Fewer small businesses today consider payroll services in Australia. However, payroll is an important part of a business, and far too many business owners are caught in a trap with this. When the necessary authorities get involved, it can result in a hefty fine, and if it continues to occur, those costs will add up! That is one of the biggest and best reasons to look into what payroll solutions are available for small businesses. So, which options are out there? Check here!
What would you look for if you were to find the best payroll outsourcing solution for your business? Automating salary calculations should not be the only added value. In short, it’s meant to make your life easier and less stressful by eliminating all the potential errors (and headaches) that manual processing generates and tackling them with some innovative features. Zoho books Australia is one of many such innovative solutions.
Payroll is an important component in any business, but many business owners get bogged down by the numerous complexities. There is no doubt that one of the best reasons for small businesses to investigate payroll solutions is to reduce costs. But what options are available? Read on!
Xero
Clean, modern, and easy to use. These three features best characterize Xero software. As of right now, Xero payroll Australia offers its payroll tool only in Australia, New Zealand, 24 states in the USA, as well as in the UK, but with the rapid growth of their business, it is beyond certain that the payroll feature will be rolled out for the rest of the world.
Using Xero payroll Australia as your accounting software will make using the payroll feature effortless.
Xero Payroll Tool is only available for premium users. 200 employees can use the tool at a time (rates apply). With Xero, you can manage your payroll from one place:
- You can keep track of your employees’ hours with the built-in timesheet feature and automate payroll calculations.
- This feature updates your payroll information.
- ATO payment summaries and tax declarations can be filed online through your software.
MYOB
Whether you operate a small or medium business, MYOB can be your one-time payroll solution. It’s free with an ‘AccountRight’ Subscription and lets you pay an unlimited number of employees. Even though MYOB is less feature-rich than Xero, it still provides the basics you need for accurate and efficient pay runs:
- You can match expenses to your bank account with automatic journal entries, and bank feeds.
- The accrual of leave is automatically calculated, with the option of paying in advance.
- With secure payments, you can control who can record and authorize payments.
- Complies with industry best practices for compliance and security.
- Payslips can be printed or emailed.
- Employees can track time for certain jobs in real-time timesheets, and employers can submit these as invoices to clients.
Sage
Outsourcing payroll couldn’t be easier. Sage is a well-known payroll solution available today, and it is ideal for most small and medium businesses. It is a good option for businesses with less than ten employees. Nevertheless, the monthly fee for these services is fairly reasonable, and you’ll also get a personal payroll agent.
Payroll Metrics
Based on more than 22 years of payroll software development in Australia, Payroll Metrics has created an innovative payroll and workforce management solution to improve business efficiency and lower operating costs. Companies who want to manage payroll processes progressively should choose Payroll Metrics. This comprehensive tool offers the following features:
- Smart reporting ensures there are no errors or underpayments.
- Once the transaction is approved, the pay adjustment module will automatically send out a one-time EFT deposit.
- ATO receives TFN declarations and payment summaries online.
Zoho books
Zoho books Australia is a cloud-based, end-to-end payroll solution designed specifically for Australian businesses to streamline payroll processes. Owners can now handle their payroll as a service, beginning with onboarding new employees and ending with accounting for payroll expenses.
This makes the payroll process more efficient.
- Automated payroll calculations
- Preparing tax reports
- Adaptable salary templates
- Providing secure employee self-service
- Payments via partner banks automatically
- Customized roles and permissions for users
- Integrating HR and accounting
Get a Good Payroll Service
Payroll might not seem essential to a business, but it’s essential. Without finding a suitable payroll service, you could get into trouble and face hefty fines. With a quality payroll service, you can avoid these issues.
