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Are you STP ready? How do you setup STP in MYOB?

As you are aware, STP reporting becomes a law for all employers from 1 July 2019. Most our clients are in the cloud and we have explained in previous article what the procedure is for Xero accounting software.

To set up STP reporting in MYOB, you will need Account Right Plus or Premier version first.

How do I report payroll in AccountRight?

Before you report Single Touch Payroll amounts, you need to:

  1. Check that your company information and employee details meet ATO requirements,
  2. Assign an ATO category to all your payroll categories.
  3. Connect your MYOB software to the ATO.

Once connected, your payroll information is automatically sent to the ATO when you process payroll in AccountRight.

What you need to set it up

  • You need to be connected to internet
  • Your employees’ addresses and their valid tax file numbers
  • Your company’s ABN, branch code and address
  • list of payroll categories that you need to report to the ATO (check with your advisor if you’re unsure)
  • Your MYOB account sign-in details
  • An AccountRight subscription for each company file you want to set up.

Check your payroll details

  1. Go to the Payroll command centre and click Payroll Reporting.
  2. Click Check Payroll Details. The Check Payroll Details window appears listing the results. Employees paid in the current payroll year (including terminated employees) are included in the payroll check.
    Getting an error saying “AccountRight can’t do this now”?
    If you’re using AccountRight Server Edition 2019.1, you’ll need to install .NET Framework 4.7.2 on your server.Once installed, a restart is required for the changes to take effect, so you may need to organise an appropriate time for this to take place. (Yes, there is a reason why we recommend cloud based solutions whenever appropriate, as the process is way easier!!)

    After clicking Check Payroll Details, you’ll see a list of items you need to fix before you can connect to the ATO and start reporting using Single Touch Payroll.

    Connect to ATO

  1. Go to the Payroll command centre and click Payroll Reporting.

  2. Click Connect to ATO.

    If this button says Payroll Reporting Centre, you may have already gone through the connect to the ATO process.

  3. If prompted, click Check Payroll Details to fix any issues with your payroll setup.
  4. Follow the prompts to complete the ATO connection.

 

What happens after you have set up Single Touch Payroll reporting?

Once you’re set up, your payroll information will be automatically sent to the ATO the next time you process payroll.

You’ll know you’re set up when you see the following message in the Pay Period window (Payroll > Process Payroll).

When you click Record to record a pay run, you’ll be prompted to declare and submit the information to the ATO.

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