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MYOB – STP – Single Touch Payroll reporting

images/MYOB logo new.JPGWe 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

and also get FREE“Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right!”

You can also search for more info you need in the box towards the top right, or click for the list for MORE articles.
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