New Release: MYOB Accounting v27.2, Premier v22.2 and Premier Plus v22.2
In this release ABSS products have been updated with new feature - Financial Analysis report, while Premier Plus has additional Compliance updates on IR56 forms for payroll.
We have added a new report named Financial Analysis.
For a start, it has some basic financial ratio analysis to help company stakeholders understand how well the business is performing and potential areas that need improvement.
1. Index to Reports - Accounts
This report can be found at Index to Reports > Accounts > Balance Sheet: Financial Analysis
The sample report will look like this:
There are three types of analysis provided in this report:
a) Liquidity Ratios
A liquidity ratio that measures a company's ability to pay off its current liabilities with only cash and cash equivalents.
A liquidity and efficiency ratio that measures a company's ability to pay off its short-term liabilities with its current assets.
A performance ratio shows the proportion of finance that is provided by debt relative to the finance provided by equity.
b) Performance Ratios
A performance ratio that measure the company's ability to meet its interest payments.
Return On Capital Employed % (ROCE)
A profitability ratio that measure the returns that a company is achieving from the capital employed.
c) Profitability Ratios
Return On Sales %
A profitability ratio that calculates how efficiently a company is at generating profits from its revenue.
Gross Profit Margin %
A profitability ratio that measure how efficiently a company uses its cost of goods sold to produce and sell products profitably.
2. Edit Account Details
To use this report, first user needs to linked the relevant accounts to the respective categories used in ratio analysis. This can be done via setup the Financial Analysis acc. group mapping in Edit Accounts for Detail Account only.
User can select financial analysis account group from the dropdown list, then click OK to save it.
To understand which category mapping requires, user may refer to formula stated in report, and mapped accordingly to get desires result.
Note: Capital Employed and EBITA are defined as:
Capital Employed = Long Term Liabilities + Shareholders Equity + Retained Earning + Current Earning
EBITA = Net Profit + Interest Expenses + Tax Expenses
3. Account List Details
You can also check your mapping by printing Account List Details report.
4. Import/Export Account Information
Import and Export Account functions has been updated with the new field Financial Analysis Account Group.
[ABSS Premier Plus only] IR56 Forms Update
IR56B, IR56E, IR56F & IR56G forms, has been updated to latest format of Inland Revenue Department. Example of IR56B form as below:
IR56B XML file has been updated with:
Special characters in text field such as & <> ' "" has been encoded to the required format.
Note: "AreaCodeResAddr" field reflects Residence Area that user selected in Employee details information. The default value is Hong Kong. User need to ensure correct value selected.
Print Receipt advanced filters - updated "Do Not Re-Number Receipts" default option to ticked when user login into the system.
General Ledger Report send to Excel: when huge volume of data send to MS Excel, the maximum lines that able display now set to 65000 lines, which is close to MS Excel import limitation.
Free Trial and Sample Data File -
Transaction Limit - All non-activated trial data and sample data file (clearwtr.myo) now carries a limited of maximum 800 transaction lines for trial purposes. Once exceeded limit, that trial data file will automatically become READ ONLY.
Free Trial Period - trial period of non-activated data file now set to 7 days only, after which data file will become READ ONLY. To continue using that data, user have to activate it.