

·            Eliminate confusion, establish boundaries, and reduce overlap (so a member can focus time and energy on learning/ performing a specific task)

·            Identify any weakness that threatens efficiency and any need for training, support or reassignment

Perhaps the most important role on a team is the team leader. A quality leader who will value the ideas and opinions of its members and hold team members accountable will influence engagement (and efficiency).

4-   Build an Atmosphere of Cooperation

Efficient teams co-operate. In this environment, team goals are of utmost importance and team members support each other in working toward these goals. A member will be measured by their contribution to achievement. Have processes and protocols in place to promote co-operation. Consider the following:

·            Team charter: A charter defines how work will be done. It is created by the team, for the team. All members should be expected to contribute. The team charter addresses how work will be done. It deals with topics such as:

o   Purpose (A team that understands how a job will align with your organization’s key objectives and strategies is more likely to produce exceptional work. Reinforce corporate values, and business objectives.)

o   Duration and Time Commitment (Ask: How long will this take? What time is required?)

o   Scope (How big is too big?)

o   Stages of development (deliverables)

·            Communication: This is the most important factor in successful teamwork. The most effective teams exist where members are able to share information and expertise openly with their team, and with their organization as well. Personal expression must not be undervalued. (Points are listed to consider…)

·            Conflict resolution: Conflict is part of learning to work well together. It is powerful, and can contribute to a team’s success or be its undoing. Deal with conflict quickly. Where a team is relatively uniform in experience, problems may be resolved more quickly than where a team’s members differ widely in experience and approach to problem-solving. If team members cannot resolve an issue, they should have prompt guidance. Encourage openness, and have a method of feedback so that concerns can be brought to your attention. Be responsive.

·            Team-building: Enable your team to perform their job well. The degree to which you need to invest in team building depends on the size of the team, and member turnover. The dynamics of a team will change with the coming and going of members, and in either circumstance, you want your team to adjust, and continue to be productive. Help them build strong team systems and processes so that work goes on uninterrupted.

5-   Define Expectations

Performance expectations are, basically, the ‘Rules of Engagement’ for team work. They govern professional issues. Be clear about what contributions are expected from individual team members, and consider presenting these expectations to each prospective member during their interview to help assure that you will be working on the same page. These expectations should be laid out in your organizational policies and procedures.

Team expectations should be concrete and directly related to the achievement of team goals. They define how a team will work to achieve their goals.

Expect team members to:

·       Contribute (do their work)

·       Communicate with each other

·       Cooperate (support each other)…

It is very important to the success of your team that you enforce expectations. Make sure that you treat everyone fairly (without favoritism), and that you welcome and accept observations from team members about performance issues. Poor performance must be effectively addressed for team members to feel supported, and so to manage potential conflict. Team members must be held accountable for achieving goals and meeting expectations for the team to be effective.

6-   Recognize Good Works

Effective team members perceive their service to the team as being valuable to their organization, and to their own careers as well. Reward the results of their efforts. To attract and retain motivated and effective workers, your organization must invest in a culture that promotes improvement, and has a means for capturing individual contributions. Recognize and reward individual successes and team successes as well. Learn what keeps your team members motivated. You might consider the following:

·       Profit-Sharing (Share the wealth!)

·       Skills development (training, conferences, webinars)

·       Opportunity (promotion)…

Never let good performance go without recognition, and follow-up. If you or your team sees good performance from an individual contributor, they should be sure the individual is both recognized and rewarded.

Effective teams benefit from front-end investment. Spend time structuring a work environment to foster success, and you will be more likely to see your team flourish. Recognize that you are part of the team (even if you are apart). Invest in your relationship with team members, and seek to build trust and loyalty by being accessible, supportive, and responsive. Reward good performance and deter poor performance. Review processes and procedures regularly. Take comments and criticisms, and allow yourself, and your team to grow towards success.

Condensed from http://www.corporatechallenge.com.au/blog/how-build-effective-workplace-team

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MYOB – How does tax calculate when pays are split?

MYOB – How does tax calculate when pays are split?

MYOB – How does tax calculate when pays are split?

Client emailed - Since staff only worked some days on the holiday break period, our fortnightly pays were split into two payments, but wonder how does the tax calculate. To do the pays, I paid 40% of a normal fortnight pay plus entitlements, as there were only 4 days worked for that fortnight, and paid that on the last work day. Then on our return, when the next pay was due, I paid the 60% balance plus entitlements, as most employees worked only 6 days of that fortnight. I used the ‘Pay Leave in Advance’ function in payroll, ie Fortnights of standard pay: ( 0.04 or 0.60). How does the system calculate the tax component when pays are split, as it looks like the tax deducted from the second payroll is too high?

Answer It depends on the settings. MYOB takes the gross figure and takes that as the figure earned for the period, then works out the tax accordingly. Then in each pay it applies the ATO formula which subtracts the tax free threshold then calculates the PAYG payable on the remainder. This could mean that some of your lower paid staff may not have had tax deducted on their first pay. It is best to check – set up an excel to look at gross pay and gross PAYG for the period and compare it to Fortnightly Tax Witholding table from here – https://www.ato.gov.au/uploadedFiles/Content/MEI/d​ownloads/BUS39409n10060514.pdf. Any significant adjustments can be made in future pays.  

Payroll will tax the individual pay that you are entering. For example if the gross of that pay was $500, it would tax the employee for a gross of $500 according to the tax table the employee is on and the pay frequency. 
If you use Pay leave in advance it will allow you to process two pay frequencies at once and count it as separate weeks for tax. For example if you get paid $500 gross each week and your tax amount is $100 per week. If you used the Pay leave in advance and paid it for 1 standard week and 1 week leave in advance and you are actually getting the same amount of gross as a normal week i.e. 500. Your gross would be $1000 but the tax would be $200 instead of $350 (which it may have been if you paid $1000 in a normal week). This is due to the fact that the tax amount is $100 for $500 gross and you are getting $1000 so 2 x normal gross therefore $200 or 2 x normal tax.

Be also mindful of entitlements - for those set to Hourly there should be no problems, but for salary people you would have needed to alter the accrual for each of the pays.

Get a FREE 30 min answer to your query, and FREE ongoing email or phone support – No-one offers as much! Call and you also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

Email info@accountkeepingplus.com.au or call 0407 361 596 Australia


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Business Tax Tips – Home Office Expenses the ATO allows you to claim

Business Tax Tips – Home Office Expenses the ATO allows you to claim

Home Office Expenses the ATO allows you to claim

Wanting to know what home office expenses the ATO allows you to claim for your small business? There is great information on the ATO website, and links for more info and a cool expense calculator, as part-reproduced here –

If you operate your business in full or in part from home, you may be able to claim a deduction for:

  • Occupancy expenses, such as rent, mortgage interest, rates, land taxes and house insurance premiums;
  • Running expenses, such as phone rental and business calls, internet fees, depreciation of office furniture and equipment and any additional heating, cooling, lighting and cleaning expenses.

Before claiming expenses relating to your home work area, we recommend you read Home-based business.

Claiming running expenses and occupancy expenses depends on whether or not your home is your place of business and if you have an area set aside exclusively for business activities.

If your home is your place of business and you have an area set aside exclusively for business activities, you may be able to claim both running and occupancy expenses.

If you carry on your business elsewhere and also do some work at home, you cannot claim occupancy expenses even if you have a home work area set aside.

Our online calculator will help you determine if you’re entitled to occupancy expenses and then calculate your allowable deduction.

Work it out Home office expenses calculator

You can keep a diary to work out how much of your running expenses relate to working at home. All you have to do to support your claims is keep a diary for a representative period of about four weeks each income year.

Alternatively, for home work area expenses, such as heating, cooling, lighting and depreciation of furniture, you can claim a fixed rate, instead of keeping details of actual expenses.

The following table shows the deductions you can claim for the three ways you can work at home.

Business Tax Tips – Home Office Expenses the ATO allows you to claim

There is also a video to explain the deductions.

And the ATO page also alerts you to Personal Services Income that may not allow occupancy expenses, and that Capital Gains Tax may apply – read more HERE.

Need help? Not sure? Call for FREE 30min advice / strategy session today! 0407 361 596 Aust.

***BEFORE you BUY – Ask us for a competitive software price BELOW retail – No obligation!

You also get FREE 30 min to assist in setting up your company in the software, and FREE ongoing email or phone support – no-one offers as much! Call and you also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

Email info@accountkeepingplus.com.au or call 0407 361 596 Australia

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