Moving to Cloud Accounting is Smart for Business - 19th September 2017

Soon, you'll be forced to. 

You would have seen our blog in May this year advising that Single Touch Payroll (STP) is coming from 1 July, 2018.

STP is a government initiative to further streamline business reporting obligations between businesses and the Australian Taxation Office (ATO).

Employers will be able to report salary or wages, pay as you go (PAYG) withholding and super information to the ATO from their payroll software at the same time they pay their employees. 

There will also be more options for completing tax & super forms online. The key dates are:

Size                                                              STP becomes compulsory 

Employers with 20 or more employees        01 July 2018
Employers with 19 or fewer employees       01 July 2019

To assist your business in working smarter and faster in this ever changing environment, transitioning to cloud accounting is a smart and cost effective investment.

As a small business, you can stay connected with your accountant and manage the ever growing reporting obligations more effectively online.

Cloud accounting means your data and software are accessible online anytime, anywhere from any device making it an easy option for you to gain an accurate overview of your finances whilst improving collaboration with your team.

And if you are concerned about data security there is no need to worry, online accounting systems are often more secure than traditional accounting programs that sit on your computer. An additional benefit to your business is uninterrupted access to your data even if your computer is lost, stolen or damaged – giving you greater peace of mind.

With these advantages in mind, the overall efficiency and productivity of your business is sure to be improved. With STP coming, the move to cloud accounting will almost certainly become compulsory. 

Contact us to start enjoying the many benefits of cloud accounting for your business. 

AV Chartered Accountants - Committed to Your Business Success

Two convenient locations:

WARATAH +61 2 4629 5533  | MAITLAND +61 2 4933 6100

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