It's Big Awesome Savings time
75% OFF FOR 6 MONTHS*
Need help choosing a plan?
Created with Sketch. 1800 917 771 Schedule a call
Need help?
We're here for you.
Schedule call
Created with Sketch.
Image alt Text
product update

A simple guide on how to review transactions before TPAR lodgement

As a small business owner or a financial advisor for a small business, you have many compliance reporting tasks on your to-do list this tax season. If you or your client happens to be in the construction industry, we know you have one more reporting requirement to cover for the Australian Tax Office – TPAR, or Taxable Payments Annual Report.

This year, we’ve made a few enhancements to the ‘Transaction List by Supplier’ report that we think will really simplify your TPAR reviewing and lodging process.

By following these simple steps, you’ll be able to review and lodge this year’s TPAR effortlessly.

Step 1:

First click on ‘Reports’ on the left navigation. Next, search ‘Transaction List by Supplier’ in the ‘Go to report’ search box.

Step 2:

Go to the ‘Transaction List by Supplier’ report, and select the right date range. Then click ‘Run report’.

img2

Step 3:

Click the report’s gear icon to customise the report by adding a few columns. Add ‘Split’, and ‘Tax Amount’. Then click ‘Reorder columns’ to organise the columns in the way you want.

img3
img4

Step 4:

You can now review all the transactions grouped by supplier in one place, and immediately see what transactions are included in TPAR.

img5

As you can see in the example report above, an expense with split accounts isn’t included in TPAR. Split transactions normally mean they have multiple cost components and require some more checking. So let’s click into this transaction to see the transaction details.

img6

It looks like this transaction has two components: ‘Cost of Labour’ and ‘Equipment rental’. According to ATO recommendations, an expense paid to a TPAR supplier needs to be included in the TPAR report if it has labour cost. Because this expense isn’t ticked for TPAR, we would need to correct it.

img7

Step 5:

Click ‘Save and close’ to return to the ‘Transaction List by Supplier’ report. You can see that the new change is saved.

img8

Bonus: You can also check whether GST amounts are properly recorded if you add the ‘Tax Amount’ column to this report. In this example, the first transaction doesn’t show a tax amount, although it should. This was corrected by clicking into and editing that individual transaction.

img9

Step 6:

Once you finish reviewing the transactions and feel confident about how the transactions are recorded in QuickBooks Online, proceed to running the Taxable Payments Annual Report (TPAR) for this year’s lodgement.

Now you have it. It’s your turn to try the process yourself.

Let us know if you have any feedback or additional suggestions to share.

To read more articles related to product updates, visit here.


Related Articles

Looking for something else?

Get QuickBooks

Smart features made for your business. We've got you covered.

Help Me Choose

Use our product selector to find the best accounting software for you.

QuickBooks Support

Get help with QuickBooks. Find articles, video tutorials, and more.

Stay up-to-date with the latest small business insights and trends!


Sign up for our quarterly newsletter and receive educational and interesting content straight to your inbox.

Want more? Visit our tools and templates!

By signing up you are agreeing to our terms and privacy policy.

A person is smiling and holding a laptop.