Payroll law in NZ is complex and there are plenty of grey areas that can cause confusion. Sometimes what seems logical and fair is not always right by law and good employers can get into situations costing them dearly.
Of course everyone understands a good payroll system is essential. But if you choose the wrong system you could get yourself in a bit of strife:
– What if you load payroll software on your laptop but it crashes or is stolen?
– What if payroll legislation changes or PAYE is updated – do you need to update the software with a new version? Will your tired old computer still support it?
– Is your payroll data securely stored on your local network?
– Do you have enough knowledge of payroll law to avoid any trouble?
Online payroll systems were developed with these concerns in mind. What makes it great is that everything is kept ‘on the cloud’ with a fully-secure, reliable and easy to use system. Don’t rely on your office’s computers always working – an online payroll system lets you pay staff anywhere, anytime. You can pay your staff from your office, home or anywhere in the world.
Is it more cost-effective than payroll software?
Using the right online payroll (like SmartPayroll) cuts the time you spend processing payments – big time! Giving you more time to focus on the actual task at hand. You have the option of automatic PAYE filing, and automatic payments to staff straight from your elected bank account. Yes what a relief – no more dealing with IRD. You can also have pay slips automatically emailed out at the same time.
With SmartPayroll you can relax in knowing your payroll is always up with legislation and your record keeping (i.e leave balances) is correct.
SmartPayroll’s friendly team is always available by phone or email to help you with any part of the process. Their pricing offers great value with no hidden costs. And best of all, you can cancel instantly at any time!
What to consider when choosing an online payroll system:
– Will it suit my business?
– How much time will it save me?
– Do I have to set it up myself or will someone do it for me?
– Is it easy to use? Will I get free training?
– Do I have access to free helpdesk support?
– Can it pay the staff automatically and file my IRD returns without me having to do anything?
– Is it easy to see reports (i.e. pay slips, termination pay, etc)?
– Will I have to pay for upgrades if the law changes?
– Is there an annual license fee?
Taking on your first employee?
There’s a fair bit to think about; IRD forms, tax, ACC payments, leave calculations, KiwiSaver…and that’s just the start!
Check out our Payroll Employers Guide with all you need to know
With so much to think about, we thought it’d be useful for employers to have an overview of all aspects involved in managing a new employee. SmartPayroll has written a fantastic FREE guide for employers to ensure they have all bases covered.
What you’ll find in the Employers’ Handbook
– When you might be charged PAYE penalties for non-compliance or lateness.
– Your responsibilities for ACC – levy payments and employee compensation in the event of injury.
– KiwiSaver Deductions and what you need to contribute as an employer.
– A directory of helpful websites and contact phone numbers who can offer great support.
– Answers to common employer questions around employee payments, leave, payroll processing and deductions.
The Employers’ Handbook will also include useful form templates at the back that can help you create your own leave applications, overtime forms, timesheets, and expense claim forms.
There’s no doubt a good online payroll system makes everything easier. It ensures payments are made on time to your employee and the IRD. It’ll also ensure you have correct records should you ever need to produce them.
Often you’ll have questions as certain situations with your employees arise.
The great thing about an online payroll system like SmartPayroll is that they’re just a phone call away to answer any query and point you in the right direction. They will make sure your employee’s payroll, tax, ACC, leave, KiwiSaver and everything else is correctly processed so you don’t have headaches down the line.