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SWITCHING TO ONLINE CHECKOUT WHAT YOU NEED TO KNOW

SWITCHING TO ONLINE CHECKOUT

Currently, to simplify the use of cash reporting and tax accounting, entrepreneurs can use an online cash register.

Online cash registers and what are they for?

The online cash register is a cash instrument designed in compliance with the latest requirements:

  • Issuing a QR code on the receipt.
  • Providing a check online to the consumer and OFD.
  • The fiscal drive is designed in a case built into the product.
  • It is possible to use with OFD, which is accredited.

These requirements have been basic for all cash registers of the company.

The use of this type of apparatus has its advantages for small businesses:

  • The risk of a tax audit is significantly reduced, as the transparency of all company operations is increased;
  • The costs of accounting control for the Tax Agent in Melbourne service are significantly reduced since now your business is as open as possible and does not raise doubts with the Federal Tax Service. Thanks to this factor, you will save your nerves and time.

Stages of transition to online cash registers

The Government of the Australia Federation has established the following official stages of the transition to online cash registers:

  • The first stage is conclude in the period up to July 1 of the current year. From this period, the voluntary use of this device is introduce.
  • The second stage began on February 1 and ends on July 1, characterized by the transition to the cash desks of this type without fail. Tax inspectors will not register devices without these requirements.
  • The period from 1 July. The main organizations are oblige to use the new cash desks, except for enterprises prescribed by law.

What organizations need to do to prepare for all the changes

In the process of starting to use a new device, you must go through the following steps:

1. Analysis of the possibility of upgrading, to the established requirements, of existing equipment.

This analysis includes an analysis of the effectiveness of refining your equipment (if there is a possibility of refining) and the optimal use of this method.

Read Extra: Get the Best Accounting Software In Dubai At Bestaxca

In most cases, modifying the cash register is much more expensive than purchasing a new device. Specialists will analyze the service market and provide you with data on the average cost of revision and the effectiveness of its use.

2. Checking the selected equipment in the register of the Federal Tax Service:

  • Apparatus analysis.
  • Analysis of fixed drives.

3. Drawing up a detailed schedule for replacing the cash register.

If your device expires, you should immediately switch to a new device, as this will reduce financial costs in the future.

4. Internet.

A stable Internet signal is a key to the correct operation of the cash register. Specify the most optimal Internet connection option for you.

5. Updates for the device.

If you use a device with software, specify the need for its update and the possibility of improvement. Provided that all data are available, determine the timing of the start of the use of new equipment.

6. Removal of the old device in the Federal Tax Service.

To deregister the device, you must write an appropriate application and apply it to the tax authorities. You will have a document confirming the deregistration of this equipment.

7. Choice of OFD and conclusion of the contract.

This agreement is binding and is an online offer that you enter when registering on the site. The advantage of using this service is the absence of the obligation to draw up documents and submit them to the relevant authorities.

8. Registration of cash desk online.

Registration can be carrie out in two ways: standard and electronic.

Read Other: HOW TO RESTORE ACCOUNTING?

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