Outsourced Payroll for NetSuite & J Curve Customers
Our team of highly experienced Payroll experts work with growing businesses to provide them with cost effective payroll processing & compliance services. Outsourced payroll offers many benefits to business owners including expert advice on payroll obligations & compliance, planning and payroll processing as well as managing all employee related tasks such as new employee set-up, end of employment payment calculations and more.
Benefits of Outsourced Payroll
As your business grows and your employee base grows, the demands of managing weekly, fortnightly and monthly payroll processing also grows. Most business owners are focused on tasks that will increase sales, diversify sales channels and improve processes and procedures. Investing in outsourcing your payroll will give you your time back to concentrate on the reason you started your business in the first place.
Setting up an Outsourced Payroll and Maintaining Employee Records
We can help you to determine how frequently you need to pay employees. Many businesses pay employees either weekly, every two weeks (bi-weekly) or monthly. However some states have minimum pay frequency requirements, depending on employment classification such as casual, part time or full time, so before deciding on a payroll schedule, make sure you comply with all regulations.
Understanding Employer Obligations
The Fair Work Commission acts as the overseeing body for payroll related obligations. They have systems in place to help protect employee well-being and ensure employers are adhering to the legal obligations set out by a wide range of awards and EBA agreements. Under new payroll reporting requirements, employers must track and keep records of all employee time worked, pay at least minimum wage (what they would be entitled to based on their job classification under any relevant award), and pay overtime if employees work more than 38 hours per week and are non-exempt.
Helping You To Abide by Tax Regulations
Like wage laws, payroll tax regulations exist at the federal and state level. After your employee’s gross pay is determined, you will need to calculate the tax withheld amount from pay cheques and remit this to the ATO in line with IAS and BAS reporting. Dedicated on-platform payroll software is designed to automatically calculate and in most cases, manage the workflow and administration of recording this information, making it easier for you as an employer to stay on top of your tax obligations.
Outsourced Payroll Services for NetSuite & J Curve Customers
Expert Strategic Advice
and Outsourced Payroll Processing Services
Keeping up with changing payroll practices and regulations is a common payroll challenge. One solution is to work with Payroll BPO specialists, such as TeamBlueSky or to hire a payroll management specialist. If you’re running payroll manually or are using a payroll software solution, the role of payroll manager may be a full-time job. And even if you’re outsourcing payroll, a payroll point person can help oversee the process.
Our Outsourced Payroll BPO Specialists Take Responsibility for the following:
- Setting up and maintaining employee records
- Checking time sheets
- Training staff on time sheet entry processes
- Processing payroll
- Deducting benefits contributions
- Ensuring payroll tax compliance
- Understanding and following wage laws
- Paying all necessary taxes
- Submitting payroll reports to the ATO and other government entities
- Keeping all required and helpful records
- Respond to employee payroll inquiries
Fortnightly & Monthly Pay Runs
1. Time Sheet Validation
Our payroll experts work with your team members to ensure all time sheets are entered correctly into MyPay or the NetSuite Employee Centre
2. Payroll Calculations
After time sheets have been entered and approved, our team will calculate each individuals gross and net pays, including any allowances, deductions, salary sacrifice arrangements or penalties that may apply.
3. Pay Run Approval
Your managers be provided with pay calculations and period to period variance reporting and commentary to help them approve their teams pay efficiently.
4. Bank File Upload
Once fully approved, our team can process payment through your chosen banking institute.
5. Payment Notifications & STP
Your team members will be sent payslips via email and we will ensure Single Touch Payroll reporting is executed.
Quarterly & Annual Payroll Compliance
1. IAS/BAS Preparation
We will ensure all payroll related entries for your businesses BAS/IAS statements are calculated ahead of time and reported to your accounting team.
2. Tax Withheld & Payroll Tax Payment Processing
All tax amounts that have been withheld from employees will be reconciled and remitted to the ATO in line with compliance requirements.
3. Single Touch Payroll Reporting
All Single Touch Payroll reporting requirements will be checked and reconciled and reported.
4. Superannuation Calculations, Payments & Reporting
Each employee’s Superannuation payments will be calculated and paid to their nominated superannuation fund.
5. PAYG Summary Reporting
Annual PAYG Summary reports will be processed and sent to employees in line with ATO timelines.
Ad Hoc Payroll Tasks
1. New Employee Set Up & Record Maintenance
Our team take care of the administration required to on board your employees including employee file setup.
2. Payroll Issue Resolution
Whilst we endeavor to ensure every pay run is accurate, mistakes can happen. Our experts will work with your employees to ensure any issues are resolved quickly.
3. Maintain Payroll Software
We take responsibility for maintaining all aspects of your NetSuite or J Curve payroll setup, configuration & customisation.
4. End of Employment Calculations and Payments
We can take care of all calculations and payments when an team member ends their employment including voluntary and redundancy.
Cost Comparison: Self Managed Payroll vs Outsourced Payroll
Example Scenario
Total Employees:
100
Industry:
Wholesale Distribution
Pay Frequency:
Monthly
Self Administered Payroll Management
Monthly Cost:
Payroll Manager Salary $7500
Employment Overheads $1000 to $1500
Accountant Fees $500 to $2000
Total: $9000 to $12,500
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Phone: 1300 174 382
Email: hello@teambluesky.com.au
Address: PO Box 880, Glenelg, SA, 5045, Australia
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