MYOB is Single Touch Payroll Ready

Are you? The new financial year is here!

Report through Single Touch Payroll with MYOB

MYOB has worked directly with the ATO to ensure that you’re ready to go for Single Touch Payroll (STP) reporting

MYOB's easy-to-use solutions have been designed to make your transition as smooth as possible so you can spend less time on admin, and more time in your business.

What is Single Touch Payroll?

Single Touch Payroll is a new, simpler way to report your employees’ payroll information. This reporting change, mandated for employers with 20+ employees through Australian government legislation will ensure employers report payments such as salaries and wages, PAYG withholding and super information electronically through the ATO directly from their payroll software at the same time they pay their employees.

As a result of Single Touch Payroll, businesses will no longer be required to complete payment summaries at the end of the financial year as it will have already been done and available to employees through myGov. You will report your employees’ payroll information directly to the ATO from your payroll solution.

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What do I need to do?

This new reporting method is now mandatory for businesses with 20 or more employees. You would have needed to conduct a headcount of your employees back on 1 April 2018. If your business needs to be STP compliant and you aren't yet using an MYOB product, ask your vendor what steps they are taking to update your product. If you're using a MYOB product, see the need more help section below.

Click below to find out what your business needs to do:

For businesses who use MYOB AccountRight or MYOB Essentials and have 20 or more employees:

  1. Complete the STP readiness check in MYOB AccountRight 2018.2 or MYOB Essentials
  2. Connect to the ATO
  3. Process your next pay run as usual to report through STP

See the need more help section below.

 

For MYOB PayGlobal clients:

  • Contact your account manager to upgrade to a STP enabled product version
     

For MYOB Greentree, MYOB Exo Employer Services or MYOB Advanced People clients: 

  • Contact your partner to organise to upgrade to a STP enabled product version

For those employers that had 19 or less employees on 1 April 2018, STP reporting is voluntary. If you choose to take advantage of the simpler reporting, you can get started through your MYOB software today. See the need more help section below.

As a Certified Consultant, MYOB Bookkeeper or MYOB Accounting partner you may have clients who will be impacted by the STP changes. MYOB partners are encouraged to familiarise yourself with STP, identify impacted clients, work with your clients on a transition plan and have them start reporting through STP. Contact your Partner Manager directly if you have any questions.

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We have a solution for every stage of your business.
 

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Stay compliant. Update your software. Remain ahead.

For MYOB AccountRight customers, updating is simple - all you need is your email address or serial number.

Update your software today

Need a hand?

For MYOB Essentials and MYOB AccountRight customers, MYOB are offering classroom training courses on STP.

Learn more

Need more help?

No matter the product, MYOB has you covered for 1st July.

  1.  Update to AccountRight 2018.2 (if you're using AccountRight Live)
  2. Complete the STP readiness check
  3. Connect to the ATO
  4. Process your next pay run to start reporting

Visit the MYOB Community Forum, or our AccountRight or Essentials support pages to find out more information.

MYOB AccountRight Classic users should upgrade to AccountRight 2018.2 to be STP compliant. The good news is that clients on 2018.2 don’t need to move online. While STP will be supported in AccountRight 2018.2 for both cloud and desktop modes, we recommend taking advantage of the cloud services available in online mode (invoice tracking, smart bills, online payments, bill attachment, multi user and the ability to work from multiple locations).

AccountRight Classic customers who use multi-currency or any other AccountRight Classic feature that prevents them from moving to AccountRight 2018.2 will have a deferral in place until 31 May 2019. Contact your Partner Manager or MYOB Community Forum if you have any questions.

Contact support@payglobal.com or speak to your Account Manager directly.

No matter the product, MYOB has you covered. Contact your partner directly for more information if you use any of these products.

MYOB has worked very closely with the ATO to ensure any client who is currently utilising AccountEdge will have a deferral in place until 31 May 2019. Contact your Partner Manager or MYOB Support if you have any questions.