The initiative is set to expand the distribution of IPA Books+ to all IPA members and provide every public practice member with five cloud accounting licences, or “books”.
Accounting software provider Reckon and the IPA have been in partnership since 2018 when the two companies announced the introduction of IPA Books+ — a white-label version of Reckon’s flagship cloud accounting product, Reckon One.
IPA chief executive Andrew Conway said the continued move to the cloud is a key focus of IPA members and the SME community they serve.
“The IPA and Reckon are committed to ensuring small business has access to cloud accounting solutions to facilitate a transition to online accounting, Single Touch Payroll compliance and facilitate enhanced efficiencies,” Mr Conway said.
“By providing five books per IPA practice, we hope a small business that is currently outside the cloud considers contacting an IPA practitioner to take advantage of this partnership.
“Recent updates from the ATO suggest that over 35 per cent, or roughly 300,000 businesses, that employ staff are yet to adopt online accounting, which is required to submit payroll information to the ATO as part of the upcoming 1 July 2020 Single Touch Payroll deadline.”
Reckon CEO Sam Allert said the strengthened partnership with the IPA delivers a compelling proposition to public practice members and their clients.
“The bundling of accounting software as part of the membership helps the IPA with its stated purpose of enhancing the life of small business, which includes more than 75 per cent of its member base being involved in small business,” Mr Allert said.
“These bundled software benefits will also be enjoyed by members of the Institute of Financial Accountants (IFA) in the UK, aligning to Reckon’s expanding presence in this market.”