The NetSuite financials, ERP and commerce cloud software is now ready to use Standard Business Reporting (SBR) for lodging returns with the ATO via a new application.
Later in the year, GovReports SuiteApp will be able to extract payroll data from the Infinet Cloud Payroll SuiteApp to complete IAS and BAS reporting and lodgement.
Since the ATO's old Electronic Lodgement Service (ELS) is being decommissioned in a year's time, businesses will need to switch to SBR for online lodgement.
Mark Troselj, vice president and general manager for ANZ at NetSuite, said "we have partnered with the leading taxation reporting experts to introduce a fully integrated solution so our customers can securely, efficiently, and accurately report into the ATO and meet its compliance obligations. The GovReports SuiteApp will help our customers keep fully up-to-date with any changes to taxation reporting requirements in Australia, and is therefore a truly advantageous addition to our cloud platform."
GovReports already lodges between 5,000 and 12,000 Business Activity Statements every month on behalf of businesses and accounting practices, making it the leading provider of such services.
"Our partnership with NetSuite significantly streamlines the preparation and submission of BAS reporting and compliance submission to the ATO, as there is no need to create electronic files of reports or log into a separate portal to lodge them," said Tiana Tran, director of GovReports.