Business on the cloud!
One of the many benefits of having your business online, is being able to manage the business at your fingertips. This not only saves time but also ends up being cost effective.
Software providers need to make sure their software are current and compliant with GST, PAYG, Super obligations.
Online with wages:
Once employees are set up correctly, it is one of the easiest ways to know you have ‘it right’ when withholding tax from pays and applying the super obligations to staff.
Xero will automatically calculate the tax amount for each employee based on the information provided. It will reflect on the pay run for each week. As the software is programmed to calculate super, it will do so when it is required by law.
I helped a businesses who actually were paying over the 9.5% threshold because they simply didn’t realize the ATO put a hold on the super increase. Their software was off line and not updated as they didn’t want to pay subscription fees to the software provider. This ended up costing them more money due to overpaying super to staff!
Once pays are completed, you will be able to ‘file’ the pay run with the Australian Taxation Office keeping up to date with Single Touch Payroll.
Other Benefits – Employees personal log in and app
We all need to keep track of staff working hours. Employees can simply log in and add their times.
- Online time sheets ( hassle-free pace.)
- Employees request annual leave from their portal.
- Approved by business owner before pay runs are completed
This keeps you compliant with the fair work, as times and breaks are to be recorded in your reporting obligations.
Would you like more information on payroll? Feel free to drop an email or call.