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Assets

We've made it easy to view an asset register in the browser.
Click Assets to access the asset register online. It's where you keep track of your client's fixed assets.

You can use the asset register on its own or integrate it with the compliance workflow. Journals from the asset register post to the financial period, which are then posted to your configured general ledger. You can use assets for clients with an MYOB Ledger, or an Essentials or AccountRight online file.

Each client has one active asset register, but multiple open asset years. This means that when you've added an asset to the register, it appears in all later years until it's disposed of. This is great for future tax planning as you can account for an asset two years in advance.

Using assets in a tax return

To include the assets in the tax return, add or import the assets into the asset register. Then use the tax depreciation worksheet to integrate them into the tax return.

1. Reviewing and import your assets from AE/AO

When you move a tax return from AE/AO that has depreciating assets, start by going to the Assets tab. Check the assets and then import them into the Asset register. Learn how to import assets from AE/AO.

If you need to add a new asset in MYOB Practice

When adding an asset in MYOB PRactice, remember to add an asset class first and then allocate an asset to the class. Learn how to add a new asset in MYOB Practice.

2. Integrating assets into the tax return

Use the tax depreciation worksheet to integrate assets into the different labels. Learn how to use tax depreciation worksheet.