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CASHBOOK® 2020.1.1.0 UPGRADE NOTES

     
   

The latest version of Cashbook® Connect, designated V2020.1.1.0 will be available from 10.30 (AEST) TOMORROW, Tuesday 29th September 2020.


This update supports Single Touch Payroll (STP) reporting of employee payments under the extended JobKeeper program. 

     
The Commonwealth Government has announced it is extending the JobKeeper program. The program,  originally due to run until 27 September 2020, will now continue until 28 March 2021.

The extension of the scheme applies over two further quarters. It introduces lower payment rates per quarter than the initial JobKeeper Payment rate and a tiered-rate approach, based upon average hours an employee has worked per week (against a specified reference period).  

Quarter 3 (28 September 2020 to 3 January 2021) comprises 7 fortnights of:

  • Tier 1 - $1,200 per fortnight for those working 80 hours or more; and
  • Tier 2 - $750 per fortnight for those working fewer than 80 hours.

Quarter 4 (4 January 2021 to 28 March 2021) comprises 6 fortnights of:

  • Tier 1 - $1,000 per fortnight for those working 80 hours or more; and
  • Tier 2 - $650 per fortnight for those working fewer than 80 hours.

The definitive source for information regarding changes to the JobKeeper program is the Australian Tax Office (ATO) website.   A handy fact sheet for employers from the ATO is also available here.


The ATO's preferred mechanism for reporting payments under the JobKeeper program is STP.  JobKeeper payments may be reported via the payroll function in Cashbook® and associated STP portal in the normal way. They must be reported according to specific classification of those payments as an Allowance and with a specific ATO-defined code. The Knowledge Base article mentioned below provides more information.  

     

Knowledge Base

A knowledge base article is available to help guide you through the STP reporting for the extended Job Keeper program using Cashbook® Connect.

     

PLEASE NOTE: 

  • The JobKeeper payment is a complex government-funded program. For further technical advice regarding  eligibility, reporting processes, employee situations, payment treatments etc, we ask that you discuss these with your financial professional or contact the ATO.
  • The ATO has made available an extensive FAQ guide to provide you initial assistance. 
  • Practical Systems Support can help you with how Cashbook® provides correct reporting to the ATO.  
  • If you share you Cashbook® data/company files with another user(s) on a different device,such as your accountant, that user will also need to upgrade the program in order to share/see your data. 

     

Implementation Instructions 

Effectively immediately, all Cashbook® users will be able to access the download to update their software. Upon opening Cashbook® you will be prompted that there is an upgrade available with a box like this:

https://campaign-image.com/zohocampaigns/418033000007375004_zc_v11_m1.png

NB: If you do not get this prompt upon opening Stockbook, go to the Help tab in the main menu bar at the top of the screen, select Help, then select Check for Upgrades.   

Click 'Yes'. 

As the download proceeds, a box like this will appear:  

Cashbook Screen two

Once completed, the following box will appear. 

 Important: When you see this you must first close your Stockbook program and then click OK. 

https://campaign-image.com/zohocampaigns/418033000007375004_zc_v11_m3.png

For more information, please email support@practicalsystems.com.au or call 1800 624 688

     

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Email sent by Practical Systems : 121 Allingham Street, Armidale, NSW, 2350
Phone Number: 1800 951 855, email: support@practicalsystems.com.au,