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Upgrade task - taxable payments reporting

This information applies only if you're upgrading from AccountRight Classic (v19).

If you used the taxable payments features in AccountRight v19, there's a few things you need to know.

Here's what's different:

  • There's a new system preference to activate taxable payments reporting:

    taxable payments pref with callout

  • Individual purchase transactions can be marked as reportable:

    reportable payments txn

  • Taxable payments can't be tracked for employees, using payroll

  • There's a new Taxable Payments Assistant, which enables you to review your payments before creating the report:

    TPAR review txns

  • There's a new Taxable Payments Annual Report [Detail]

For information on these features, see Reporting taxable payments.

The latest version of AccountRight now supports taxable payments for the cleaning and courier industries.

If you used employee cards to track taxable payments in v19

AccountRight v19 allowed you to track taxable payments for employee cards, using payroll. Now, taxable payments can only be tracked for suppliers and contractors using Spend Money, purchase orders and bills.

If you paid contractors as employees using AccountRight v19, there's a few things you need to do. Note that you only need to perform these tasks once and only if you paid these contractors in the current payroll year.

Do you still need to report taxable payments? 

If you are no longer in the building and construction industry, or did not pay contractors for building and construction services for the year, you can inform the ATO to avoid unnecessary followup.

What's next?

You can now start reporting taxable payments in the new AccountRight.