Accounting and finance are one of the most highly regulated industries in Australia. Within these professions, the burden of compliance and reporting often fall into hands of bookkeepers, accountants, auditors and tax agents who are already overworked.
Industries create a language of their own. This mode of information exchange is used to easily share their thoughts regarding business transactions. Before, this form of communication is passed on through verbal jargon. At present, these jargon is converted into software to make corporate communication faster. These programs have been important in processing information needed within the industry.
Sydney, Australia 16th January 2012 -Impact Management Group, the leading provider of Standard Business Reporting (SBR) solutions announced the release of application programming interface (API) for their cloud SBR lodgement product – GovReports.
Simple. Quick. Fast! These are the comments we hear from our early adopters of GovReports. GovReports is designed to remove the drudgery of lodging your obligations. There is no software to install and update. No Microsoft frameworks or other updates to fiddle with. GovReports just works.
Standard Business Reporting (SBR) is an Australian Government initiative designed to reduce the business-to-government financial reporting burden. This follows on from a number of other initiatives including the Electronic Lodgment Service (ELS) that has been in place for several years. ELS will be replaced by SBR-enabled reporting in the near future.