22nd June, 2016
Lodging GST returns directly to Inland Revenue is about to become a whole lot easier for larger businesses thanks to leading online accounting software provider MYOB.
MYOB is the first and only provider to offer online eGST filing in New Zealand, saving time and significantly simplifying the GST submission process for businesses.
Previously only SMEs had the ability to directly file eGST returns through MYOB. Now larger enterprises using its EXO product will be able to use the service.
“Our customers tell us that they love this service. They’re finding it’s a real time saver that makes the GST lodgement process a whole lot simpler,” says MYOB General Manager Engineering & Experience Adam Ferguson.
“It’s great that we can now offer this service to our larger customers. MYOB is constantly looking for innovative ways to help local businesses succeed and we’re proud to be the first company in New Zealand to offer this service to our customers.”
The way it works is that a business’s GST return is prepopulated through its MYOB accountancy software, based on real time information about its sales. The return is then securely sent to Inland Revenue electronically, meaning businesses do not need to manually enter figures into a separate GST return, print a copy and physically send it to Inland Revenue.
Mr Ferguson says he has been pleased and surprised at the number of SME customers lodging eGST returns through Essentials. MYOB EXO is for medium-sized and larger businesses with more complex requirements, and the new feature demonstrates MYOB’s commitment to bringing innovative solutions to all parts of the market.
“We know that simplification of the taxation system is a top priority for business. MYOB has been working with Inland Revenue to identify opportunities like this to streamline compliance, so businesses can focus on wealth generation,” says Mr Ferguson.
“We’ve been first-to-market with eGST products for both large and small businesses because we’re dedicated to this country. We have more than 350 staff in New Zealand, with more than 100 in our Engineering and Experience team building services like eGST filing.
“Being able to file eGST returns online highlights the benefits of specialist business accounting software. MYOB is committed to delivering innovative new solutions in business accounting to help New Zealand businesses grow and succeed,” says Mr Ferguson.