“I think my pay is wrong!”
Ever heard this before? It can happen – and though it’s inconvenient, once it’s fixed everyone is usually happy. But it raises some questions: How do we know if all our payroll components are accurate? Are we processing superannuation properly? How do we fix payroll errors? What should be on a payslip? What about salary sacrifice?
Payroll is a very sensitive area of your accounts – not only because of the confidential nature of the information, but also you’re dealing with people’s income which can be very personal. Getting it consistently right can prevent a multitude of issues. And it’s not just your employees you need to take care of, you also need to make sure everything is squared off properly with the ATO.
“Payroll is so complicated!”
This may be your experience, and it is totally understandable. Most people don’t start a business to become a payroll expert – and you don’t have time learn all the fiddly details when you are trying to manage other important responsibilities.
Exdia Bookkeeping Services offers a full range of payroll services, taking the burden of payroll complexity away from your business. Some of the aspects of payroll that we can look after for you include:
- Providing the various items of paperwork you need to set up a new employees
- Processing this paperwork and setting up new employees in your system
- Managing the processing of your regular pay runs, including the relevant banking file
- Managing clear records of your employees’ leave
- Setting up and managing salary sacrifice arrangements
- Taking care of payroll liabilities like PAYG tax, superannuation and payroll tax
- Attending to payroll enquiries and issues
- Issuing pay information (like payslips and annual payment summaries) to employees
- Completing your annual payment summary information for the ATO
- Working out the figures for your annual worker’s compensation return
- Calculating and processing payment when employees leave or are terminated
- Reconciling payroll transactions in your system and keeping track of leave accruals on your balance sheet
- Making sure the PAYG figures on your BAS are correct
Imagine going to sleep at night knowing that your payroll is being taken care of professionally. Obligations being met, issues being attended to, employees getting clear information – great for both you and your team.
Make sure to check our accounting software setup services in Sydney!