Quick Answer: How Does Reckon STP Work?

How do I use reckon STP app?

See the STP app in action.

Simply set up an employee, enter their Gross Pay, PAYG & superannuation info into the app from your pay run and send off your STP file to the ATO..

Is single touch payroll compulsory?

The ATO has followed through on plans to improve digitisation of tax reporting and returns, making it mandatory for all employers to use Single Touch Payroll from 1 July 2019.

What is STP enabled software?

STP is a government initiative that requires all employers to report payroll information to the Australian Taxation Office (ATO). … STP software automatically sends your employees’ tax and superannuation information to the ATO. STP helps employees, too. They no longer have to wait until EOFY to see their tax information.

What is STP enabled payroll software?

Single Touch Payroll (STP) is an Australian Government initiative which streamlines the reporting of tax and superannuation information to us. Using STP-enabled software, you send your employees’ salary and wage, tax withheld and super information to us each time you pay them.

How do I Finalise STP in Quickbooks?

Step 1: How to create a finalisation event Once that has been successfully lodged, you can begin the finalisation process: Select Employees from the left hand menu. Select the Reports tab and then select Single Touch Payroll. Select Start Finalisation Process.

How do I set up STP?

Set up STP to file for your clientsIn the Payroll menu, select Pay employees.In the message about Changes to the way you report payroll information to the ATO, click Get started. … Click Opt in to confirm.Review the organisation’s details. … Review your agent details for each practice.More items…

Is reckon STP free?

Send your STP file to the ATO for FREE with the Reckon Single Touch Payroll app. … Available on iOS or Android for no-cost, with over 1000 4+ star reviews, the STP-enabled app makes it easy & affordable to stay ATO compliant. Ideal for small employers, micro employers & small businesses with 1-4 employees.

Who uses single touch payroll?

STP started on 1 July 2018 for employers with 20 or more employees and 1 July 2019 for employers with 19 or fewer employees. If you haven’t started reporting through STP, you need to start reporting as soon as possible.

What does single touch payroll mean for employees?

The way employers report tax and super information to us is changing. This reporting change is called Single Touch Payroll (STP). … If your employer reports through STP, they will send us your tax and super information each time they pay you. We call this real-time reporting.

What is the best free STP software?

Payroller: Free cloud product (Android and iOS apps available) with unlimited payrolls and employees. Reckon Single Touch Payroll App: Free Android/iOS product. It only handles STP reporting – you must enter the details of your pay run. Could be useful if you do payroll on paper or spreadsheets.