Ahead of the fast-approaching Superstream deadline for small businesses, accounting software provider Reckon has announced a new partnership with a big four bank.
Reckon has joined forces with NAB to provide its accounting software customers with NAB Super Pay.
NAB Super Pay has been established as a SuperStream gateway provider for Reckon customers to ensure businesses are compliant with the government’s SuperStream legislation.
Reckon said that for the majority of employers, self-managed super funds and APRA-regulated funds are required to become SuperStream-compliant by 30 June and the introduction of NAB SuperPay will give businesses the tools to do so.
Reckon Limited CEO Clive Rabie said the partnership with NAB has made it easier than ever for businesses to become SuperStream compliant.
"Our approach to the SuperStream legislation was to provide customers with an integrated and streamlined approach that had minimal impact to their day-to-day business activities," Mr Rabie said.
"Our partnership with NAB and the NAB Super Pay solution allows business to enjoy the efficiencies and time savings of paying superannuation contributions electronically as well as piece of mind that they are meeting Australian Tax Office requirements and that their employees' superannuation is being paid.
"Businesses that do not comply with their SuperStream obligations could face ATO penalties," warned Mr Rabie.
"As a payroll software provider, it is vital that we help our customers and partners meet their superannuation obligations. Our software meets SuperStream regulations, complies with Australian Taxation Office data requirements and is backed by robust reporting to easily view and track contributions," Mr Rabie said.
NAB transactions products and payments general manager Deanne Keetelaar said the new integrated solution means that employers can cut down on administrative processes and receive more time to do what they do best – running their business.
"By minimising the impact of compliance for employers, we are enabling a more effective and efficient way of doing business," he said.
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