MYOB demonstrate again why I have switched to Xero. To cope with the GST change you either need to upgrade, or follow the instructions on their website.
The instruction pages all start with the boilerplate text:
“The quickest and easiest way to handle the 1 October GST and tax changes is to update your software.”
This is true. Upgrading is the easiest answer – but it does, of course, come at a price. This sort of forced upgrading is how MYOB makes recurring revenue, and it should be added to the service plans and compared with subscription models.
But you can avoid the upgrade by following a obnoxiously complicated process, but be aware that even when you are done the GST Return functionality will no longer work – you need to go manual:
Completing a Standard GST Return post October 1If you choose not to upgrade your software, the GST Return included in your current BusinessBasics software will not calculate correctly for periods on or after October 2010. Do not use the old GST Return report (101) for any Returns at the new GST rate. Instead you can use the appropriate GST Detail and Summary reports to derive the correct values to allow you to complete the GST Return manually.
So here it is below – how to change GST in MYOB for Business Basics – which is the cheapest package and is “Accounting software that helps with the basics like invoicing, expenses and GST. Great for a small business.“
Try not to laugh, or cry, and sincerely – if you are using MYOB then now is a really good time to shift to something like Xero. I did a few months ago and the difference is light and day.