Thousands of Australian businesses now SBR-ready this tax time
Thousands of Australian businesses now have access to Standard Business Reporting (SBR)* enabled technology developed by Reckon Limited to lodge payment summaries with the Australian Tax Office (ATO) this tax time.
Payment summary lodgement through Reckon’s SBR-enabled portal, Reckon GovConnect, has initially been rolled out to thousands of QuickBooks Hosted users across Australia. Reckon says customers are quickly embracing the new way to lodge, demonstrating the ever increasing value of their integrated online tools.
Saving time with pre-filled forms, quick validation from the ATO, being able to submit on behalf of clients and the ability to pre-lodge are some key benefits of Reckon GovConnect which is offered to QuickBooks Hosted users at no added cost.
“SBR forms an integral part of our drive to provide businesses, accountants and bookkeepers, with seamless ways to connect with one another, as well as other key stakeholders within the business eco-system, such as government agencies. By harnessing SBR, Reckon GovConnect connects users directly to the ATO to submit payment summaries within the QuickBooks Hosted environment, with real time validation and feedback messages being sent by both parties," said Gavin Dixon, Reckon Business Division CEO.
Reckon has plans to make payment summary lodgement through Reckon GovConnect available to QuickBooks desktop users next year. The accounting software provider is also forging ahead with more SBR-enabled forms flagging that the Australian financial services licensee profit and loss statement and balance sheet is already a fair way into the development process.
Notably, Reckon was the first accounting software provider to release SBR-enabled software in a commercially available accounting software program last year, with QuickBooks 2012/13 offering BAS lodgement through Reckon GovConnect.
The company says they’ve seen a steady increase in BAS lodgements through the Reckon GovConnect portal over the last 18 months and expects the numbers will rise in the year ahead. Further, the ATO has announced their plans to transition from Electronic Lodgement Services (ELS) to SBR from 2015.
“Our customers, both new and existing, are choosing online solutions, and as part of this they are recognising the flexibility and security our online environment provides. Recent tablet sales results and smart phone trends are key indicators that our online tools, including Reckon GovConnect, are becoming increasingly relevant to businesses and accounting professionals,” said Dixon.
QuickBooks Hosted users will need an AUSKey to submit payment summaries and business activity statements to the ATO via Reckon GovConnect. Users will note the Reckon GovConnect option is now available within QuickBooks when preparing submissions. Reckon has videos demonstrating the process on the website: www.reckon.com.au/govconnect