Dear Munsoft Client,
Kindly take note that we are in the process of uploading the new mSCOA Chart 6.7, as released on 9 December 2022.
We kindly request you to familiarise yourself with the changes as listed by National Treasury:
http://mfma.treasury.gov.za/RegulationsandGazettes/MunicipalRegulationsOnAStandardChartOfAccountsFinal/Documents/mSCOA%20vs%206.7
Further communication will be sent in due course regarding any validations between Chart 6.6 and 6.7 for guidance on the way forward and to ensure a smooth transition.
The following changes are worth noting:
- Alignment of Property Rates under Current Assets to MPRA requirements, concerning the usages of properties.
- New addition to Liabilities - a group for Liabilities:Current Liabilities:Trade and Other Payable Exchange Transactions:Control, Clearing and Interface Accounts:Salary Clearing and Control:Salary Control - Remuneration of Councillors, as this will assist in differentiating between Municipal Employees and Councillors in the Cash Flow.
- The Availability charge raised per Service under Current Assets are now aligned with the Revenue Item, allowing for Non-exchange classification.
- Abeyance Debtors - Retired.
- Depreciation and Amortisation for Land - Retired.
Please do not hesitate to contact us if you have any queries.
From,
the Munsoft Team.
