• Initial setting up and configuration of the employees with the proper employment classification and entitlements.
• Pro-rata calculations for a new start and exiting employees.
• Answering technical queries from employees.
• Calculation of the complex payroll tax obligations and potential penalties if not reported correctly.
• Tracking of leave entitlements, especially long service leave, as it varies from state to state.
• Ensuring the accrued employees’ entitlements are appropriately accounted for to assess realistic business performance metrics.
• Frequent changes in working hours, overtime hours and pay rates requires accuracy and attention to detail.
• Processing of parental leave, maternity benefits, redundancy and work injury-related entitlements and payments.
• Correct reporting to the ATO and annual reconciliation for wages/PAYG withholding.
• Implementing good governance and controls in your payroll process to mitigate the risk of error and fraud.
• If your payroll system is a standalone system, periodical summary reports will get picked up in your financial accounting systems.
• Remembering that KPI or performance bonuses are to be paid exclusive of a superannuation contribution.