In the context of the new Australian legislation and evolution linked to the tax declaration to the Australian Tax Authority, called Single Touch Payroll, where the Payment Summary process is being replaced with the new Single Touch Payroll process, SpinifexIT has already started to work on a new solution to implement the necessary evolution to consider in line with the existing Solution Easy Payment Summaries.
Single Touch Payroll is essentially reporting of the employees earnings details on a per Pay Period cycle. It’s the digitisation of payment summaries to a continuous and ongoing process, with up to date, year to date figures by employee.
In late July, SAP released the new Single Touch Payroll to a limited number of Pilot Customers. As part of this release, SpinifexIT also received this functionality and over the last month and weeks we have been examining how it works and how to change and upgrade the Easy Payment Summaries solution to help you transition to the new Single Touch Payroll.
What is Easy Single Touch Payroll (Easy STP) ?
Easy Single Touch Payroll is SpinifexIT's newest solution. It reports the earning details of employees on a per Pay Period cycle. It is the digitisation of payment summaries to a continuous and ongoing process with up to date and year to date figures by employee.
(Read more here: Introduction to Easy STP)
What's new in Easy Single Touch Payroll?
SpinifexIT is modifying the existing Easy Payment Summaries solution to work with the new Easy Single Touch Payroll solution. New Cluster Tables and Single Touch Payroll Tables modifying existing Reconciliation Processes will be added, as well as checks and verifications that will help with the new per pay process. These new additional reports and reconciliations aim to help you transition to the easier and faster Single Touch Payroll solution.
Easy STP will fully support new pay and taxation laws to ensure that organizations remain compliant.
More related articles will be published within the Easy Single Touch Payroll (STP) section of our Help Center.
For existing Easy Payment Summaries customers:
If you are an existing Easy Payment Summaries customer, you will receive the new solution as part of your current annual software maintenance fees.
The Easy Payment Summaries solution menus will still be available alongside the new Easy Single Touch Payroll for the ability to easily reprint payment summaries for employees.
Over the next few months, we will announce our progress and more information regarding our new solution (more progress and information regarding the Easy STP will be announced, including the upcoming webinars and training to help your team in transitioning). Additionally, there would be webinars and training to help your team in transitioning.
Currently the Easy STP solution will be part of the release 2018.R3 and will be going through a Pilot testing. Once ready the new Solution will be made also available on the existing supported versions of SpinifexIT's solutions.
For more information about STP, go to the following links: