Online accounting software and Single Touch Payroll

You can consider the likes of MYOB, QuickBooks and Xero, but bear in mind that they can cost up to $600 per year, along with counting your own time which has an opportunity cost likely of around $80 an hour. A cost-effective approach would be to visit your local TaxAssist Accountant and you will only need to upload pay on Single Touch Payroll quarterly rather than weekly if you do it on software. At TaxAssist Accountants, we can do your books and payroll, so why be up at midnight keying in pay and books. You can be far better off sleeping well and working hard the next day, as we make life simple and do it for you.

By Terry Murphy CPA

Date published 14 Jan 2019

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.