Single Touch Payroll Phase 2 Certification
April 6, 2022 3:22 pm | by Archana
SapphireOne successfully completes and certified for PAYEVNT 2020, Salary and Wages, Closely Held Payees, Inbound Assignees, Working Holiday Makers, Seasonal Workers Programme, Labour Hire and Other Specified Payments.
SapphireOne Single Touch Payroll Phase 2 Compliant
March 31, 2022 2:15 pm | by Archana
SapphireOne has been certified for Single Touch Payroll Phase 2 and Standard Business Reporting (SBR). As a result, SapphireOne clients will be the first to enjoy the benefits of Single Touch Payroll Phase 2.
The SapphireOne team is updating Payroll/HR with Single Touch Payroll Phase 2 reporting for clients. Most importantly, STP Phase 2 will offer a more streamlined approach for employers reporting on payroll. Clients can report a pay event (upon payments subject to withholding) or an update event (upon transition, correction, or finalisation) to the Australian Taxation Office (ATO).
SapphireOne is assisting clients in the roll out of Single Touch Payroll Phase 2 across the board. In turn, we are working alongside the ATO during the implementation process, detailing reports and information. In the meantime, we suggest all SapphireOne clients review the ATO STP Phase 2 employer reporting. Similarly, all changes to the current reporting process as well new information will be included in the new payroll reporting process.
SapphireOne enables clients to run payroll and report all employer and employee tax and super information with Single Touch Payroll. Similarly, this information and reporting practice will remain the same with Single Touch Payroll Phase 2.
Reporting and Implementation of Single Touch Payroll Phase 2
Mandatory reporting began on 1 January 2022 and SapphireOne clients can now book an implementation for Single Touch Payroll Phase 2. Please email sales@sapphireone.com to request implementation.
In addition, SapphireOne will be providing the ATO with a report on the information clients will be required to give. This includes:
- details of the remuneration you pay
- the type of income for the employee (such as salary and wages, or working holiday maker income)
- the components which make up the amounts (such as gross pay, paid leave, allowances, or overtime)
- details of your pay as you go (PAYG) withholding
- the amounts you have withheld from payments you make
- information about how you calculated the amount, which you currently provide to us by sending a copy of the employee’s TFN declaration
- super liability information.
Key Changes to Single Touch Payroll
There are some significant changes to note in regards to additional information for Single Touch Payroll Phase 2 reporting. These include:
- Disaggregation of Gross – more detailed reporting of the various components and payment types that make up a gross amount.
- Employment and Taxation Conditions – Including employee information i.e. employment basis, TFN declaration and details of leave in STP reporting.
- Income Types – Identifying employee payments with specific tax consequences and concessional reporting arrangement. Therefore, streamlining the individual income tax return process for employees.
- Country Codes – reporting on payments made to Australian residents working overseas.
- Child Support Garnishees and Deductions – Included in STP reporting, removing separate remittance advices to the Child Support Registrar.
- Reporting Previous Business Management Software IDs and Payroll IDs – Reducing and resolving any issues with duplicate income statements for employees. Similarly, reporting if there have been any changes to software, business structure, etc.
A detailed overview of the Key Changes to Single Touch Payroll is listed on the ATO website. Read more here.
Major Benefits of Single Touch Payroll Phase 2
The ATO has noted that streamlining the Single Touch Payroll process will bring major benefits to employers and employees alike. Employers will no longer need to provide employees TFN declarations directly to the ATO, maintaining them within employee records. Additionally, Services Australia will receive reports with payroll information streamlining employment information and requests.
Also, the ATO is streamlining employees interactions through pre-filled individual income tax returns. As a result, it’s providing better visibility on types of income and other information for reporting i.e. claims, benefits, changes to employment, etc.
To read the full list of Benefits of STP Phase 2 listed on the ATO website click here.
Requirements for SapphireOne Clients
The requirements for the SapphireOne client will be to email Sales requesting a quote for implementation. Please provide a list of each of your companies that has employees and an approximate number of employees per company. Subsequently, SapphireOne will provide a quote on a company by company basis.
The SapphrieOne implementation process includes identifying the fields that will need updating within your SapphireOne company data file. In addition, we ask clients to gather the appropriate information and we will populate that within the live data file. After populating all fields, we will be able to go live for that one company. For instance, if your organisation has multiple companies, please note in order which company you want implemented first and then a sequential list of companies to follow.
SapphireOne Single Touch Payroll Phase II (STP) Deferral Letter
February 21, 2022 9:54 am | by Archana
Dear SapphireOne Clients,
We are obviously very disappointed that we have missed the Go-Live date for Single Touch Payroll Phase II on 01/01/2022. We have put a committed and sustained effort into the test cases and the development of SapphireOne rollout of Single Touch Payroll Phase II. This commitment has now been almost two years in our development cycle and has taken substantial resources from both our side and the Australian Taxation Office (ATO). The ATO has informed us that we are extremely close to completion and certification of the Single Touch Payroll Phase II. We believe that we will be able to notify you all very soon. But to quote the old analogy “Until it’s in the bank, let’s not get too excited.”. We will be keeping you informed as soon as we have reached completion and certification. In the meantime, please use the below letter when dealing with the ATO in regards to anything to do with Single Touch Payroll for SapphireOne clients.
Regards,
John Adams
CEO, SapphireOne
SapphireOne’s Jack Adams competes at the 2021 FIS Alpine World Ski Championships – Round 2!
February 24, 2021 3:58 pm | by Archana
Watch Jack Adams 2nd run for New Zealand in the Slalom event at the 2021 FIS Alpine World Ski Championships.
Congratulations again to SapphireOne sponsored athlete Jack Adams who has just competed in the 2021 FIS Alpine World Ski Championships in Cortina, Italy. The event is held every second year and showcases the best alpine athletes from around the world.
In the Giant Slalom Jack placed 32nd in the Qualifying race, just missing out on the finals, and achieved an impressive overall ranking of 50th.
In the Slalom Jack fought hard in Run 1 on a course that challenged the best in the world, with 30% of the field being a ‘Did Not Finish’ (DNF). Jack moved from 71st to 35th after the first run and was ready for Run 2.
In Run 2 he was on track for a top 20 result, and just a few gates from the finish line hit one bump too many and joined the 70% of athletes that had a DNF.
Check out the below interview with Jack written by SnowSports New Zealand for the February Alpine Newsletter.
Spotlight on: Jack Adams!
Hometown: Bondi, Sydney but Coronet Peak is his home mountain in New Zealand.
Currently Located: With Race Center Benni Raich in Austria
Skiing goals for 2021: Make a top 30 result in Europa Cup next Northern season.
Top three skiing results of your career:
- 25th in Slalom at the 2018 World Junior Championships
- Overall New Zealand Alpine Champion 2020
- 43 FIS points in an Austrian FIS Race in Slalom
Most memorable skiing moment:
Definitely competing in Super G at the Junior World Championships in 2018 in Davos Switzerland. I have never spent much time training or competing in Speed events but I was able to enter the Super G based off my GS points at the time and so I figured why not. I have never been so scared in a start gate in my life…I was completely terrified.
The start gate was on top of a ridge which was only about 4m wide and had B-netting on both sides so you felt like you were in narrow tunnel and on both sides of the fencing was a very steep drop. The course began with about 20m of dead flat skating before dropping into one of the steepest faces I had ever raced down, it was completely injected with water to make the surface rock hard ice and the way the gates were set meant that you dropped into this pitch and then tucked in a straight line for about 20m before turning, there were then two turns before hitting a flat compression and going straight off a jump, which was also the biggest jump I had done in a Super G race before.
That was just the first 10sec or so of a 1.10min course. I didn’t achieve any sort of impressive result in that race but skiing that course was one of the highlights of my life, it was so much fun and one of the races I will never forget.
Three fun facts we didn’t know about you?
- When I’m not skiing or at uni you’ll find me in the water, I absolutely love the ocean and love surfing
- A random hobby of mine is juggling, always carry juggling balls with me as I travel around Europe. Recently got 4 balls pretty down pat and now trying to figure out how to juggle five.
- Huge fan of old school music, Elton John, Van Morrison, INXS to name a few.
How did you get started in ski racing?
My parents are super keen skiers and so I was on skis from day 1 and have always loved it. When I started at school I did some races for school and then I started doing some training and one thing led to another and suddenly I was travelling all around the world to train and compete.
Interview by SnowSports New Zealand.
Video edited by Steve Kantarelis and Adam B.
Blog by Suzie Adams and Maddie Kent.
Access your integrated SBR Software via Management Mode
September 14, 2020 10:36 am | by Archana
As SapphireOne has all Standard Business Reporting rules of the ATO built-in within its Management Mode, it is a SBR software.
In this capacity, it collects the required information for each individual government report directly from the client’s business records.
Standard Business Reporting is a standard approach to record-keeping that was introduced by the Australian Government back in 2010 to simplify the obligations of companies regarding business reporting. When a report is required, our SBR software pulls the required information from the data file and fills it out automatically via the functionalities contained within the Management Mode. Consequently, our clients spend less time collating information, filling in forms and submitting reports to participating government agencies.
The Management Mode not only offers access to all the benefits of using an SBR software, it also incorporates various other helpful items such as:
- Run all End of Month and End of Year functions, either in one go or separately for Financials, Assets and Payroll
- Create all Standing Transactions
- Access Cash and Accounts Movements Reports, Payroll Tax and Monthly Activities for Payroll Reports, a Statement of Equity and GST Summary Accrual Reports for review
- View Statement of Position Reports, Business Activity Statements and Bank Reconciliation Reports
- Produce By Period Reports of all Records changing the values in the General Ledger
- Print Audit trail Reports for any transaction files in Accounts Mode (Receivables, Payables and General Ledger)
Businesses that use an SBR software are able to easily report using information already recorded as part of running their business. With this option, the use of the Management Mode saves a lot of valuable time of the accounting staff and it ensures that the reports are error free.
If you would like to find out more about the simplicity and ease of use of our SBR software via Management Mode, visit our blog.
Assets Software to manage your Assets Depreciations
September 9, 2020 9:51 am | by Archana
Our Assets Software functionality is integrated into all other modes, which enables users of SapphireOne to easily keep track of its company’s assets and their depreciations.
Entering new data in the equivalent Mode of the Assets Software creates a number of transaction types that can also link through to the financials mode:
There are two groups that Transactions in our Assets Software can be divided into:
Transactions which are transferred to Financials as a GJ, VI or MP:
- DGJ – Depreciation General Journal
- PGJ – Purchase General Journal
- SGJ – Disposal Sale General Journal
- VGJ – Revaluation General Journal
- RGJ – Reverse Sale General Journal
Transactions which are retained within Assets:
- DNT – Depreciation Note
- DLN – Depreciation Loan
- DSR – Depreciation Service
- DRP – Depreciation Repair
- DCO – Depreciation Company
The Assets Software is based on two principles:
Assets Depreciations
This is the calculation of multiple depreciation schedules in relation to the company assets. Only one depreciation schedule may be transferred to the General Ledger. This covers the ATO Standard, plus the Company required value. For example: Your company may wish to retain a record of the WDV tax value, plus the potential WDV sale value. We suggest that only the transactions relating to the ATO Standard are transferred to SapphireOne, while the company transactions are kept within Assets in order to give a true reflection of the assets worth.
Asset Control
The Assets of your company can be purchased, sold and controlled with ease in SapphireOne. It includes the ability to record locations of assets and the specific staff responsible for each. Further, you can keep a record of all asset details, including the warranty period, any repairs that were done and loans that were taken. This enables the tracking of the life of any asset in the company.
If you would like to find out more on how to manage and control your Assets Depreciations etc. with our Assets Software, have a look at our website.
