Changes introduced by the ATO and Xero may affect how you conduct your bookkeeping practices.
The ATO Business Portal is being updated and from the end of March, AUSkey will no longer be available. Xero is also introducing a new software program included as part of the Starter, Standard and Premium Plan subscriptions.
These changes in the pipeline from Xero and the ATO may affect your current bookkeeping practices. The team at Robinson Voss Partners are busy learning new skills to help guide you through these new processes. Rest assured that by the time the changes come through – our team will be here to help.
Xero introduces Hubdoc
If you have a current Xero subscription on the Starter, Standard or Premium plan, Hubdoc, a new software program which reads your receipits and invoices, will be included as part of your subscription fees from 18 March 2020. The Hubdoc program has the capability to ‘read’ your receipts and invoices and extracts relevant information to upload directly into Xero. The Robinson Voss Partners team is in the process of testing Hubdoc and will be here to help if you decide to sign up. Please view the Hubdoc video to learn more and consider if Hubdoc is appropriate for your needs.
If you have a Business Portal with the Australian Taxation Office, it’s important to note that AUSkey will no longer be available from the end of March 2020. From this date you will need to log into your Business Portal using a myGovID (which is different to myGov). Please follow this link to start setting up your my Gov ID or visit https://www.mygovid.gov.au/ for further information.
The Robinson Voss Partners team has an inhouse training session with the ATO on 26 February to learn more about the process so we can assist our clients.
If you would like to discuss any of these changes and how it may affect your bookkeeping practices, we encourage you to contact us today on 03 9708 8801 or email firstname.lastname@example.org
General Advice Disclaimer: The information contained within this document is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Robinson Voss Partners (RV Partners) strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances.