MELBOURNE, AU – August 15th 2016 – Australian accounting firms are likely aware that the Standard Business Reporting (SBR) will soon replace the electronic lodgement service (ELS). The SRB-enabled practitioner lodgement service (PLS) will be the primary and default lodgement channel for Tax Time 2016. In order to ensure that accounting professionals will have access to a reliable electronic lodgement service during this transition, the Australian Taxation Office has announced that it extend access to ELS until March 31 2017. This extension will provide a safety net for accounting professionals while they make the necessary upgrades to their current software.
Ensuring that a firm’s accounting software is up-to-date and compliant is absolutely vital to continued best practice. SRB will be a required tool used by firms to send data and reports to the ATO and for interactions with other government agencies. SBR-enabled software will also grant tax professionals the ability to lodge to multiple agencies, rather than reporting to each agency separately.
SBR-enabled software has already been made available by software providers. However, for busy accounting firms, implementing these changes and ensuring the software and all of its functions are operating effectively can be daunting. This kind of software implementation can be optimised by consulting IT experts who have experience in servicing the Accounting sector in particular. This can not only eliminate potential challenges, but improve the overall efficiency of software implementation in any given firm.
The experts at Steadfast Solutions are the trusted IT partners and consultants for numerous Melbourne accounting firms. Their team helps to ensure the transition from ELS to SRB goes smoothly for their clients in the sector by helping to determine which products are registered and which are not, and evaluating your current system in order to help optimise reliability and productivity while also confirming compliance. Steadfast Solutions offers a comprehensive range of services to clients in the accounting industry such as data backup and recovery, industry leading firewall technology, data storage options that assist with compliance to data retention regulations, and top-notch support for industry-specific software such as MYOB, Xero, HandiTax and QuickBooks.
If you’d like to connect your business-minded audience with more information regarding the transition to SRB and how Steadfast Solutions can offer expertise to assist with the switch, please contact General Manager, Craig Jacotine.
ABOUT STEADFAST SOLUTIONS
Steadfast Solutions provides strategic advice, support and solutions for small to medium-sized enterprises. Through proactive and preventative measures, we maximise the uptime of business-owner’s IT infrastructures to keep business running efficiently. By striving to deliver a service that focuses on the following core priorities, Steadfast Solutions provides business owners with an unparalleled IT experience.