Accountant Enterprise Reporter NZ...

Accountant Enterprise Reporter NZ Masters

Version 3.3.315

Release Notes

Release Notes | 2 Accountant Enterprise Reporter NZ Masters | 3.3.315

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Accountant Enterprise Reporter NZ Masters 3.3.315 Release Notes Printed: 1 September 2008

Contents

Accountant Enterprise Reporter NZ Masters | 3.3.315 Release Notes | 3

Contents Overview 4

Important ...................................................................................................................................... 4

Installation 5

Install NZ Masters .......................................................................................................................... 5

Check installation was successful ................................................................................................... 5

New Features 6

New Waikato Business Benchmarking Survey report .................................................. 6

Waikato Business Benchmarking Survey Chart Map ....................................................................... 6

Waikato Business Benchmarking Survey Database Map .................................................................. 6

Waikato Business Benchmarking Survey Report .............................................................................. 9

How to produce the Waikato Business Benchmarking Survey file ................................................... 9

How to upload the export file to the Waikato Business Benchmarking program ........................... 10

FRS/NZ IFRS format changes ................................................................................... 13

Appendix 1 .............................................................................................................. 17

Overview This release addresses issues encountered with FRS/NZ IFRS and management report formats to ensure compliance with NZ accounting standards. It also provides a new Waikato Business Benchmarking Survey format.

The Master versions have been changed to 3.3.315.

Installing this release will install new versions of the new and updated report formats introduced in this release. To update your practice and client masters, you can either copy from these new master versions, or manually update your own practice and client versions using the information provided about each report format change included below.

Important The updated formats which have been included in this release of the Masters have been created in the 2005 year and rolled through to 2010. It is important that you are aware of the implications of this.

Updated formats brought down to Practice level in the 2005 year, can be rolled into 2006 and future years as normal. If FRS formats earlier than 2005 are modified then you cannot roll forward from 2004 to 2005 as this would result in the IFRS practice level changes that you made in the 2005 year being deleted.

There are two ways you can approach this situation

1. Ensure all practice level changes are now done in the 2005 year or higher but not prior to 2005.

or

2. If you want to do practice changes prior to the 2005 year, then you can roll up to the 2004 year and then you must repeat the changes in the 2005 year (this can be achieved by copying the format in 2004 and pasting it into the 2005 year), then roll from 2005 to 2006 then 2007 etc.

If you would like further clarification on this, please contact the MYOB support team on 0800 94 96 98 or email [email protected].


mailto:[email protected]

Reporter NZ Masters

Installation Follow these steps to install the new Reporter NZ masters.

Install NZ Masters 1. Before installing NZ Masters, a prerequisite is that all PC’s have reporter 3.3 installed.

2. Browse for ReporterNZMasters315.exe in the folder to which the installation file has been saved, e.g. hard drive or CD, then double-click the file.

3. Select Next to continue.

4. Review the license agreement and click Yes to accept and continue with the installation.

5. Ensure that MAS 5.3a or above is on your system; if this is true, click Yes to continue.

6. Default folders are chosen for the install, if these need to be changed, click the Browse button to select new installation folders.

7. The installation parameters have been defined and the installer is ready to continue, click Install to install NZ Masters to the defined destination.

Check installation was successful The current release installed is shown in the About box. Go to the Help menu and choose About MYOB AE Reporter from within Reporter. The release displayed should be version 3.3, Masters 3.3.315.

If the About box is not showing these version and master numbers, we recommend you try re-installing the release. If that is not successful, contact MYOB.


New Features The key features in this release are:

• A new Waikato Business Benchmarking Survey report

• A range of updates for FRS/NZ IFRS and management report formats

New Waikato Business Benchmarking Survey report The NZ Business Benchmarking Survey has been conducted by the University of Waikato for over 25 years. The survey provides financial ratios covering income, profitability, overhead structure, ratios per person, liquidity and capital structure for a range of NZ businesses. The survey is based on data provided by NZ accountants; participating accountants receive the survey free of charge. For more information about this service, visit the website mentioned below.

You can register for this service online. Visit the Waikato Management School website at http://wms-soros.mngt.ac.nz. Click on the Departments menu and choose Management Research Centre, and then click on NZ Business Benchmarking on the left.

The new Waikato Business Benchmarking Survey report in this release provides an easier method for submitting the data to the University of Waikato.

Currently, chartered accountants registered for the 2007 survey are receiving a copy of the survey. The survey is also available for purchase. The cut-off date for the next survey publication is March 09.

The new Chart Map, Database Map, Formats and Reports are previewed below, and instructions on how to generate the report and submit it are also included.

Waikato Business Benchmarking Survey Chart Map A new chart map called Waikato Benchmarking has been added. For a complete list of the accounts and shortcuts used in the Waikato Business Benchmarking Survey chart, see Appendix 1 on page 17.

Waikato Business Benchmarking Survey Database Map A new Database Map has been added for Waikato Business Benchmarking Survey. You can find it under OtherReports in the Database Map Explorer pane.


http://wms-soros.mngt.ac.nz/

Reporter NZ Masters


The Waikato Business Benchmarking Survey table has the following fields:

Field Type Description

DataType List Data Type 1=Draft/Projection/Budget Data, 2=Final/Actual Data

MRCReference Text The MRC (Management Research Centre) reference is a user defined unique number between 1 and 999999 that the MRC will then use to refer to this client in our database and any reports sent to you. The MRC reference must be different for each of your clients.

GeographicalLocation

List The city/town where the business is located. Choose one only (for multiple offices select head office location). 1=Auckland, 2=Ham, Wgtn, Chch, Dun. 3=Other cities, 4=Towns and Rural


Field Type Description

RegionalLocation List The region within New Zealand where the business is located. Choose one only (for multiple offices select head office location). 1 Auckland, 2 Canterbury, 3 Eastern BOP, 4 Hawkes Bay, 5 Kapiti/Horowhenua, 6 King Country, 7 Manawatu, 8 Marlborough, 9 Nelson/Tasman, 10 Northland, 11 Otago, 12 Rotorua, , 13 South Waikato, 14 Southland, 15 Tairawhiti/Gisborne, 16 Taranaki, 17 Tararua, 18 Taupo, 19 Thames, 20 Waikato, 21 Wairarapa, 22 Wanganui, 23 Wellington, 24 West Coast, 25 Western BOP.

Franchise List Select franchise if the business is part of a National or International Franchise. 1=Franchise, 2=Non-Franchise

Premises List Ownership of the land and/or buildings (or part of a building) that the business is operating within. Use home office for businesses operated from home. If multiple, select most predominant. Premises ownership. 1=Owned (commercial) 2=Rented (commercial), 3=Home Office, 4=N/A

PremisesLocation List Specify whether the business is located in a mall or shopping centre. Mainly applicable to retail stores. Premises Location, 1=Arcade or shopping centre, 2=Not Arcade or shopping centre, 3=N/A

OperationalYears List Years of Operation, 1=1-3 years, 2=4-10 years, 3=Over 10 years

WorkingOwners Decimal

Enter the number of WORKING owners as a Full Time Equivalent to 2 decimal places. E.g. if an owner works 10 hours per week for a full year, include them as 0.25, or if the owner works full time for half a year include as 0.50. If the owner works 60 hours per week, still include as 1.00 FTE. Do not include non-working owners. CHECK YOUR FIGURES.

NonWorkingOwners

Decimal

NUMBER OF STAFF (exclude working owners) - Enter the number of EMPLOYED STAFF as Full Time Equivalents to 2 decimal places. E.g. if a staff member works 10 hours per week for a full year, include them as 0.25, or if the staff member works full time for half a year include as 0.50. If a staff member works 60 hours per week, still include as 1.00 FTE. Do not include working owners in employed staff. CHECK YOUR FIGURES. Note: If you have entered a value for staff numbers, then you must complete Total Wages.

Reporter NZ Masters

Waikato Business Benchmarking Survey Report Two new reports have been added for the Waikato Business Benchmarking Survey.

The first report produces a friendly version of the date that will be uploaded to Waikato University, and can be kept on file. The second report is the version that must be used for exporting.

How to produce the Waikato Business Benchmarking Survey file The Waikato Business Benchmarking Survey export procedure produces the export file for a single ledger that can then be uploaded to the Waikato Business Benchmarking Survey program.

1. Review and Modify Chart Map, if required, to conform to practice setup.

2. Update the Database map fields.

3. Preview the Waikato NZ Business Benchmarking Survey report and verify figures.

4. Export the Waikato NZ Business Benchmarking Survey – Export report, noting down the path and file name.


5. Open the report in Microsoft Excel using previously noted path and filename.

6. Go to the File menu and choose Save As.

7. Give the file a meaningful filename and note down the path and filename. In the Save As Type field, from the drop-down list, select CSV (Comma delimited) (*.csv).

8. Click OK. The csv file is created.

In Excel, you may receive messages about the csv file containing unsupported features. Click Yes to continue to save this file.

This is the file that will be imported into the Waikato Business Benchmarking Survey program.

How to upload the export file to the Waikato Business Benchmarking program Once you have registered for the Waikato Business Benchmarking service, you will be advised of how to download and install the Waikato Business Benchmarking program. You will also receive a Firm Code and password to log in to the program.

1. Launch the Waikato Business Benchmarking program and enter your Firm Code and Password, the window, illustrated below, will open.


Reporter NZ Masters

2. In the Import Client Data section, click the Import button, navigate to the location of the CSV file you created, detailed in the previous paragraph. Click Open and the data will be imported.

3. The Business Division & Type fields are not part of the export; select the appropriate business division (i.e. category) and type (i.e. sub-category).


4. Review the data in the four tabs if required. You can preview the summary data by clicking the Preview Data button in the fourth tab, which you can also choose to print out.

5. Click the Update button in the fourth tab or in the menu bar at the top of the window. The data is uploaded to the Benchmarking service.

Note: If the upload was not successful, any errors are displayed in the Errors pane on the right side of the window.


Reporter NZ Masters


FRS/NZ IFRS format changes The following changes to FRS/NZ IFRS and management reports have been made:

Format change Description

Employee Entitlements not included in Financial Position Current Liabilities total

In Non-transaction data>OtherReports>Financial Position, Employee Entitlements was not being included in the Current Liabilities total. This has now been corrected. To manually correct this, in the Financial Position - Total Equity & Liabilities format, click on cell C2, and add ' + CM.CurrentLiabilities.EmployeeEntitlements +' to the list being summed for this total. The following is an example from the Cell1 list: '...CM.CurrentLiabilities.TermLoanCurrentPortion + CM.CurrentLiabilities.EmployeeEntitlements+CM.Equity.Company...'

Page Break error in Entity Detail>Settings now corrected

When running job streams, an error was occurring in Non-transaction data>Entity Details>Settings, when the SplitFinPos fieldname was set to Yes, i.e. when inserting a page break. This has now been addressed.

Change in print condition for any summary lines in Financial Position and Performance formats

The print condition that checks if the row total, summary lines in the Financial Position and Financial Performance report formats, were previously incorrect. The print condition should be: =OR(C21<>0) where C21 is the TY cell on the same row. This applies to the following formats: Financial Position>Current Assets, row 21; Financial Position>Current Liabilities, row 23; Financial Position>Non-current liabilities, row 16.

Zero incorrectly printing in shading column when printing accounting policies

When accounting policies were printed, a zero ('0') was being incorrectly printed in the shading column. This has now been addressed in Accounting Policies, Financial Performance, Financial Position and Financial Statements reports.

Format Business Directory – Trustees: Charitable Trusts has been added to print condition row 2.

In the Business Directory – Trustees report format, Charitable Trusts has been added to the print condition on row 2. The corrected print condition should be: =OR(DB.EntityDetails.ClientDetails.EntityType="Trust/Estate",DB.EntityDetails.ClientDetails.EntityType="Charitable Trust") To manually correct this, locate the Business Directory - Trustees format, highlight Print row 2 and make the above change to the print condition.



In Notes – Taxation (Diff), distributions to beneficiaries now not included in Net Surplus/ Deficit, but a separate line

In the Notes - Taxation (Diff) report format, previously the Net Surplus/Deficit included distributions to beneficiaries. The Net Surplus/Deficit including Beneficiary Detail has now been removed. The Net Surplus/Deficit now is the same figure as the Financial Performance, and a separate line has been added underneath: 'Less: Distributions made to beneficiaries'.

Format heading changes The following format headings have been changed: 1. DB.EntityDetails.ClientDetails.ColumnHeader to

'=Year', and the cell formatted to date 'YYYY', and 2. DB.EntityDetails.ClientDetails.ColumnHeaderLY to

'=Year', and the cell formatted to date 'YYYY', and the Balance tab set to Previous

for the following report formats: 1. Notes - Fixed Assets with Depreciation 2. Notes - Fixed Assets without Revaluation 3. Notes IFRS - Property, Plant & Equip + Impairment -

Differential Report 4. Notes IFRS - Property, Plant & Equip No

Impairment - Differential Report 5. Farming - Livestock ## Reconciliation - #01 - #07.

For the Livestock report formats, cells B3 - C3, and B4 - C4, have also been merged.

6. Page Header - Columns - Livestock Working Accounts Qty, the cells This Yr and Last Yr have also been set to '=Year'.

To manually change these headings, located the relevant report format, and make the changes detailed above.

Incorrect values being printed in Financial Position – Net Current Assets format

Previously, in the Financial Position - Net Current Assets format, incorrect values were printing. This has been corrected by changing the formula of Cell C1 to: '=CM.CurrentAssets + CM.CurrentLiabilities' removing '-CM.CurrentLiabilities.ShareholderAdvances'.

Formulas have been modified for the following column templates:

Formulas have been modified in the following column templates for the variance or percent column:

• Ptd:PtdBud:Var

• Ptd:PtdBud:Var:Ytd:YtdBud:Var

• Ptd:Percent:Ytd:Percent

• Ytd:Percent:YtdLastYear:Percent

Notes IFRS – Investments – Trust format, number of shares cell was incorrectly printing actuals

In the Notes IFRS - Investments - Trust format, the cell for the number of shares was incorrectly printing actuals, instead of Bal2. This has been addressed.

Reporter NZ Masters



All reports with the Rental Statement group have the condition incorrect on the Rental Statement summary format.

All reports with the Rental Statement group had an incorrect condition on the Rental Statement summary format. This has been addressed.

Account codes removed from CM.CurrentLiabilities. Other chart map

Account codes 810 and 811 have now been removed from the CM.CurrentLiabilities.Other chart map.

Incorrect condition on all reports using formats Accounting Policies – Changes or Accounting Policies – Changes (Ceased)

An incorrect condition was appearing in all reports that used the formats:

- Accounting Policies>Changes - Accounting Policies>Changes (ceased) reports

The incorrect condition was: =LEN(DB.Policies.Contents.TextOfPolicies.CeaseDate=0)

Corrected condition is: =LEN(DB.Policies.Contents.TextOfPolicies.CeaseDate)=0

To manually correct this in an affected report, locate the affected report, locate the Notes or Notes IFRS group>Accounting Policies, right-click the Changes format and choose Properties>Condition Required, and make the above condition change.

Incorrect condition in Formats>Notes>Taxation(Diff) format

An incorrect condition was present in cell 13 of the Formats>Notes>Taxation (Diff) format.

The incorrect condition was: =C4 – SUM(C7:C9+C12)

The corrected condition is: =C4 – SUM(C7:C9-C12)

i.e. C9 minus C12.

To manually correct this, highlight cell 13 of the Formats>Notes>Taxation (Diff) format and make this change.

Incorrect print condition in Notes – Term Liabilities format

An incorrect condition was present in Print 19 row of the Formats>Notes>Term Liabilities format.

The corrected condition is: =AND(COUNTROWS(4:9)>1,COUNTROWS(14:17)>1)

To manually correct this, highlight the Print 19 row of the Formats>Notes>Taxation (Diff) format and make this change.



Terminology change of 'Profit' to 'Surplus', and 'Loss' to 'Deficit' in all report formats

The terms 'Profit' and 'Loss' have been updated to 'Surplus' and 'Deficit' in the following reports: 1. Farming - Farm Working Account 2. Notes - Taxation 3. Notes IFRS - Cashflow Reconciliation from

Operating Activities 4. Notes IFRS - Discontinued Activities 5. Notes IFRS - Earnings Per Share 6. Notes IFRS - Taxation

To manually correct this, navigate to the above formats and make the terminology change as described.

Changes to all Statements of Movement in Equity, and Statement of Movement in General Funds

The following changes have been made to all Statement of Movement in Equity, and the Statement of Movement in General Funds:

• The first line has been changed to Net Surplus

• A subtotal has been added below Net surplus for ‘Total recognised revenue and expenses’

• For company Statements of Movement in Equity, Prior Period Adjustments are printed above dividends now, rather than being in their own section.

• Prior Period Adjustment codes have been moved in the Chart map from EM.Equity.Appropriation.PriorPeriodAdjust to CM.ExpenseCategories.ProfitAdjustments.Other to reflect current best practice.

• Prior Period Adjustments will now appear in the Statement of Financial Performance rather than the Statement of Movement in Equity, however you can return them to the Equity chart if you prefer.

• The last year balance for Equity at the Start of Period and Movements in Capital was incorrect in a periodic ledger. This has been addressed.

Reworked Compilation report The Compilation Report has been significantly reworked to comply with reporting standards. This includes an updated disclaimer statement, and the addition of a new database field for Practice Address Details, to include the Practice Address at the bottom of the report.

Reporter NZ Masters


Appendix 1 WaikatoBenchmarking COGS ClosingStock CostOfSales.ClosingStock CostOfSales.ClosingWIP OpeningStock CostOfSales.OpeningStock CostOfSales.OpeningWIP Purchases CostOfSales.Purchases Expenses.Direct FinPos TotalAssets CurrentAssets CashBank CurrentAssets.Cash Debtors CurrentAssets.AccountsReceivable Other CurrentAssets.AssetsHeldDisposal CurrentAssets.Intercompany CurrentAssets.Loans CurrentAssets.StockOnHand NonCurrentAssets NonCurrentAssets.FixedAssets NonCurrentAssets.Intangibles.Brands.Amortisation NonCurrentAssets.Intangibles.Brands.Impairment NonCurrentAssets.Intangibles.Brands.OpeningBalance NonCurrentAssets.Intangibles.Brands.Other NonCurrentAssets.Intangibles.Other NonCurrentAssets.Intangibles.ResearchDevelopment.Amortisation NonCurrentAssets.Intangibles.ResearchDevelopment.Impairment NonCurrentAssets.Intangibles.ResearchDevelopment.OpeningBalance NonCurrentAssets.Intangibles.ResearchDevelopment.Other NonCurrentAssets.Investments TotalLiabilities CurrentLiabilities CashBank CurrentAssets.Cash Other CurrentLiabilities.AccountsPayable CurrentLiabilities.EmployeeEntitlements CurrentLiabilities.GST CurrentLiabilities.HirePurchaseCurrent CurrentLiabilities.Other CurrentLiabilities.Taxation CurrentLiabilities.TermLoanCurrentPortion CurrentLiabilities.UnexpiredCharges NonCurrentLiabilities NonCurrentLiabilities Income Other Income.Other Professional Income.Professional Sales Income.Sales OverheadExpenses Administration 300:300 302:302 306:307 315:315 325:325 327:327 368:368 389:390 406:406


409:409 411:411 414:414 AdvertisingPromotion 303:303 320:320 EmployeeWages Direct 297:298 Indirect 301:301 318:318 369:369 433:433 470:471 Interest 381:381 Occupancy Other 314:314 336:336 412:412 422:422 435:435 RentalLease 427:427 Other 304:305 308:313 316:317 319:319 321:324 326:326 328:328 331:332 339:345 348:359 361:367 370:377 379:379 382:387 391:393 395:399 402:405 407:408 410:410 413:413 415:421 423:426 430:432 434:434 436:459 461:469 472:476 478:480 PlantEquipment 329:330 333:333 335:335 337:338 360:360 378:378 380:380 388:388 394:394 401:401 428:428 TelephoneFax 460:460 Vehicle 334:334 400:400 429:429

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