GovReports extending its SBR online compliance lodgment service to corporate sector
Posted on 06 May 2014GovReports
is extending its online compliance lodgment services to the corporate sector.
is Australia's leading XBRL and Standard Business Reporting (SBR)
products and solutions provider. Its application integrates with various finance, payroll, tax and ERP software typically used by small & large, international and multi-national corporations to provide them with the capability to lodge compliant reports simply and accurately with ease of file upload or direct access from the software.
This will enable companies to make significant gains in cost efficiency, time and resources.
Director, Tiana Tran
is pleased with the integration with Thomson Reuters ONESOURCE
Indirect Tax for Australia as the development will provide further options to corporates to report to Government online.
"As we know, successive Governments talk constantly about cutting red tape and reducing costs for business. Our product and solution is leading the way in helping realise the Government's red tape reduction agenda.
Through streamlining business reporting to Government, which is still heavily manual and labor intensive, business will save time and money.
In 2012, the Australian Productivity Commission estimated potential benefits of SBR to business, under the program's initial financial reporting scope, to be in the order of $500 million a year based on 60 per cent take up."
"We now have successful integration
with a number of popular accounting and financial packages used by businesses and their advisers," Ms Tran
"Lodgment reports and receipts are accessible for five years
to help companies meet retention and auditing requirements."
Businesses can now take advantage of the integrated applications and be able to lodge IAS/BAS
in real time. Their lodgment data is securely stored, encrypted and backed up across multiple servers for up to 5 years which is required by ATO if in case of auditing..
cloud based lodgment portal allows AUSkey holders to easily submit reports to the ATO from a wide variety of web-enabled devices. Information is prefilled from the ATO as well as from software packages, with online accessibility and easy to manage reporting and compliance process.
will continue to expand its new offerings throughout 2014.
Impact Management Group (eIMPACT)
is Australia's leading XBRL and Standard Business Reporting (SBR) products and solutions provider. A fast growing company, GovReports
is the company's leading product and it is leading the way in realising Australian Government's red tape reduction SBR
Program with the largest collection of SBR forms in the market to date. A strong commitment to XBRL and SBR technologies within the organisation, GovReports
is positioning itself as a technology leader by continually building and providing innovative management solutions to the Australian market and beyond.
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