STP Phase 2 made easy. See how we're supporting businesses with the upgrade and how we're developing the platform for the new reporting requirements.
It was a significant, transformative moment when the Australian Taxation Office (ATO) first introduced Single Touch Payroll (STP). Now they have widened the scope with STP Phase 2.
But no sweat - foundU is here to help! Our new transition tool is designed to make migrating to STP Phase reporting and compliance easier for our customers.
When using the foundU platform, you can find the tool in 'Payroll Settings'. Once there, you will have a complete overview of your progress towards STP Phase 2 compliance.
Required updates are handily categorised into:
- Employee information
- Allowances and pay items
- Overtime meal allowances
- Paid leave and deductions
Update existing employees by exporting your list of non-compliant staff to a CSV file, updating the required fields, re-uploading the CSV file and importing the data back in. Use the same process for updating allowances and pay items, and overtime meal allowances.
Hit 'Update' for paid leave to visit your payroll settings and confirm the correct options for paid leave entitlements. For deductions, you'll arrive at the 'Deductions' menu, where you can edit and update each as you need to.
For more about our STP Transition tool watch here.