2007 Release Notes - FAQs

2007 Compliance Release - FAQs

• What is a compliance update?

The compliance update delivers the latest in Australian payroll and tax legislation requirements to your MYOB business management software.

• Is it mandatory to install the compliance release?

MYOB always recommends you load the latest version of the software to ensure you are working on the latest compliant version. This means you will also derive the benefits of the new features to help your business run more efficiently.

• How do I get the June compliance update?

The compliance update is available for Premier v10, Accounting Plus v16, AccountEdge v6, Premier Enterprise v4. A customer will receive the compliance update if they have:

• a current MYOB Cover subscription when the compliance update is released
• purchased a full program from the ‘buyer protection’ date.
• purchased an upgrade from the ‘buyer protection’ date.

• What does ‘buyer protection’ mean?

‘Buyer protection’ allows a customer who has bought MYOB software that is superseded by a new feature release or compliance release after a set date to receive that latest version of MYOB software free of charge.

• When will the compliance update be delivered?

We are confident that the compliance update CDs will be received before July 1.

• Will the compliance update be available to download?

Traditionally the compliance update has been a CD. In addition to this, MYOB has also made the compliance update available for download. Visit the 2007/08 compliance update page for details .

• Can I purchase the tax tables separately?

No, the changes to tax tables are not just about a change to existing scales, or necessarily related to tax tables. Often the changes require:

• additional tables
• additional levels to the tables
• changes in rounding rules
• changes to Payment Summary Forms (formerly Group Certificates)
• other changes (e.g. STS)

The full compliance update ensures your MYOB software is fully compliant with Australian payroll tax legislation.

Only MYOB Cover customers and customers who have purchased an upgrade or are covered under ‘buyer protection’ will receive the compliance update.

• Can I manually update the tax tables?

We do not recommend changing the tax tables manually due to the risk of making a basic mistake that could have long term consequences to your payroll. Manually updating the tax tables can also be extremely time consuming. Please be aware of the risks involved in doing this as any incorrect value will affect your employees’ net pay.

• How can we justify paying for a payroll update - our business can't afford that?

Upgrades are available separately; however the easiest way to stay up to date with all of the legislative changes is to subscribe to MYOB Cover. MYOB Cover is also available on a monthly payment plan to make payment easier and there are no additional fees to pay by the month.

MYOB Cover includes the latest upgrades of the software and any compliance updates including the tax tables released during your subscription. It also allows unlimited extended hours priority access to MYOB Technical Support, a free end-of-financial-year guide and payroll transition guide, free access to the use of M-Powered Services and a host of other services to help you manage your business more efficiently.

• When do I need to install the June compliance update?

Full instructions will be available with the June compliance update. Generally you need to update the tax tables after your last pay run for this payroll year and before your new pay run in the new payroll year.

• How can I make sure that I will be on MYOB Cover at the time of the release of the compliance and feature updates?

The best way to ensure you are on MYOB Cover at the time of the compliance and feature releases is to renew your subscription early, or adopt the pay-by-the-month method so you don't have to manually renew MYOB Cover each year.

• Why aren’t all compliance releases sent together?

The timing of compliance releases is largely dictated by when the Australian Government passes the legislation relating to this compliance. MYOB then also requires some time for product development to enter these changes into the software.