January 30, 2019 * Archana at 1:20 pm
Australian Taxation Office- Single Touch Payroll (STP) and how it affects business
There has been a lot of talk and sometimes panic about single touch payroll, but many companies can simply update their existing software or choose a product by 1 July 2019. Single Touch Payroll is the next step in streamlining your payroll reporting with the Australian Taxation Office.
SapphireOne was the was first to achieve world-wide full accreditation on 1 May 2018 and our clients have been enjoying the benefits ever since.
STP requires businesses to report directly to the Australian Taxation Office after every pay run with wages, salaries, PAYG and super. STP is mandatory for employers with 20 or more employees from 1 July 2018 and from 1 July 2019 for employers with 19 or less employees.
Businesses will need to report to the Australian Taxation Office after every pay run instead of once a year. No more annual payment summary reports or employee payment summary reports as these are produced by the Australian Taxation Office. Employees simply log into myGov to view their information.
Australian Taxation Office – STP Integration into SapphireOne in a Few Easy Steps
Set-up your Auskey in SapphireOne
If you can’t find your Auskey, contact one of our support team and they will help you
If you have your Auskey:
Go to Utilies Mode, in the Top Menu Bar select Controls then Company
Click on the company in “Company Inquiry” Screen
Under Utilities Mode go to More Details
In SBR box on the bottom right type Auskey in “Keystore File”
Type Auskey password in “KeyStore Password”
Enter in the contact details and then press the upload button
Now you’re ready to run Single Touch Payroll.
In Payroll Mode
In the top tool bar select History then Pay Run Log/STP
Highlight the Pay Run you would like to submit to the ATO
Click on the bottom “STP Submit” button
Navigate back to the “Pay Run Log/STP” screen
Highlight the Pay Run you would like to process
Click on the “STP Get Result” button on the bottom left
You will receive a pop up “Alert” when the report has successfully submitted.
It’s that easy- SapphireOne has Single Touch Payroll and Accounting needs at your fingertips.
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