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
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.
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:
- Complete the STP readiness check in MYOB AccountRight 2018.2 or MYOB Essentials
- Connect to the ATO
- 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
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.
Looking for accounting or payroll software?
We have a solution for every stage of your business.
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
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