Business Buddy + Xero Provide For Perfect Payrolls

As the professional team at Business Buddy say, employing people is a fundamental element of a business and if a company is serious about growing, it is inevitable that good staff need to be a part of the strategy, and it is not only a legal necessity to ensure their pay is correct, but it is also important for their morale. On-going battles about correcting pay do little to improve staff motivation, no matter how much employees love their jobs. If companies are using out-of-date or inefficient payroll systems that no longer meet their needs the Business Buddy team have a few ideas to help businesses find an effective replacement.
One of the first things they will recommend is that people talk to their accountant about cloud-based software that best suits their business needs. Ideally they should opt for payroll software that is compatible with their accounting software such as Xero. Employees working on-call, doing overtime or with variable rostered hours can be challenging to keep track of and cloud-based systems can let staff track their time anywhere, which is handy if they are not based in one workplace.

One size does not fit all, so there are cost-effective options as some systems work better for small businesses employing less than ten staff, and additional costs such as set-up and bank fees need to be considered. For staff being paid at various intervals Business Buddy recommend their flexible system, and businesses that pay commissions or on receipt of invoices from subcontracting ‘staff’, such as real estate firms, can have this function included in many cloud-based systems. This can be combined with regular wages or salary payments.

Some software companies provide a comprehensive service that includes data entry and businesses simply send them the pay-sheets with any changes. For a company that doesn’t have the resources to complete data entry, out-sourcing can be a good option. Also, when changes occur to payroll law, such as changes to ACC levies, annual leave regulations or income tax rates, cloud-based systems automaticall8y update. There is no need for administrative staff to be legal experts when the software makes the changes and there is no risk of making errors that could incur fines or upset staff.

Using a spreadsheet on a home computer without any back-up leaves small businesses  in a vulnerable position if their computer crashes. Cloud-based systems have IT support that keeps payroll information secure and accessible to the right people at the right time. To determine if there is a better way your business could manage its payroll system contact the team at Astill Hawke and Associates now, and for more information on Business Buddy go to http://www.businessbuddy.co.nz.