D&B D-U-N-S Numbers and GST Compliance
Dun & Bradstreet has developed a solution
for Australian companies to ensure their customer and vendor files are
optimised for the new Goods and Services Tax (GST) identifier, the
Australian Business Number (ABN).
On 1 July 2000, the most significant
overhaul of the Australian taxation system will take place when, for the
first time, a GST is introduced. As part of the implementation of the GST,
the Australian Commonwealth Government is introducing a new organisation
numbering system, the ABN for all companies, registered businesses,
partnerships, sole traders, government departments and other
organisations.
Applying this new number to each vendor and
customer master file can be a challenging and manually intensive task, but
one that is essential for GST optimisation.
By leveraging the capabilities of Dun &
Bradstreet, companies can seamlessly append the D&B D-U-N-S¨ Number
to their customer and vendor files, enabling a direct link to the ABN.
The benefits of D&B's ABN Conversion Service:
-
The elimination of manual matching and data entry of ABN numbers
- The opportunity to eliminate duplication and further rationalise vendor
and customer records
- The opportunity to leverage the ABN assignment process to further enhance
customer and vendor master data files with company linkage, demographic
and risk information to support ongoing strategic analysis
- The opportunity to establish
links to the D&B database that can support the on-going maintenance of
the master files
How the process optimises Customer &
Vendor files for the ABN
D&B's experience in working with customer
and vendor files suggests that approximately 15 - 30 percent of a file may
be duplicate records, or records where one business is represented by
multiple supplier or customer ID numbers. Such record duplication will
create several time consuming challenges for businesses in their efforts
to accurately apply these new numbers.
In order to assist organisations in
bringing their systems into GST compliance, as well as supporting the
rationalisation of their customer and vendor data, D&B
has developed our ABN Conversion
Service.
This service allows organisations to have their
vendor and customer records matched against the D&B database enabling
ABN numbers to be directly loaded into their files without manual lookup
or data entry. This process of applying the new ABN numbers to the
customer and vendor master files also provides the opportunity for
companies to further cleanse and rationalise the master files, as well as
the ability to populate their enterprise database with cleaner and more
accurate customer and vendor data.
| D&B
processes your files (clean, match & append D-U-N-S numbers) |
» |
D&B
works with you to rationalise any duplicate records |
» |
D&B
appends the Australian Business Number to your files.
|
» |
Final files
are delivered back to you |
What is the D&B D-U-N-S® Number
The D&B D-U-N-S Number is a distinctive nine digit identification
sequence that is assigned and maintained only by Dun & Bradstreet. The
D&B D-U-N-S Number is global in scope, non-indicative and has the
power to link disparate databases. These features allow the D&B
D-U-N-S Number to combine directly with the Australian Business Number.
What is the ABN
The ABN is a single identifier that will be used for all business dealings
with the Australian Taxation Office and for future dealings with other
government departments and agencies. Companies incorporated under the
Corporations Law, as well as entities carrying on a business in Australia,
will be eligible to apply for an ABN. Businesses with an ABN will be
identified on a public register, to be known as the Australian Business
Register (ABR).
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