We can assist you with all facets of payroll and reportable contractor payments. Our professional team are fully versed in all legislative requirements and the processes required in managing this crucial part of your business.
The primary objective of payroll processing is to ensure that employees receive all the financial entitlements they are owed in a timely manner. Poor payroll processing can be very detrimental to a business as it can significantly impact net income and lead to disgruntled staff. With an abundance of legislation, payment methods and withholdings, payroll management can be a difficult and time-consuming process.
Payroll processing services include:
- General Payroll – ensure your staff are paid the correct rates and paid according to the correct hours worked.
- Payslips – Our team can prepare your staffs payslips on your behalf and email them directly to you or your staff along with
- PAYG Withholdings – Any business that has employees or pays employees of another business must withhold an amount from payments made to them. Any payments made to a business that doesn’t quote an ABN on an invoice or other documentation must also have an amount withheld from payments.
- Taxable payments reporting – Businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year. These payments need to be reported to the Australian Taxation Office (ATO) on the Taxable Payments Annual Report, or electronically.
- Entitlements – calculation of leave including holiday, personal, long service and rostered days off.
- Payroll Tax, Workers Compensation Insurance, Employment Forms – some or all of these may be needed for your business.
- Efficient and Electronic systems – these should simplify all processing and provide greater security for you and your staff.
- In addition Superannuation should be calculated and paid – this is a compulsory whereby employers are required to pay a percentage on top of “ordinary time’s earnings” to a nominated superannuation fund. These contributions need to be made at least once every three months and penalties for late payment are very severe.
- End of Payroll Year Processing – Reconciling, Generation and Lodgement of employment group certificate’s and payment summaries, taxable payment summaries, reportable fringe benefits and lump sum amounts
Call us on (08) 6168 9261 or email email@example.com for more information.