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.
When you make use of a cloud payroll management system, you should look for:
The cloud is a platform to make data and software accessible online anytime, anywhere, from any device. Your hard drive is no longer the central hub. Cloud payroll management systems allow you to manage your workforce from any location. You can oversee your workplace remotely whilst employees are able to check work schedules, communicate with colleagues and supervisors, and see upcoming shifts & tasks.
Employee scheduling, time clock & timesheets
To provide an easy way to manage employee time, attendance and task management. You should be able to roster staff and see their pay rates and skill levels, see upcoming leave, leave entitlements and employees should be able to clock in & out and utilize timesheets. It makes planning a lot easier.
Communicate with employees through instant messaging and keep your team aligned. Staff should be able to access their own private employee portal and download previous years’ payment summaries, pay slips and lodge leave requests without having to contact you directly.
End of year payroll
Prepare and publish annual employee payment summaries and submit the annual payment summary report to the ATO with a few clicks.
If you are still manually calculating or paying your superannuation obligations, it’s time to stop as the ATO now requires to you pay super electronically. You could be eliminating hours of work by using a cloud payroll software with integrated Superstream services, such as Xero. An integrated system should do all the heavy lifting for you – paying the individual employee superfunds and complying with Superstream.
Cost Effective, Saving Time & Minimizing mistakes
By managing payroll in house with payroll software, there is great potential to save money once you have setup correctly by automating procedures and integrating with beautiful accounting software like Xero. With the right payroll management solution, the comprehensive validation procedures and checks could prevent you from entering incorrect information and save you time by only having to enter it once.
At the moment, Xero integrates with 19 payroll + HR ‘add-ons’, why not look at utilizing one for your business and reap the rewards today. Our cloud and transactional services teams can help to deliver real solutions to you. If you have any questions regarding the above, please feel free to contact our office.
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