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We have had quite a few issues with the Taxable Payments Annual Report that is due only once a year. Mailny to do with Entity v Trading/Names on invoices. THe ATO require the Entity name and we mainly work wih the name on the invoice as these can vary dramaticaly as many are discretionay trust, family trusts etc. and the entity names have no association with the Trading Name used. Could MYOB alter the card file to include a field for the Entity Name with a tick box which links to reports that we can select if we need to do the Taxable Payments Annual Report and then a field that can be used for the everyday trading name. At present we pay over 1000 companies a month with 250 of these a year being our subcontractors and due to this missing in MYOB we will now have to manually enter and upload an excel spreadsheet making our MYOB reporting obsolete.
"Taxable Payment Annual Report - Card File Setup"
Thanks for your feedback on having the option to pick a different name for your taxable payments report. To see the demand for this idea to be added it would be great to see some community votes and comments on any additional changes along these lines.
This seems like a good idea - I have voted for it.
Yes I have the same issue with a Construction Industry client - not as many suppliers as Donna, but enough to make the TPAR a real headache is our software can't accommodate the requirements of the ATO. The instructions issued by the ATO in 2013 didn't specify that the legal name, which I pointed out to the ATO staff member who visited me a couple of months ago regarding the "errors" in the TPAR report I lodged electronically. I hope, at least, that the instructions issued for 2014 clearly specify that the legal name and not the trading name be used.
Head in the Cloud SA
Building Construction Industry
After the Taxable Payments Reporting at EOFY 2013, I had an ATO representative visit my office to clarify further the names and abn of subcontractors
This was due to setting up the supplier card as a subcontractor using their trading name and not registered name i.e. Astro Fabrications as a company NOT Astro Fabrications Trustee For The Wilson Family Trust, which does not fit in the allocated characters
ATO Rep suggested when creating supplier cards to nominate the 'Designation' Field as an Individual not a company. To then allow for the 'Last Name' as ' Astro Fabrsications Trustee for' then 'The Wilson Family Trust' still this does not fit in the allocated characters.
This is difficult when needing to search/find transactions with the supplier cards under different names
With this EOFY 2014 approaching and it being a mandatory reporting process resulting in fines for incorrect data or not reporting, I would of thought this topic would of come up and MYOB made adjustments to the Supplier Card Data Fields, so the ATO and can source the correct details without coming to my office and fining our company through no fault of ours, because they can not put 2 and 2 together.
Yes something needs to be done about having both the entity name as well as business name available on MYOB. I would have thought it would have been done by now considering it is an ATO requirment to have the name on the TPAR report match the ABN registered name. This is going to be one large headache.
Been on the phone to MYOB re reporting taxable reports......absolutely useless...... told to download new version 2014 - does not fix problem regarding Entity name needing to match ABN registration for the ATO. Also Allocated memo which I use for reports and was in the old version but missed off the new version is still not fixed after 9mths..... I have now spent over 2 hrs on the phone and downloading new version only to find it is a waste of my time.....thanks very much.........I have to wonder why I bother paying the monthly fee for mostly absolutely poor service.
Thank you for you feedback.
I understand that you would like to have the option to record both the Trading as well as Legal name on the Supplier card, so that the Legal name can be selected in the TPAR.
My understanding of the matter is that at present the ATO's website does not specify that the name on the TPAR has to the registered name. Given that a valid ABN for the Supplier is required, it would mean that the ATO would have access to the full details of the Supplier based on the ABN.
Having said that, the matter has already been brought to the attention of our compliance specialist and we are currently awaiting further clarification on the matter from the ATO.
We will keep you posted once we have more information on the topic.
With reference to the Allocation memo information not appearing in the Jobs transaction report, unfortunately this is still being looked into by our product development team. I'm sorry for the inconvenience caused by this.
Ditto Leigh H's comments. I too have a client in LeighH's comments. I also have a client in the Building and Construction industry and we recieved a visit from the ATO based on the TPAR report we lodged for 2013. The majority of the recommendations from them related to Supplier names as recorded by us in MYOB not matching the legal entity names as recorded in the ABN register. The functionality to record both and report the correct name on the TPAR would be much appreciated by us. Hopefully we'll see it in time for the 2015 report???
Many of our companies have a different company name to their trading name, and it's really confusing (especially for new staff) to find accounts when we use their trading name and they can't find them on our system.
Any chance a 'trading as' box can be included which would also show up on searches under card file?
We would love to see two lines for NAME on the card file. One for the registered business name and one for the trading name. When searching we would prefer the Trading name to come up. The registered business name is required for the REPORT TAXABLE PAYMENTS.
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