Hawkesbury Bookkeeping

Affordable Bookkeeping Solutions for your Small Business

ATO

Don’t want to pay for STP Software?

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If you run a small business and manage your payroll manually, you’re not alone but Single Touch Payroll is now here and it’s time to look at managing your payroll utilising software.

Manually managing your payroll may feel like a low-cost solution however it’s probably costing your business much more than you think. If you’re worried about spending money on a software system, there are affordable software solutions available and you will also find that these systems save you so much time and money.

Here are three reasons why:

Payroll is time consuming

It takes time to process employee hours and errors may occur. An online accounting solution gives you the option to have your employees enter their hours into an ap.

Time saving!

Single Touch Payroll is here

STP requires business owners to be reporting their payroll activity every time a pay run is processed. This requires an approved software solution.

Single Touch Payroll reports wages and salaries, PAYG withholding and superannuation directly to the ATO. Your employees can then access their payroll data via the my.gov.au website.

You need to comply.

Save yourself some money

An online accounting solution will save you a lot of time and our packages start at just $19 a week. Whilst you may think you’re saving some money without software in place, you will probably find that it’s actually costing your business money.

Affordable!

Book a Chat with us today or Contact Us to see how affordable and easy it is to have a software system in place.

According to NSW Small Business Commissioner 1 in 5 small businesses wrongly believe Single Touch Payroll (STP) doesn’t apply to them

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Single Touch Payroll is being reported as one of the biggest changes since the introduction of the GST in July 2000. STP is the mandatory move to digital payroll reporting and it commences for businesses with 1-19 employees on 1 July.

According to a survey by Xero, 55% of small business owners don’t even know what Single Touch Payroll is

From July 1, all Australian employers will be required to report pay and superannuation information to the Australian Taxation Office in one click via single-touch payroll systems.

The introduction of STP means that employees will be able to access their PAYG Payment Summaries through their MyGov account.

For businesses it means that employers will have to upload the data online rather than email or post an employee’s end-of-year payment summary to them.

So are you ready for Single Touch Payroll on 1 July?

If you’re not quite ready, don’t panic. We can help you get sorted for STP. We have a range of affordable solutions to assist.

Book a Chat or Contact Us in order to comply with Single Touch Payroll.

Single Touch Payroll isn’t too far away

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Single Touch Payroll (STP) is a new initiative from the ATO to report your employees’ payroll information. If you pay 1-19 employees, you will need to be compliant between 1 July and 30 September 2019.

Once you’re set up, you will send your employees’ salary, tax and super info to the ATO after each pay. This means no more payment summaries at the end of the financial year. Instead, your employees can access their payroll information through the ATO’s online service MyGov.

Xero, MYOB and QuickBooks all have STP solutions built into their software.

Talk to us today or Book a Chat about taking the next step to implement the solution that best suits your small business but be quick because 1 July is fast approaching.

Are your ABN details up to date?

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Did you know that you must update your ABN details when you become aware of changes?

You can update your details by visiting the Australian Business Register (ABR) website.

Keeping your details up to date on the ABR will ensure:

  • the right people have the right permissions to act on behalf of your business
  • correct information is available to government agencies, for example, emergency services contacting you during times of natural disaster
  • your business is ready for new government services when they become available.

Information sourced from: The ATO Small Business Newsroom