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Cloud based and still spending hours managing ATO documents? Industry innovators team up to help you make light work of tax correspondence

2 minute read object(stdClass)#16740 (8) { [ image intro ]=> string(49) images/bulletin-ops/ATOmateFYI announcement 1.png [ float intro ]=> string(0) [ image intro alt ]=> string(0) [ image intro caption ]=> string(0) [ image fulltext ]=> string(0) [ float fulltext ]=> string(0) [ image fulltext alt ]=> string(0) [ image fulltext caption ]=> string(0) } Business Automation Works A A Managing ATO correspondence can be a clunky and cumbersome task. It’s a process that requires meticulous care and can take hours away from your administrative and accounting teams each day, but thanks to ATOmate accountants can now process, check, and distribute ATO documentation from the tax office to their clients in a matter of minutes. Upon receipt of ATO documentation by mail or via the ATO Tax Agent Portal, ATOmate sorts all correspondence, checks if it matches against an estimate from the practice management ....

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ACCC gives green light to MYOB's acquisition of GreatSoft

ACCC gives green light to MYOB's acquisition of GreatSoft
accountantsdaily.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountantsdaily.com.au Daily Mail and Mail on Sunday newspapers.

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MYOB's acquisition of Sydney ISV GreatSoft gets go-ahead from regulators

Australian accounting software vendor MYOB has been given the go-ahead to acquire Sydney-based ISV GreatSoft.
The Australian Competition and Consumer Commission (ACCC) announced it won’t oppose the deal as it found the transaction is not likely to substantially lessen competition.
The decision comes more than a month since the ACCC expressed concerns about the acquisition, particularly about the competition in the accounting software market, as both companies supply practice management software to medium-to-large accounting firms. MYOB first announced the acquisition in October 2020.
The ACCC said its investigation focused on GreatSoft’s potential to grow into a strong competitor following a number of recent customer wins since launching in 2019, including some medium-to-large sized and even some MYOB customers. ....

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ACCC gives go-ahead for MYOB's acquisition of GreatSoft

ACCC gives go-ahead for MYOB s acquisition of GreatSoft
Watchdog vows not to oppose accountancy ISVs merger.
Credit: ID 128097572 © Jarretera | Dreamstime.com
Australia’s competition watchdog has stated it will not oppose a merger between two local accountancy software vendors.
The Australian Competition and Consumer Commission has effectively given the green light for MYOB to acquire GreatSoft.
The ACCC had investigated whether GreatSoft had the potential to grow into a strong competitor, given that it had succeeded in winning a number of medium-to-large customers, including MYOB customers, when it first launched its product in 2019.
However, the watchdog concluded that GreatSoft will likely face challenges expanding its small customer base in the short- to medium-term if the acquisition does not go ahead. ....

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MYOB's acquisition of GreatSoft not opposed

Date Time
MYOB’s acquisition of GreatSoft not opposed
The ACCC will not oppose MYOB Invest Co Pty Ltd’s acquisition of GreatSoft Pty Ltd, finding the transaction is not likely to substantially lessen competition.
MYOB and GreatSoft both supply practice management software to medium-to-large accounting firms. MYOB offers desktop practice management software, and GreatSoft offers a cloud-based solution.
The ACCC’s investigation focused on GreatSoft’s potential to grow into a strong competitor, given that GreatSoft had succeeded in winning a number of medium-to-large customers, including MYOB customers, when it first launched its product in 2019.
However, the ACCC concluded that GreatSoft will likely face challenges expanding its small customer base in the short to medium term if the acquisition does not go ahead. ....

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