Comprehensive Payroll Services in Canberra

Handling All Payroll Requirements


Pamela at Figures Right offers comprehensive payroll services, including payroll processing, tax filing and compliance management. Let her handle the details so you can focus on growing your business.

 

She also offers advice for a range of areas related to employee wages, such as superannuation, leave entitlements, annual payments and more. Plus, she can set up payroll summaries and reports to help you keep track of your finances and comply with relevant rules and regulations. With Figures Right on your side, you'll never have to worry about paying your staff the wrong amount or missing out on important taxation benefits.

 

Reach out today on 0418 633 907 to schedule your free one-hour initial consultation. Partnering with business owners in Canberra and surrounds.

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What Does Payroll Management Involve?


Payroll management involves various tasks related to processing employee wages and ensuring compliance with relevant laws and regulations. This includes calculating salaries, wages and deductions accurately, such as taxes, superannuation contributions and any other entitlements or deductions mandated by law or company policy. Payroll managers are responsible for maintaining accurate records of employee hours worked, leave taken and any other relevant information.

 

Additionally, payroll management involves staying updated with changes in taxation laws, superannuation regulations and other statutory requirements to ensure payroll processes remain compliant. This may include filing tax reports and making payments to government agencies on time.

 

Payroll managers may also play a role in setting up and maintaining payroll systems and software to streamline processes.

 

In short, effective payroll management is crucial for ensuring employees are paid accurately and on time while maintaining compliance with legal requirements.


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Benefits of Bookkeepers


Collaborating with a bookkeeper for payroll management offers several key advantages. Firstly, bookkeepers are trained to handle financial records accurately and efficiently. Their knowledge helps to ensure that your payroll processes comply with relevant regulations, reducing the risk of errors or penalties due to non-compliance.


Secondly, bookkeepers can save you valuable time by managing payroll tasks, such as calculating wages, deductions and taxes, allowing you to focus on core business activities. They also stay updated on changing tax laws and payroll regulations, ensuring that your payroll system remains compliant.


Additionally, bookkeepers provide insights into your company's financial health by generating reports and analyses based on payroll data. These insights can help you make informed decisions about budgeting, forecasting and resource allocation.


Overall, partnering with a bookkeeper for payroll management not only streamlines your payroll processes but also enhances accuracy, compliance and financial transparency within your organisation.

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Payroll Software Options


Several payroll software options are available, each offering unique features to streamline payroll management.

 

Xero is known for its user-friendly interface and seamless integration with accounting functions. It automates payroll processes, including tax calculations and employee leave management.

 

Employment Hero provides comprehensive HR and payroll solutions, offering features like rostering, employee onboarding and performance management alongside payroll processing.

 

MYOB (Mind Your Own Business) is a popular choice for small- to medium-sized businesses. It offers customisable payroll solutions, including automated pay runs, employee self-service portals and compliance tools.

 

Each of these software options caters to different business needs. Contact Pamela at Figures Right today to discuss your requirements.


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Frequently Asked Questions


  • Can a bookkeeper do payroll?

    We sure can! Our payroll services cover everything from setting up STP to superannuation. We regularly attend bookkeeping training to keep ourselves updated on the latest industry updates (including the recent award changes) and pride ourselves on keeping clients compliant with ATO requirements and streamlining business processes.

  • What payment methods are available?

    All payments are via EFT (electronic funds transfer). 

  • What do payroll services typically include?

    Payroll services in Canberra usually cover a wide range of tasks designed to manage employee payments accurately and compliantly. These services include processing salaries and wages, managing leave entitlements, calculating tax obligations like PAYG withholding, superannuation contributions, submitting Single Touch Payroll (STP) reports to the ATO, and issuing employee payslips. Many providers also assist with onboarding new staff, maintaining payroll records, managing terminations, keeping up with award rates and enterprise agreements, and ensuring businesses meet all relevant workplace laws.

  • Why should businesses outsource their payroll?

    Businesses often choose to outsource payroll to improve efficiency, ensure compliance with Australian tax and employment laws, and reduce the administrative burden on internal teams. Payroll management can be complex and time-consuming, especially with constant changes in legislation. Outsourcing allows businesses to access specialist knowledge, minimise the risk of costly errors, and free up time to focus on core activities. It also provides a scalable solution, which is particularly useful for businesses that are growing, restructuring, or managing a fluctuating workforce.

  • How do payroll services help with Single Touch Payroll (STP) compliance?

    Payroll services assist businesses with Single Touch Payroll (STP) compliance by managing the real-time reporting of employee payroll information to the Australian Taxation Office (ATO) with each pay cycle. Professional providers ensure that payroll systems are properly configured for STP, transmit the correct data after each payment run, and help businesses comply with reporting requirements updates. They can also support initial STP setup, troubleshoot submission errors, and guide employers through year-end finalisation processes, helping to reduce the risk of penalties for non-compliance.

  • Are payroll services suitable for small businesses?

    Yes, payroll services are suitable for small businesses. They often provide essential support at a cost much lower than hiring a dedicated payroll officer. Small businesses can benefit from professional expertise without the overheads associated with in-house payroll management. Services can be tailored to meet the needs of smaller operations, from basic wage calculations to full-service payroll management, allowing small businesses to maintain accuracy, stay compliant with employment regulations, and avoid common payroll pitfalls as they grow.

  • How are payroll service fees structured?

    Payroll service fees can vary depending on the provider, the complexity of the business’s payroll needs, and the number of employees. Common pricing structures include per-employee, per-pay-run fees, monthly subscriptions, or custom packages based on service levels. Some providers offer flat rates for standard services, while more complex arrangements, such as managing multiple awards, shift differentials, or contractor payments, may attract additional charges. Transparent pricing is important, and businesses are encouraged to review service agreements carefully to understand inclusions and any potential extra costs.

  • Can payroll services assist with superannuation obligations?

    Payroll services in Canberra play a crucial role in assisting businesses with superannuation obligations. They ensure that correct contributions are calculated, paid on time, and reported to the ATO through SuperStream. Providers ensure that super guarantee (SG) rates are applied correctly to employee earnings and that contributions are made at least quarterly to complying super funds. They also help manage salary sacrifice arrangements, additional voluntary contributions, and any legislative changes affecting superannuation obligations, assisting businesses to avoid penalties for non-compliance.

  • How do payroll providers stay updated with employment laws?

    Reputable payroll providers continuously monitor changes in federal and territory employment legislation, tax regulations, and superannuation requirements to keep their services compliant. They often maintain professional affiliations with industry bodies, undertake ongoing training, and use updated software solutions to adapt quickly to new rules. By staying informed of updates such as changes to minimum wage rates, award conditions, or reporting requirements, providers help businesses avoid legal risks and maintain accurate payroll practices throughout the year.

  • What should businesses look for when choosing a payroll service provider?

    When choosing a payroll service provider, businesses should look for experience, reliability, transparent pricing, strong security measures, and a good understanding of local and national regulations. It is important to assess whether the provider offers flexible solutions that match the scale and complexity of the business’s payroll needs. Checking client testimonials, response times for support, integration capabilities with accounting software, and whether the provider offers dedicated account managers can also help businesses make an informed choice.

  • How do payroll services handle employee confidentiality and data security?

    Payroll service providers in Canberra treat employee confidentiality and data security as top priorities, employing various measures to protect sensitive information. This typically includes encrypted data transmission, secure cloud-based payroll systems, controlled access protocols, and compliance with Australian privacy laws. Providers are also expected to have strong internal policies for managing data breaches and to maintain confidentiality agreements with their staff. Businesses should verify these security practices before engaging a payroll provider to protect their employees and themselves.

  • Can payroll services integrate with accounting software?

    Yes, many payroll services in Canberra offer seamless integration with popular accounting software such as Xero, MYOB, QuickBooks, and others. Integration allows for real-time syncing of payroll data, making it easier to manage cash flow, produce financial reports, and meet tax reporting requirements. It reduces duplication of work, enhances accuracy, and improves visibility into labour costs. Integration capabilities are significant for businesses that streamline financial operations and maintain efficient, accurate records across their payroll and accounting systems.

  • How often can businesses run payroll with a service provider?

    Businesses can run payroll as frequently as their employment agreements or business needs require, whether weekly, fortnightly, monthly, or on a customised schedule. Payroll service providers are flexible and can accommodate the desired frequency, ensuring that payment processing, payslip generation, and reporting obligations are met on time. Some businesses opt for fortnightly cycles to align with award conditions. In contrast, others choose monthly processing for simplicity, and professional providers adjust their services to fit each business’s pay cycle.

  • How long does it take to set up payroll services for a business?

    Setting up payroll services in Canberra typically takes a few days and weeks, depending on the size and complexity of the business’s workforce and existing systems. The setup process usually involves gathering employee details, previous payroll records, tax file numbers, superannuation fund information, and award or enterprise agreement conditions. Providers may also need to configure integrations with accounting software and establish reporting schedules. Clear communication between the business and the payroll provider can help speed the transition and ensure a smooth onboarding process.

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