Payroll is the sum of all payments made to and on behalf of employees and is critical to businesses. The primary objective of payroll processing is to ensure that employees receive all the financial entitlements they are owed in a timely manner.
Payroll Processing Services
Payroll processing services generally include:
- General Payroll – A certified bookkeeper ensures your staff are paid the correct rates and paid according to the correct hours worked.
- PAYG Withholdings – Businesses that pay employees or another business must withhold an amount from payments made. You must also withhold an amount from payments you make to other businesses if they don’t quote their ABN to you on an invoice or other document if required.
- Entitlements – Calculation of leave, including holiday, personal, long service, and rostered days off.
- Payroll Tax– Payroll services in Melbourne include tax responsibilities. When an employer’s total Australian wages reach what’s known as an ‘exemption threshold’, they are liable for payroll tax. Payroll tax is payable to the state by an employer based on the total wages paid to all employees. A BAS agent in Melbourne can handle this for you.
- Superannuation – Employers are required to pay a percentage on top of “ordinary times earnings” to a nominated superannuation fund. These contributions need to be made at least once every three months, and penalties for late payment are very severe.
- Single Touch Payroll obligation: Single touch payroll is a new regulation that changes when and how small businesses report payroll activity to the Australian Tax Office (ATO). Now, ATO requires small businesses to send a report after each pay run.
Professional Payroll Services in Melbourne
When it comes to payroll services in Melbourne, you need someone who can expertly handle your needs. Bright Bookkeeping can help to take the stress out of payroll for our clients by providing complete payroll solutions. So, if you are looking for reliable bookkeeping services in Melbourne, Bright Bookkeeping is the one to trust.
Bright Bookkeeping can help to take the stress out of payroll for our clients by providing complete payroll solutions.
Contact us and let’s discuss your needs.
Other Services offered:
- Bookkeeping Services Melbourne
- IAS & BAS Agent Melbourne
- Financial Reporting & Analysis
- Accounting System & Setup
We are your local Qualified Xero, MYOB, Quickbooks Certified Bookkeeper for:
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