Employment & Payroll
Employing for the first time or employing additional staff
Employing staff can be a sign that your business is growing. Ensuring when you hire staff that all relevant documentation and registrations are complete and correct is very important. This can include registering or notifying the relevant agencies of changes to your employment operations and including:
1. Registering with the ATO as an employer and PAYG Withholder
2. Having your employee complete a TFN declaration form and forwarding this to the ATO.
3. Registering or notifying WorkCover of any change in annual remuneration paid to employees of more than 20%
4. Registering as an employer with your employee's superannuation fund.
5. Having employees fill out and return Superannuation Choice forms.
Setting up a good payroll system from the start for a small business is crucial. The correct setup ensures that leave entitlements such as Long Service Leave, Annual leave and Sick leave are correctly recorded from the start of employment. It also allows you to track your wage and superannuation expenses to assist with analysis of your expenses and for timely and correct lodgement to the ATO, WorkCover and your employees superannuation funds.
Most well know software's incorporate an payroll function these days and are very simple to use. Jeffkins Accountancy - Melton accountants and small business advisors can assist with the setup of payroll of all major software's including MYOB, Quickbooks and Xero.
Jeffkins Accountancy - Melton Accountants and small business advisors take a wholistic approach to our business clients needs and ensure that they are setup right from the start, this includes assisting our clients with selecting a software which includes a payroll function, training and aiding them with the completion of forms and registrations for the ATO, WorkCover and Superannuation funds.