The Australian Taxation Office (ATO) has made it mandatory to report payments to subcontractors who provide construction services to businesses. Details about this can be found on the ATO website. To ensure compliance with this legislation, Viewpoint has developed integrated functionality that facilitates the collection, review, and reporting of payments made for services provided to your business.
In this user guide, we will learn more about some of the activities that you might perform on a daily basis, tag invoices that were already paid during the tax year before you installed this function, making payments for invoices that are eligible for taxable payment reporting, and preparing reports that you need to send to the Australian Taxation Office.