Frequently Asked Question: Does NetSuite Offer Payroll?; Want to know more but do not know where to start?

While NetSuite is known for its robust accounting and financial management capabilities, many businesses wonder whether NetSuite can also handle their payroll needs in Australia.

Unfortunately, NetSuite does not offer a native payroll solution for the Australian market. However, there are several options for connecting and synchronising payroll data with NetSuite, allowing businesses to manage their payroll processes in a more streamlined and integrated way.

PreBuilt Connectors for NetSuite and Payroll Platforms

One option for businesses is to use off-the-shelf connectors that can integrate their existing payroll solution with NetSuite. These connectors, available on the NetSuite App Hub, are subscription-based and can provide a more seamless transfer of payroll data between systems.

Custom Connectors for NetSuite and Payroll Platforms

Another option is to develop a custom connector to suit specific business needs. This can be done in-house if a business has technical resources available, or by working with a NetSuite partner like TeamBlueSky.

Outsourcing NetSuite Payroll

A third option is to outsource payroll functions to a specialist provider like TBS. This can be an attractive option for businesses of all sizes, freeing up time and resources that can be better spent elsewhere.

Other Ways to Connect Your Payroll Data to NetSuite

If you’re using an Australian payroll solution and would like to connect it to NetSuite, there are three main options for you to consider

Flat File Upload

Most payroll solutions allow you to export data as a CSV file and then upload this into NetSuite using the CSV Import feature. This is a fairly manual process but it can be somewhat automated with custom saved searches and standard export scheduling.

Journal Import

If your payroll solution is driven by an accounting system, like MYOB, QuickBooks or Xero, you can generate journals for quick export of relevant payroll transactions. These can then be imported into NetSuite using the Journal Import feature. This is a fairly simple process but requires accounting knowledge.

Are there any NetSuite native Payroll solutions?

Yes! Infinet Cloud Solutions is a NetSuite-integrated payroll solution that offers full-service, cloud-based payroll for Australian businesses.

Infinet Cloud Solutions

Despite the lack of a native payroll solution in NetSuite, there is a NetSuite-integrated payroll solution available for Australian businesses: Infinet Cloud Solutions. This cloud-based payroll solution is installed as a NetSuite module, allowing for easy integration with other NetSuite features and modules like the employee centre, general ledger, accounts payable, accounts receivable, and customer relationship management.

Infinet Cloud Solutions offers features like automatic tax calculation, flexible and configurable rules engines, support for multiple entities, locations, and cost centres, real-time visibility of payroll data through the MyPay employee self-service portal, and electronic lodgement of payroll tax, workers' compensation, super guarantee, and single touch payroll (STP) reports. In addition, Infinet Cloud Solutions' MyPay portal enables employees to access their payslips, tax summaries, and superannuation details, as well as request leave and submit timesheets if a business is using the Infinet Cloud Timesheet module.

Being a native solution, Infinet Cloud Solutions is installed as a NetSuite module in your account.

 This installation will add the databases, features and functionality you need to manage your payroll processes.

Additionally, Infinet Cloud offers MyPay, an online employee portal giving your staff access to vital payroll information such as payslips, tax summaries and superannuation details. MyPay also allows your employees to update their personal contact details, bank accounts and tax file numbers, as well as request leave and submit timesheets (if you’re using the Infinet Cloud Timesheet module).

Key Features of Infinet Cloud Payroll (ICS) include:

• Automatic calculation of employee tax, superannuation, payroll deductions and leave accruals
• Flexible and configurable rules engine that can be tailored to your business needs
• Support for multiple entities, locations and cost centres
• Full integration with NetSuite employee centre, General Ledger, Accounts Payable, Accounts Receivable and Customer Relationship Management (CRM) modules
• Real-time visibility of your payroll data with Infinet Cloud’s MyPay employee self-service portal
• Electronic lodgement of Payroll Tax, Workers' Compensation, Super Guarantee and Single Touch Payroll (STP) reports
• Detailed audit trail of all payroll transactions

About TeamBlueSky

TeamBlueSky are NetSuite experts and have extensive experience in deploying Infinet Cloud's payroll solutions. If you would like to learn more about the benefits of bringing your payroll onto the NetSuite platform contact us for a discussion.

Wanting to Outsource Your NetSuite Payroll?

If you’re not wanting to manage your payroll in-house or don’t have the necessary resources, you can outsource your payroll functions to a specialist provider like TBS. This is a popular option for businesses of all sizes as it frees up time and resources that can be better spent elsewhere.

To learn more about our Payroll as a Service options click here.