Payroll Processing

Payroll Services

tick_mark20    ABBS are registered BAS agents – Registration Number 80294000

tick_mark20    ABBS are registered ASIC agents – Registration Number 37258

tick_mark20    ABBS are certified practicing bookkeepers

Payroll is Complex

Payroll processing in Australia has been rated as the fifth most complex in the world.  This is the principal reason why you need to be confident that your payroll is done correctly.

Payroll processing can involve a wide variety of tasks, some of which can only be completed by a registered BAS agent.  Where a business organisation is outsourcing the payroll functions of their organisation, it is recommended that a check is made to insure the entity or individual engaged to perform these tasks are in fact registered as a BAS agent.  This can be quickly checked using the Tax Practitioners Board search facility, entering the name of the entity, or the name of the person if an individual.  This search will confirm the registration status for you.

How ABBS can Help

Some of the ways ABBS were able to assist clients to avoid over payments while maintaining compliance with their employee award provisions in their payroll processing was by correcting errors in payroll category setups.

  • Holiday and Personal leave accruals were set to accrue on items that should not accrue leave entitlements; this meant that the on costs for the employer were higher than they should have been.   We corrected these settings and made adjustments for prior errors.
  • Superannuation in another instance was set to accrue on items that were not required accrue for superannuation.    Not always but in many instances these over payments are unrecoverable, so it is important that this is done correctly.   In some instances, we were able to negotiate a successful return of over payments and others we were not successful, as this is dependant on the particular policies of the individual superannuation funds.  The important thing to note here is that over payments are often not recoverable.
  • Termination payments was another issue where superannuation was paid on unused holiday leave.  An unnecessary cost to the employer which could have been avoided.

Most employers try to do the right thing in respect of their employees, and some choose to pay additional amounts for the benefit of the employee; however ABBS believe that this should be a conscious choice made by the employer, and not as a result of incorrect payroll processing.  These are just a couple of many examples that could be given where employers are paying more than they should, or are required to pay under modern awards.

Another side of this issue is also true.  Underpayments often happen unknowingly which are caused by errors or omissions.  Such errors can result in back payments to affected employees as well as the possibility of penalties levied against the employer.  These can place unnecessary financial strains on business finances that can have unwelcome and unexpected outcomes.

With payroll for most employers being a very significant cost; employers need to be confident that their payroll is being managed correctly.

Is your payroll processing being done correctly?

Contact us today on 0423 838 008 for affordable accounting that supports your business goals

Accountability BAS and Bookkeeping Services provide professional bookkeeping and BAS services to businesses in most Australian states.

What our clients say about us…

“I had the pleasure of being introduced to ABBS through Jo Bacon the WA representative. The professional service.  I have received has been so essential in assisting me with my new business, I am so grateful for the expertise, professionalism and excellent customer service I have experienced.” Marion B

“Thanks to Steve Cocks from ABBS we managed to get all the books up to date and in no time, … and that took the weight off my shoulders so I could focus on developing my business and moving forward in a more organized and structured way, keeping on top of things every month which makes life much easier.”  Elisabeth G

“As an ex-bookkeeper, I’m pretty fussy about how I like things done and I’ve found Caran from ABBS to be a pleasure to work with. She’s competent and efficient and now that I have her helping me with the bookkeeping for my business, I wouldn’t be without her.”  Sandy T

Items of Interest

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