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TPAR – Reckon One – Set up the Taxable Payments Report in Reckon One

images/TPAR R-One.jpgAre you running a business providing services in the building and construction, cleaning, courier, road freight, IT or security industries?

Then you may need to lodge a Taxable Payments Annual Report (TPAR) – and need to know when is the due date?

Here we look at what the

1 Australian Tax Office (ATO) requires

and

2 Steps to set up and generate a Taxable Payments Annual Report from RECKON ONE software online.

1 ATO Requirements

The Taxable Payments Annual Report (TPAR) reports to the ATO about payments that are made to contractors for providing services in selected industries – building, cleaning, courier, IT, security etc. Some government entities also need to report the grants they have paid in a TPAR.

Contractors can include - subcontractors, consultants and independent contractors.

Contractors can be operating as sole traders (individuals), companies, partnerships or trusts.

The details you need to report about each contractor are generally found on the invoice you should have received from them. This includes:

  • Their Australian business number (ABN), if known;
  • Their name and address;
  • Gross amount you paid to them for the financial year (including any GST).

The ATO uses this information to identify contractors who haven't met their tax obligations.

When to lodge – due 28 August annually

There are different industries that need to report, and different start dates to begin reporting.

See our post HERE, for more detail.

2 Reckon ONE - The steps to set up and generate the report are – (a) Set the system, and then (b) Create the Report

  1. Set up
    1. Click the “cog” icon at far top right of screen > Settings > Book Settings under General > Ensure your Business/Company info is completed – especially Company Name, ABN, Address, Contact, Phone > Save
    2. Back to Settings > under Tax Settings > General > Are you Registered for Tax? > Yes and fill in options below > Save
    3. Set up Suppliers > Contacts in Left side Menu > Suppliers. For each supplier subject to TPAR (contractors) click its name to open, and at top right, tick Subject to TPAR > Verify ABN left side is best. Save and Close. Repeat for all applicable suppliers.
    4. In transactions – you can tick in each transaction if it is subject to TPAR also, and de-select individual transactions if not applicable when generating the TPAR report later.
  2. Create TPAR Report
    1. Click Tax in Left side Menu > TPAR
    2. There are 3 tabs – All, Draft and Lodged
    3. To start, click Add at top right. Select reporting year required and say NO to Amendment (unless it is)
    4. This give s list of your TPAR suppliers
    5. Click the arrow on the left of each supplier and you can see all the separate transactions. You can de-select any that don’t apply
    6. Generate File – click this at top right – this generates a TPAR.C01 to upload via the ATO Business Portal – it saves as a Download
    7. Print report form top right, as a record
    8. Email a PDF to the default email (as in your Settings, General, Email Settings)
    9. Once lodged, click LODGED and the TPAR becomes Read only

For a quick video, go here (login or create free login for the community) –

images/Reckon One TPAR video shot1.jpg

Need help? Not sure?

Call for FREE 30min advice / strategy session today! 0407 361 596 Aust – No obligation!

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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TPAR Reckon-Hosted – Set up the Taxable Payments Annual report in Reckon-Hosted software

images/TPAR R-Hosted.jpgAre you running a business providing services in building and construction, cleaning, courier, road freight, IT or security industries?

You may be required to lodge a Taxable Payments Annual Report (TPAR) – and do you need to know when is the due date?

Here we look at what the Australian Tax Office (ATO) requires and Steps to set up and generate a Taxable Payments Annual Report from RECKON Accounts / Hosted software.

1 ATO Requirements

The Taxable Payments Annual Report (TPAR) is a report to the ATO about payments that are made to contractors for providing their services. Some government entities also need to report the grants they have paid in a TPAR.

Contractors can include - subcontractors, consultants and independent contractors.

Contractors can be operating as sole traders (individuals), companies, partnerships or trusts.

The details you need to report about each contractor are generally found on the invoice you should have received from them. This includes:

  • Their Australian business number (ABN), if known;
  • Their name and address;
  • Gross amount you paid to them for the financial year (including any GST).

The ATO uses this information to identify contractors who haven't met their tax obligations.

When to lodge – due 28 August annually

There are different industries that need to report, and different start dates to begin reporting.

See our post HERE, for more detail.

2 Reckon Accounts (and Hosted) - The steps to set up and generate the report are -

1 Enable the Taxable Payment Reporting option in the preference to be able to open the report.

  1. Go to the Edit menu, choose Preferences.
  2. Choose the Tax item and go to the Company Preferences tab.
  3. In the Taxable Payment Report section, click to select the Enable the Taxable Payment Reporting option.
  4. Click OK.

2 Enable a supplier (sub-contractor) to become reportable on the Taxable Payment report

  1. Go to the Suppliers menu and choose Supplier Centre.
  2. On the Suppliers tab, double click the supplier's name to open the supplier's profile.
  3. Click to select the “Include in Taxable Payments electronic report” option.
  4. Click OK.

3 How do I create this report to have what I need to upload or write on the ATO form?

1)      Go to the Suppliers menu, click Tax Activities, click Process Taxable Payments.
The Process Taxable Payments annual report window opens.

2)      Click the Tax Year drop-down to select the tax year you are reporting on.

3)      If applicable, click the Withholding Liability Account drop-down to select the account you use to track withholding tax.

4)      Click the (tick) column to select the selected suppliers that you want to appear in the selected tax year's report.

5)      Click the supplier to view the transactions for each supplier that are included in the report.
The Supplier Taxable Payments Details - <supplier name> window opens.

6)      You can review each transaction and click to deselect if you don't want a transaction that doesn’t apply, included.

7)      Click OK.

8)      Click Save to save the changes (if you have made them) in the Process Taxable Payments annual report window.

9)      Click Export to save the report to your disk. The Select Location for Tax Payment Report File window opens. Enter a file name for the report, we recommend using the date in the file name.
The default location for the file is \\ProgramData\Intuit\ReckonAccounts 2013\<level> 2013\<Company Name>\Export Files\Tax Payment Reports. For Reckon Accounts Hosted users, the default location is "Q:\".

10)   Click Save. You will receive a message that the file has been successfully written. If you have electronic AUSKEY, you can upload the file to your ATO portal

Note: If you make any changes to the data whilst the Taxable Payments Annual Report Window is open, the report needs to be closed and reopened for it to refresh.

4 How do you Amend the TPAR report if incorrect?

If you require to submit an amended report to the ATO, select the Generate Taxable Payments as ‘Amended'option in the Process Taxable Payments annual report window.

Select the supplier that has been amended from the list and click Create Report.

Get a FREE 30 min answer to your query, and FREE ongoing email or phone support – no-one offers as much! Call and you also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!

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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