CHARTERED ACCOUNTANT'S NEWS & VIEWS
An accounting knowledge database
There has been a lot of publicity about payday filing and as we approach the 1 April 2019 deadline we suggest doing the following:
We will be in contact in the New Year with further information as payday filing develops further.
In summary, for payday filing, from the 1 April 2019 employers must:
The ways to payday file are:
Recently we contracted the services of an ACC levy refund specialist, Arrowform Limited, to conduct a thorough review of all our clients’ ACC invoices for any refunds due.
For years, ACC’s complicated invoicing processes have resulted in many businesses and individuals being overcharged for ACC levies. Recently, ACC admitted in the media that they had incorrectly invoiced ACC levies to customers since 2002. They also said that they will be refunding these overcharges automatically to all affected customers. ACC have also admitted to incorrectly invoicing self-employed individuals.
Given ACC’s recent error admissions, we now want to thoroughly check all clients ACC accounts, and check for any other invoicing errors ACC have been making that can lead to refunds due to our clients.
Reviewing ACC’s invoicing, and identifying these overcharges, has always been difficult, which is why we have engaged Arrowform. They have developed a cost-effective process, using highly specialised tests and bespoke computer systems, to identify any overcharges made be ACC, that may result in refunds due.
Arrowform’s ACC account review system gets results – their review system has shown that 32% of companies and individuals that have paid ACC have been overcharged, with an average ACC refund due of $1,011. If you have ever paid an ACC invoice over the years, you could be due a refund.
Shortly, we will be contacting everyone that has an ACC account outlining the ACC account review process in more detail. We will be encouraging all those with an ACC account to participate in this opportunity to have their account thoroughly reviewed for any refunds due dating back to 2002.
To all our MYOB Banklink clients we are in the process of changing accounting software from MYOB Banklink to MYOB Essentials. We are doing this to future proof your accounting data as MYOB Banklink software is old technology and MYOB’s support has decreased as they will eventually no longer provide this software. This change will also mean we can take advantage of the many benefits MYOB Essentials has to offer such as:
We will be in contact with you soon to explain in more detail how this change will affect you.
“There is nothing more constant than change”—Heraclitus 535BC
While not meaning to imply that you are no longer capable of climbing our stairs, please feel free to phone and request an alternative arrangement. We can come out to you, or meet you downstairs if you wish.
We are just a call away!
Invoices & statements
In recent times we have emailed out to clients our quarterly newsletter, and annual questionnaires. If you wish to receive these documents by email, and you have not already received them electronically, please give us a call to arrange.
The next stage in this electronic process is , we intent to start emailing fee invoices and statements to all clients. We will shortly be sending a notice via email to confirm this change. Hard printed copies of the documents will still be available.
Your co-operation in this matter is appreciated.
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