Reckon – STP – How STP works – Single Touch Payroll

We wrote in another blog all about what Single Touch Payroll (STP) Reporting is about, and what the ATO tells us.

Reckon, an Australian company,is a popular accounting software for many small & medium businesses.

Here is how they are preparing for STP, from the Reckon and STP single touch payroll page -

We’re supporting STP across our online and desktop range. The following products are ATO compliant (from 1 July 2018):

• Reckon One;
• Accounts Hosted;
• Reckon Accounts 2018 version onwards;
• Payroll Premier 2018/19 version onwards.

Reckon developed a new application called GovConnect STP that will make meeting your STP requirements quick and easy. GovConnect STP acts a gateway to the ATO enabling you to view and lodge your STP reporting no matter what Reckon product you use.

✓ Lodge directly to the ATO
✓ Review before you submit
✓ No extra cost

✓ ATO status messages
✓ Review past submissions
✓ MFA secure

Single Touch Payroll Checklist

Reckon also have a created a checklist with some important questions to consider to help you get prepared for STP. See here.

And from the Reckon Community - Rav, the Community Manager, explains further detail –

1. You won't need to do anything other than upgrade to the latest version of Reckon Accounts Hosted which will be released in June.
2. No, we are not using an intermediary to lodge.
3. There is no additional cost to lodge using SBR through Reckon Accounts Hosted.
4. Users cannot do testing. All data transmitted through the service will be seen as live data as the ATO does not have a mechanism to set a lodgement as test data (aside from their test service which is for development use only and uses specific data).

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Bookkeeping - Xero - Single Touch Payroll - STP reporting

We wrote all about what Single Touch Payroll (STP) Reporting is about, and what the ATO tells us.

Xero is a popular accounting software for many small & medium businesses. Here is how they are preparing for STP –

From the Main Xero STP Page

Single Touch Payroll (STP) is a government initiative that requires businesses to report pay details to the ATO digitally.

If I begin using STP after 1 July, do I have to play catch-up in reporting to the ATO?
No. Each STP filing includes all year-to-date payroll information. This feature, along with the ATO deferral, will make for a smooth experience when you begin using STP.

Does STP cost extra in Xero?
No. STP compliance is part of the Xero product offering.

Will STP change my current payroll workflow in Xero?
The aim of our release is to ensure minimal disruption.

From the Xero Blog -

Xero will has a simple set-up process for Single Touch Payroll.

During the STP setup, Xero will display your software service ID (SSID).

You’ll need to provide it to the ATO in one of two ways. Either: 

• Call the ATO and notify them of the SSID; or 
• Login to ATO Access Manager (using AUSkey) and nominate a software service provider

Once you’re setup, the option to report a payment to the ATO will be presented for each pay run and your payroll information will be filed with the tax office.

Also, due to the filing requirements for STP, you’ll only be able to revert the latest posted pay run for each pay calendar after you’ve opted in.

Need help? Not sure? Call for FREE 30min advice / strategy session today!

Email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 0407 361 596 Australia
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MYOB – STP – Single Touch Payroll reporting

We wrote last week all about what Single Touch Payroll (STP) Reporting is about, and what the ATO tells us.

If you pay employees ypu need to report to the ATO via STP – using software or a BAS/Tax agent.

MYOB is one of the top selling accounting software for small business, and this software is one way to record and report via STP –

Single Touch Payroll (STP) is an ATO initiative to streamline payroll reporting. You’ll be able to report payroll and super information directly to the ATO when you process a pay run in AccountRight (from either online or desktop company files).

As a result of this change, starting from the 2018-2019 tax year, you no longer need to complete payment summaries at the end of the financial year as your employees' payroll information will be available to them through the government's online service, myGov.

MYOB Account Right

MYOB AccountRight has been enabled to help you get ready for STP reporting. AccountRight guides you through the setup process to make sure your payroll details meet the ATO requirements. You'll then set up a connection to the ATO.

1. Check employee and Company information
2. Connect to the ATO

For more see here.

MYOB Essentials

MYOB Essentials is preparing to get ready also. Before reporting payroll and super information to the ATO, you need to - 

1. Check that your company information and employee details meet ATO requirements. To do this, you can check your details in MYOB Essentials and view a list of errors that need fixing. Go Here for instructions.
2. The final step to set up Single Touch Payroll is to connect to the ATO. MYOB are working closely with the ATO to get this bit up and running as soon as we can. MYOB will be in touch when it's ready.

MYOB AccountRight v19. You can’t submit via STP in v19 – you need to upgrade to the new AccountRight (an AccountRight subscription entitles you to an upgrade). Once you've upgraded, take a glimpse at how the new AccountRight will help you set up Single Touch Payroll reporting.

Need help? Not sure? Call for FREE 30min advice / strategy session today!

Aus +61 407 361 596

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