March 14, 2016

5 Tips for Managing Payroll in a Melbourne Small Business

Melbourne is a good place for business. No wonder many entrepreneurs choose this city for their endeavour. If you have a small business in Melbourne, then you know that one of the most important ways to keep your employees satisfied is to get the payroll system right. Glitches, even simple ones, can be a source of frustration for both business owners and affected staff. Needless to say it’s one responsibility you can’t afford to screw up and luckily, help isn’t scarce in this area. There are ways to make it efficient. Here are tips to ensure that payroll system in your business runs smoothly. Make a payroll timetable and stick to it. Creating and following a good schedule gets half […]
July 13, 2015

When Should You Receive Monthly Salary?

One option business owners’ have is to include themselves in the payroll system but they have to balance their pay with the financial needs of the business. Have you seriously discussed this with your Bookkeeper Melbourne? If business owner’ include themselves on the payroll they have to consider the following; How much they pay themselves either in payroll, dividends and loans . The amount of money they take. Will it be more than the highest paid employee, or an amount that will make them comfortable? When is the time to get the money out of the business? Will it be alright if they will not pay themselves? The following guide will be of help; Consider the income flow of your […]
February 20, 2015

Top Payroll Penalties to Avoid

Payroll rules and regulations are an important management concern for any small business. Payroll services can help small businesses avoid any oversight penalties that may occur. There are several management concerns that each new business and established business may have regarding employee payroll. 1. RECORD KEEPING AND DATA GATHERING. Record keeping and data gathering are critical areas of business. Data gathering is especially important for the employees of a small business. There are local, states, and federal record keeping requirements for each new employee and for each employee that remains employed. Making sure that the correct information is gathered is vital to the longevity of any small business. 2. MANAGING PAYROLL. Payroll needs to be organized and managed effectively. The […]