'Not all tax rates have been defined' message.

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MySF

Posted 21/08/2007 6:16:08 PM

MySF Administrator

Group: Administrators
Last Login: Yesterday @ 11:32:15 PM
Posts: 133, Visits: 636

Hello everyone,

A lot of people have been emailing us with the error that occurs during the start of the Year End Rollover. The error says, "Not all tax rates have been defined".

In order to correct this issue, please follow these steps:

Go to 'File > Settings' and click the 'Financial' tab. You will see a drop down box with the different tax rates associated with your fund. What you need to do is the following for every tax rate in the drop down box:

1. Select a tax rate from the drop down list.

2. You will notice that the tax rates shown in the white box below the drop down list only go up to 30/06/2006. You need to click Add Entry underneath the white box to include a new tax rate entry.

3. The next screen will ask you to enter the tax rate and effective date. Unless the tax laws have changed for Australia with that particular tax rate (please check www.ato.gov.au), the tax rate field should be the same as the previous ones shown in the white box. The effective date should be the day after the last entry shown in the white box.

4. You need to perform the same steps again for each tax rate shown in the drop down box.

Once you have completed all the tax rates, if you go back to the Year End Wizard, you should be able to proceed past the first screen.

The next update for MySF Manager will contain the latest tax rates. We will also change the aforementioned error message to include the solution to the error.

If you require any assistance with any of this or you have any further queries or questions, please do not hesitate to contact us at info@mysf.com.au

Regards,

MySF

Post #3508

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