• Payroll setup for new employees
• New employee Tax File Declarations lodgements
• Prepare and process payroll on a weekly, fortnightly or monthly basis
• Yearly PAYG Summaries and electronic lodgement with the ATO
• Reconcile Wages at Financial Year End

Superannuation

• Review Superannuation obligations, either monthly or quarterly
• Prepare and lodge electronically with the Superannuation Clearing House
• Superannuation Clearing House set up
• Reconcile Superannuation at Financial Year End

What is Payroll

Payroll is the sum of all company financial records of salaries for an employees including, wages, bonuses and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time. Awareness of Payroll related issues plays a major role in a company for several reasons.

From an accounting perspective, payroll is crucial because total payroll and related payroll tax payment obligations considerably affect the net income of most companies. Payroll tax is subject to laws and regulations.

From an ethical viewpoint, payroll is a critical function as employees have their own financial obligations and are financially vulnerable with payroll errors and irregularities. Good employee morale depends on payroll being done timely and accurately. The primary mission of the payroll department is to ensure that all employees are paid their agreed salary accurately and on time with the correct tax withholdings, other deductions applied, and to ensure the withholdings and deductions are remitted to the appropriate body in a timely manner. If Payroll is not accurate quarterly superannuation calculations will not be correct.

What is Super

Superannuation in Australia refers to the arrangements which people make in Australia to have funds available for them in retirement. In Australia, superannuation arrangements are government-supported and encouraged, and minimum provisions are compulsory for employees. On employment, a Super Choice form is provided to the employee to nominate their choice of fund. The current rate of superannuation payable is 9.5% of an employee’s ordinary time earnings. Employers must pay the superannuation at least four times per year ie on a quarterly basis. If superannuation is not paid on time, the employer may be subject to the superannuation guarantee charge.