On 1 July 2018, the Australian Government implemented Single Touch Payroll (STP), a legislation that changed the way businesses report payroll information to the Australian Taxation Office (ATO). STP required employers to share payroll information such as salaries, wages, deductions, Pay As You Go (PAYG) withholding and superannuation details directly to the government in a digital format as their employees get paid simultaneously. The legislation required a significant change in the way Australian businesses run their payroll and reporting schedules, and for payroll providers to update their technology to support this move, reducing the risk of non-compliance.
We are pleased to announce that Ascender Preceda is now certified for Single Touch Payroll, providing users with the ability to process the payroll and manage all transmissions with the ATO directly from the software. This certification provides significant cost and time savings for employers as it allows them to work with a single vendor, reducing the need for additional vendor contracts.
Activation is easy, done through Preceda’s Single Touch Payroll Configuration screen available in v15.3. Twenty (20) customers are ready to be activated, and with the next software update in mid-October that enhances the data preparation on the Preceda STP Health Check screen, we expect to have more as customers become STP ready.
As businesses await their activation, they are encouraged to continue their STP preparation activities using the STP checklist. Users who will be managing the process will also need to attend a training to further prepare them for the transition.
Ascender will be scheduling a STP webinar with the release of Preceda v15.3.02 to provide an overview of the health check process, as well as payroll processing once STP is activated. Online tutorial videos will also be provided to help Preceda users continue with their preparations. Once all required preparation steps have been completed, customers may request to be activated and we will be reaching out to schedule it based on how fits with their business processes.
For more information on Preceda Single Touch Payroll, don’t miss our upcoming webinar on 19 October where we will show how this new feature in V15 will allow you to meet your legislative requirements to the ATO. Register here to reserve your slot.