Glossary¶

Key terms used in myaccountant.

Term	Definition
BAS	Business Activity Statement — quarterly report to the ATO for GST and PAYG
STP	Single Touch Payroll — digital payroll reporting to the ATO after each pay run
PAYG	Pay As You Go — tax withheld from employee wages
GST	Goods and Services Tax — 10% tax on most goods and services in Australia
ABA	Australian Bankers' Association file — bank payment file format for bulk employee payments
ABN	Australian Business Number — 11-digit business identifier
TFN	Tax File Number — individual tax identifier
USI	Unique Superannuation Identifier — identifies a specific super fund/product
CDR	Consumer Data Right — Open Banking framework for secure bank data sharing
SBR	Standard Business Reporting — digital channel for lodging BAS/STP with the ATO
Super	Superannuation — mandatory retirement savings (currently 12% of ordinary time earnings)
EOFY	End of Financial Year — June 30 in Australia (financial year runs July 1 to June 30)
Chart of Accounts	The complete list of financial accounts used in your business
Journal Entry	A double-entry accounting record that debits one account and credits another
Reconciliation	Matching bank transactions to recorded entries to ensure accuracy

Auto-generated from myaccountant knowledge base.

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