Tax Rollover FAQs
It’s Tax Time again and we have come up with this FAQ to help you plan your Tax Rollover for another year.
Tax Rollover Process
Each year, all of our InfoTech technical staff are called to the office for a fun-filled day of installing MYOB, APS and HandiSoft updates to enable Tax returns for the new Tax year. We assign each engineer 2-4 clients and they are responsible for the install, RSD and basic testing, then notifying your testing contact. Senior technical resources are also available for any issues that may come up and we ensure that vendor support from MYOB, APS and HandiSoft are available where possible while this happens.
What is RSD?
RSD stands for Retain Schedule Data.
This is a process for MYOB AE clients where we run an RSD procedure after the install of the new Tax year software.
Running the RSD will create all of the previous year’s Tax Returns in the new Tax year along with any schedules that had data. The schedules in the new year will not have any data.
If the RSD procedure is not run, when the clients profile is opened in the new Tax year the accountant will be prompted to complete the roll over process.
The RSD procedure is by far the longest process that is run as part of the Tax software installation and takes up to 6 hours for our larger clients.
Why do you need a testing contact?
We are not accountants!
While the installation may look to have completed OK and our basic checks may pass, we require a testing contact to ensure that deeper level items are testing while Vendor support contacts are available.
I have more questions!
Please contact your Technical Account Manager to discuss anything that we have not covered here.