Created Date | Friday, 10 June 2016
Filesize | 2.01 Megabytes
Whether you’re a one-person company or you employ several hundred, time is valuable. Payroll management can be a very costly, time consuming and sometimes arduous process. To overcome some of these hurdles, we recommend the utilisation of a cloud payroll system which can help you to save time with compliance.
One of the biggest expenses all businesses face, especially in the tourism and hospitality industry, is the cost of wages. Besides purchases of stock, payroll is generally the second highest expense with businesses needing to make sure they are complying with penalty rates, superannuation, WorkCover and payroll tax. However, a recent development will see the cost of employment increasing.
As Australia transitions to the inevitable cash free economy, the hospitality and retail sector has been evolving at a slower pace to most. Cash-only policies and EFTPOS minimums still riddle many local cafes to this day. These businesses have been slow to adapt to the changes in technology that will allow them to grow.