Taxable Payments: Sub-contractor details on report

Maria_13

Okay, I will have over 200 statements to supply as at end June 2013 - currently the only assistance MYOB gives me is a Report of taxable payments with an amount and an ABN number, no name, no address. These then need to be transferred by hand onto the ATO's form, so I need to find out who's is the correct ABN and complete over 200 statements, sorry I can do nine to a statement according to the sample form provided to the ATO. So once I have written all these out, there is not even a report available that summaries all the statements, you need to create your own list if you want a summary, or reprint them all and save them in ABN order so you may have some sort of audit trail.

Can you not make available a report that captures all the information, maybe if you could have "Report on Taxable Payments" field available within the card lists that could be a starting point, at least then I could print a list of who has this field active.

Anyway just hope there will be a fix before June 30, I do understand that maybe you need to delay the process until the ATO had formalised the Annual Return, but I did notice that they have available online submission from July 2013, which is when these Returns need to be lodged.

Thanks for listening

"Report of Taxable Payments"

Watermum01

Also where we receive one supplier invoice for multiple jobs, we can split this in the invoice entry screen, but if one job is not reportable I have to enter a new invoice just for to differentiate reportable from not reportable. Costing me twice the data entry time, can you provide taxable reporting tick also at line level in invoice details table. To be honest it's a lot simpler to pull out txs by account code for reportable jobs and mark them all as reportable than via supplier card or entry of individual invoices. In fact if I could just indicate all invoices from subcontractors account code on x job are reportable it would save me entering it on each invoice separately AnD allow me to separate private from commercial and quite probably remove reconciliation issues!!

David_Cree

Hello Tiffany,

I am not sure that you are correct on stating that TPAR does not include private contracts. I am not aware of any differentation by the ATO. Where can I find more details?

Have a look at these ATO websites.

https://www.ato.gov.au/Business/Building-and-construction/In-detail/Taxable-payments-reporting/Taxab...

Cheers

David

David_Cree

Hello Tiffany

I have been looking a bit further an on this ATO website

https://www.ato.gov.au/Business/Yearly-reports-and-returns/Taxable-payments-annual-report/What-to-re...

where it says the following -

Private and domestic projects

You don't need to report if you are a home owner making payments to contractors for building and construction services – for example, if you are building or renovating your own home.

Cheers

David

JasonHill

Hi @Watermum01

Welcome to the Community Forum. I hope you find it an invaluable resource for getting the most from your software.

I trust the prompt responses you have received from David are useful to you. Please post again if you need further assistance or anytime you need help.

All the best,

Jason Hill
Community Manager

Watermum01

Hi David and Jason,

Thankyou for your comments. No it hasn't addressed the issues I raised. My focus is on raising improvements for myob to better support business reconciling transactions back to profit and loss subcontractor totals ( this would be 'good' practise). It's easy to push the tpar button... Doesn't mean it's right! We need to be able to quickly see if we have forgotten to tick a transaction as reportable ( you won't find that in the tpar it just lists what you ticked). I would like to see:

job transaction detail report and account transaction detail report include reportable.

Note we record private txs on accountants request it has nothing to do with tpar, but you need to exclude these from tpar hence need better reconciliation functionality!!

David_Cree

Hello Tiffany,

Thanks for the response.

I agree that it would be great to be able to run a purchases or job report that can also show if it has been'ticked' for TPAR.

There is however a way to get a report that will show what Suppliers have had the Report Taxable Payments ticked by exporting from the card and opening in excel.

To do this folloe these steps.

1. Go to File / Import export assistant ( of just export in v19) & select export data.

2.In Data Type select Cards and Supplier Cards.

3.In Format select Tab Delimited and include Headers.

4.In Select Fields add the Supplier name and Report Taxable Payment & any other fields that you want. Click Export

6. Name & save the text file somewhere that you can find it again.

7. Open Excel then open the saved text file, and you have a report that showd which Suppliers you have ticked Report Taxable payments.

I hope that helps.

While i understand that you want the reporting to be correct, i am of the view that i would rather OVER Report than under report. i am not aware of a penalty for over reporting but sanctions could apply for under reporting.

The ATO says in relation to Private and domestic projects

"You don't need to report if you are a home owner making payments to contractors for building and construction services – for example, if you are building or renovating your own home."

so unless the work is on your own home, then any payments for Building & construction contractors must be reported regardless of whether they are commercial projects or home building contracts. After all it is those contractors who the ATO is after. in my experience the "cash" economy is probably more rife in the domestic area than in the commercial - think painters or plasterers who do not report all their earnings.

Regards

David

Watermum01

Thanks David, you've got a lot of great advice. This tip would certainly help businesses who can just report on all txs entered for a supplier. Above you say ' unless you are building your own home' well that is us. I've now confirmed with the ATO that because we as 'home owners' have engaged my husbands business to build our private home, the invoice we pay as home owners to husbands business for private build is not reportable, but the invoices he pays as a builder to subcontractors, to build the private home is reportable- the distinction is based on who it's making the payment. When he is paying subcontractors he is paying as a 'builder' not a home owner.

As a result I'll now need to go back in and tick all txs for the job to be reportable. Is there a bulk or quick way of doing this? Thanks

Emile

Hi @Watermum01

I'm glad to see David has been a big help.

There is a way to bulk select payments to be reportable. This is done by going to the Supplier Card > Buying details. Tick the "Report Taxable Payments" option then click yes to report all existing transactions.

If the option is already ticked, just untick it and then tick it again.

Watermum01

Thanks Emile,

I used this solution last night to update all tx's for all subcontractors as reportable. I then reconciled it back to the subcontractor account codes in the Small Business- P&L CASH Report (because we are accrual) and I balance...much easier now I can report all tx's. Thanks very much for your help.

I would still like MYOB to consider listing 'trading name' as a new field on supplier cards. I mentioned it earlier, we get alot of invoices from subcontractors who are individuals using their trading name. The TPARs requires the individual name, I only find this out with an ABN Look up. Then if I use that in the supplier card it's difficult to recognise them when I get the next invoice (as again they are using their trading name and don't show individual name). Is it possible to get that looked at?

Regards,

Tiffany

Suja_P

Thank you for the update, Tiffany (@watermum01). Glad to hear that Emile's suggestion helped.

As for your request to be able to have both Trading as well as Legal / Individual name in the Supplier card, this has been raised with our compliance specialists to look into.

I would appreciate you taking a moment to vote and add your comments on an existing Idea Exchange post on this.

http://community.myob.com/t5/AccountRight-Idea-Exchange/Taxable-Payment-Annual-Report-Card-File-Setu...

Please do post again should you have any further queries.

Regards,

Suja
MYOB Support