The ATO has legislated all small business to be Single Touch Payroll (STP) compliant.
It can be difficult when choosing a payroll solution. As a small business owner, the most important factor to consider is “what is the quickest and easiest way that I can become ATO STP compliant”.
When paying staff, calculating tax and superannuation, managing leave and staying compliant, takes up valuable time. Whether you’re an Australian small business owner, payroll manager or accountant, payroll solutions can provide an all-in-one solution that is convenient, quick and digitalised.
These solutions increase the accuracy of payroll through automated calculations, and enables you to pay your employees accurately, and on time. This will help keep the ATO and your accountant off your back.
Mobile app solutions offer flexibility, you could run your payroll while waiting for a coffee! They simplify the process so that you can focus on your business.
Here are some critical factors to consider when choosing a payroll solution:
STP is mandatory
It’s mandated that all business be ATO STP compliant. From July 2020, the ATO is threatening small businesses with fines.
Signing up for STP will save you and your business time. Employee payment summaries will no longer be necessary. Payroll information is sent to directly to the ATO with each pay period. Your employees will access their records online through the MyGov portal.
Ensure your payroll solution is STP compliant.
A mobile app that allows you to create payslips and send STP files from anywhere is handy for business owners that are on the go. This enables a new level of flexibility that keeps up with business constantly on the move. All the information is available at your fingertips within seconds.
Many mobile payroll apps provide limited functionality; not allowing employers to create payslips or send STP files; with employees viewing payslips, rosters and filling in timesheets only. Check what you are getting before subscribing.
Local Support, Local Help
There can be questions when doing payroll. Being able to contact a knowledgeable customer service team is essential. Not only is it vital that they are competent it also helps if they are Aussie based. A local customer service team are often more responsive and can provide more personalised care.
Easy to use
The solution should be intuitive, simple to set up and easy to use. Some legacy solutions, developed for desktop use, haven’t migrated to the more flexible cross-platform app-based framework. Check that they have the features you need, i.e. STP compliance, superannuation tracking, holiday and sick leave, bonuses, commissions, deductions, allowances, payroll reporting and cross-platform functionality.
Business data needs to be secure as you hold sensitive information in your payroll software; there are a couple of crucial ways to check the security of a payroll solution.
Firstly, you want to check at the top left of the page of your payroll software, if there is a ‘lock icon’ before the website address. This icon signifies https, ‘s’ meaning secure and that any data you are sending from the web page to the payroll service is encrypted.
Easy Payslip solution & 30-Day Free Trial!
There are plenty of great reasons for your business to set up a payroll solution. Here at Easy Payslip, we have created an intuitive and secure service. Easy Payslip ticks all the right boxes; it is a simple, low cost, STP compliant and an ATO approved software solution.
If you’re looking for an easy solution for your business that you can manage from your mobile phone or computer, try our solution Easy Payslip! We’re based in Australia, and our app and website are specifically designed for Australian small business owners.
If you have any questions we’d be happy to chat. You can give us a call on 02 8084 9222 or email us at mailto:email@example.com. Or feel free to go ahead and sign up for a 30 day free trial on our android app, iphone app or website.