Accounting software company Reckon has released a free Single Touch Payroll (STP) mobile app for small businesses.
Single Touch Payroll is a new system for employers to report tax and superannuation information to the ATO. From 1 July 2019 small businesses (19 or fewer employees) will need to report using STP. Large employers already have to use the system.
The ATO has been seeking technology solutions for micro-employers (4 or fewer employees) to use STP, as they might not be using bookkeeping software. The ATO maintains a list of no-cost and low-cost STP solutions.
The latest of these solutions is Reckon’s Single Touch Payroll Mobile App. Only one other solution currently available on the ATO’s list is free, with most costing $10 or less per month.
Reckon says its app is the “only purpose-built smartphone app that allows quick and easy STP reporting for small businesses”.
“The ATO registered app means small businesses can lodge STP reports on their smartphone, without the need for a laptop or desktop computer,” said Reckon.
“By giving customers a smartphone-based option, and using a simple and easy to use design, Reckon is improving the accessibility of ATO compliant STP software.”
The app is available on the Apple App Store and Google Play Store.
“Single Touch Payroll is widely considered as the biggest change for employers since the introduction of GST almost 20 years ago,” said Reckon CEO Sam Allert.
“Many microbusinesses are still doing ‘shoebox accounting’, while overlooking payroll software that can save time and money. This might be because they’re reluctant to digitise their operations due to limited capabilities, internet access, or cost.”
Reckon also has its Reckon One Payroll STP solution, for “unlimited” employees for $5 a month. Myob and Xero also have solutions already available.
Reckon says it will be releasing more mobile-first accounting solutions soon.