Global Bookkeeping Week is coming to a close for another year, we are taking the time to step back and think about what it is we do as modern bookkeepers.
Around the globe bookkeeping has been evolving over recent years…
Small business owners need a guardian angel – someone like a bookkeeper to keep them on the path of light and away from the darkness of a tax office audit.
These days BAS agents (professional bookkeepers) are usually found working in the cloud.
So you’ve got staff and you need to opt in for STP reporting, why not setup xero auto super while you are at it?
STP reporting is designed to make sure employers are paying staff super – on time.
Single Touch Payroll (STP) is the new way to report employee wages, withholding tax and super data to the ATO.
Instead of waiting til after the end of financial year – businesses will be reporting electronically in real time – you need STP enabled software to do this (no more carbon paper forms).
Have you heard the latest gossip from the tax office?
Don’t rely on the rumour mill at the pub – make sure you discuss possible issues with your BAS agent before you get caught with your pants down!
*Subscribe to Xero
*yada yada yada
*staff paid & BAS lodged
Wouldn’t it be wonderful if it was as easy as that!
Add it to a burger 🍔 or even 🍕 pizza, but when it comes to bookkeeping – don’t get the rough end, use a registered BAS agent .
All employers need to start reporting each payrun (pay event) to the ATO by 30th September 2019.
Before you start there are a few things you need to know and do:
From July 2019 the tax office will require all businesses to report all wage details (including tax and super), for all staff, on or before each and every payment. You will continue to pay your staff as normal, but the tax office will be tracking super payments on behalf of employees to make sure entitlements are being paid, on time!
What are the facts a small business owner needs to be aware of?
You need to get your advice and support from registered experts.
Free advice or gossip is usually not worth paying for!
