Intercloud Solutions

01/03/2022

All you need to know about SINGLE TOUCH PAYROLL (STP) PHASE 2

The ATO are corresponding with employers to ensure that they are STP Phase 2 ready. The following key information addresses common questions about the STP Phase 2 program.

What is STP Phase 2?

STP Phase 2 is an extension of the Australian Government STP initiative which originally started on 1 July 2018. It expands the program to capture more detailed payroll information.

When does STP Phase 2 start?

The mandatory start date for STP Phase 2 was 1 January 2022, however, the ATO have adopted a flexible approach to the transition. A number of Digital Service Providers (DSPs) including Xero and MYOB have secured deferrals to allow more time to upgrade their solutions to meet STP Phase 2 reporting requirements. Xero have secured a deferral until 31 December 2022. Similarly, MYOB have a deferral until 1 January 2023.

What is changing with STP Phase 2?

Many employers will find that the additional information required is already captured by their current payroll software. The key changes include:

Gross income will be disaggregated to report the various components.
Reporting employment and taxation conditions for employees including TFN or ABN, commencement date, employment basis and tax treatment via a new 6-character code.
Reporting income types to identify amounts with specific tax, super or social security treatments.
Reporting country codes for Australian residents working overseas.
Option to report child support garnishees and deductions.
Option to provide previous Business Management Software IDs and Payroll IDs.

What are the benefits to employers of STP Phase 2?

STP Phase 2 will streamline employer interactions and ease the burden of reporting employee information to multiple government agencies. The key benefits include:

Removing the need to send TFN declarations to the ATO (although these should still be completed and held with employee records).
Notifying concessional reporting via income types (e.g. for closely held employees).
Removing the need to provide Lump Sum E letters for back payments to employees.
Notifying changes in software or employee payroll IDs to fix issues with duplicate income statements through myGov (only if this functionality is supported by your solution).

How can I get support with the STP Phase 2 rollout? Contact Georgina Dixon 0418103476 or email [email protected]

27/11/2021

Xero shortcuts https://www.growthwise.com.au/news/2021/xero-tip-shortcuts-tricks?fbclid=IwAR25nYmlgpTUNqMt2r4U5q-Xq92HPocC9feYa0QnMj7kd6S4yM2GS43vzJM

Xero has a lot of quick shortcuts you can use - we've outlined some of them below

31/07/2015

If you have a business then you need to be using cloud accounting software such as Xero or Quickbooks and Receipt bank, seriously no more data entry saving hours and hours of time. Imagine you have to take a business asset back because it broke and was under warranty?! All you need to do is log in to your accounting software, search for the supplier and print out the invoice! Accountant is doing your tax return and needs invoices to support claims, no problem there is the invoice for them to see, so easy no wading through mountains of paperwork any more you can throw it in the bin, those petrol receipts fade anyway!! Receipt bank even reads handwritten invoices! Another bonus *Free conversions from desktop versions of Accounting programs. *Free set up on xero or Quickbooks and first month free subscription. Quickbooks plans start and $12 per month, xero $25 per month. Call 0418103476 to find out more or send me an email to [email protected].
*conditions apply.

31/07/2015

Just a tad excited! National bank feeds can now be set up through xero and internet banking!! No more forms needed! :) :) I am liking you a bit better now NAB!

07/05/2015

16/04/2015

This is fantastic :)
https://www.xero.com/au/tv/video/9019-find-recode-in-xero/?utm_source=ET&utm_medium=email&utm_content=http%3a%2f%2fwww.xero.com%2ftv%2fvideo%2f9019-find-recode-in-xero&utm_campaign=407+Pre-release+9.5

Find & Recode makes fixing client mistakes fast and easy by allowing transactions to be searched for and updated en masse. Perfect for bookkeepers and accountants to help keep their clients accounts on track throughout the year.

29/03/2015

Happy Monday - don't forget our competition - 6 Months Free XERO - get commenting or tagging family and friends you think would benefit from such an amazing offer. :)

27/03/2015

This little beauty is the PRIZE - dont forget to enter or tag a freind/family member you feel might be in need of FREE Accounting Software.

27/03/2015

*********** Competition Time ****************

Everyone LOVES a freebie, and the team at Intercloud Solutions are no different, which is why we have great pleasure in having a 6 month subscription to XERO - worth $540.00 - for one lucky person to WIN.

It is easy - just LIKE our page and COMMENT - sharing is not a condition of entry - but remember sharing is caring :)

Question: what you hate the most about doing your books???

Comment: ??????

Yes it's that easy - the best/funniest/interesting comment - will WIN So don't hold back...... Winner will be drawn Thursday 2nd April 2015. 12pm

Conditions are that you must not be one of our current XERO customers (SORRY), but everyone has family and friends that $540.00 of software could easily help. It is an amazing PRIZE.

Please note - This is not a competition run by facebook.

23/01/2015

Quotes are finally here in Xero :) http://vimeo.com/113970830

Customer Login for Xero Accounting Software. Welcome to Xero, if you don't have a login try Xero for free.

22/01/2015

Well I am impressed! One Xero conversion done from MYOB in a couple of hours thanks to Jet To Convert you are amazing! Client was told it could take up to 7 business days so imagine their surprise this morning to be able to log in and start working in Xero right where they left of in MYOB yesterday! Also brought over data from July 2013 and the jobs and figures came across too! :) And best of all this service is completely free for a limited time so get in quick if you are looking at converting!

13/01/2015

http://www.aboutbookkeeping.com.au/
We have just updated our website and are now offering new pricing packages for bookkeeping :)