The importance of a modern payroll system
10 Sep

The importance of a modern payroll system

We use for our own bookkeeping and for our clients a Xero Accounting system. These on-line services, which are secure and backed up with resilient networks and processes, offer you more than just a way of paying staff.

As no doubt you are aware, there are rules on compliance and a long list of other tasks you should complete each month and at year end. You also need to stay up to date with the latest payroll legislation, ideally also automate manual payroll processes up to pay day, find ways to manage easily employee’s requests and most importantly, interpret clearly your payroll data. So what do we offer in our payroll services and why is this so important?

Comply with payroll legislation: The software service helps ensure you stay up to date and compliant with the latest legislation.

Simplify complex payroll processes: The software does the hard work for you. It automatically calculates wages, allows for easy set-up and customisable deductions.

Manage your employees: You can securely store employee information, efficiently manage holidays and record any days of absence.

Interpret your figures and reports: The solution provides customisable reports where you can easily go to the next level of detail to see the information you require.

Save time and boost productivity: Automatic payroll updates in your general ledger means all business finances are in one location. Your business saves time and increases productivity by removing the need for manual data entry.

Increase employee engagement: Reduce double handling. Allow employees to apply for time off with a clear view of their pay history. Let employees approve leave for others without seeing the rest of your financial data.

Submit Real Time Information (RTI): If one day you need to make real time (RTI) submissions to the tax authorities you are ready. All it takes is a couple of clicks to ensure that your submissions are timely and correct.

Get flexible payroll for any business: You benefit from unlimited and flexible earnings, deductions, benefits and reimbursement types. Pay your employees using a range of pay frequencies, with options of multiple pay calendars.

Create easily, tax related documents for staff: If a member of staff leaves, you can close an employee’s payroll record and create their final tax documents in just a few steps. At the end of the tax year it is easy to process all your staff year end documents at once.

Deploy time off management: Track and report employee absences with payroll, including manager approval and auto-accrual. It means you increase your productivity by taking data duplication out of your process.

So you can see there is now more, much more to the payroll process and when it is provided via our serviced systems not only can you really see what is going on, you also gain these other benefits. All this forms part of our bookkeeping services. Let us provide these benefits for you and your staff and let you reap the benefits.

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