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Streamline Payroll

Streamline Payroll

Payroll can be a challenging task for many companies, especially for small business owners. If you are a small business looking to streamline payroll services, you can use QuickBooks Payroll for peace of mind and to ensure you’re compliant with the law. 

Benefits of streamlining payroll

For a happy workplace, you need to ensure you pay your employees correctly and on time. The simplest way to achieve this is by streamlining payroll. 

Streamlining a payroll process is all about integrating your processes to reduce the amount of work you have to do. It's about having a payroll system that handles employee onboarding, stores employee data, manages employee payroll, and integrates with your accounting software. You can also easily manage employee benefits and organise employee time to approve leave, assign roster shifts, and approve shift requests. 

Payroll can be expensive as there can be many hidden costs associated with it. For example, if you outsource payroll, the firm could incur additional costs. If you handle it in-house, there could be forms and procedures you aren't familiar with and omit - which can be detrimental in the event of an audit.

How to streamline your payroll process 

For larger businesses, the option to outsource your payroll could be the best choice. It's efficient and cost-effective, allowing you to focus on your business. While many businesses use an outside agency to handle payroll, with a streamlined process you can integrate some of the benefits of outsourcing into your system. 

Reducing the frequency of your payroll cycle is an effective way to streamline the process. While many businesses pay weekly or fortnightly, moving to a monthly payment run can reduce the amount of time you spend processing payroll. 

When you streamline your payroll process, you also don't need to employ a team to manage timesheets. Your team can complete and process their own timesheets themselves. All you need is to approve them. This is not only time efficient but also reduces the risk of incorrect timesheets. 

Grow Your Business with QuickBooks

Here are other ways to streamline payroll: 

  • Use automated workflows to manage data entry, as well as handling pay errors, employee bonuses, missing pay, overtime payment, or time off requests
  • Integrate employee benefits (like superannuation or maternity/paternity leave) into your payroll system
  • Create checklists and control systems to help you minimise errors
  • Get your employees involved. You can use payroll software with employee self-service solutions
  • Connect your time-tracking to your payroll system
  • Use automated payments

Payroll Software that helps you streamline your payroll

QuickBooks Payroll powered by Employment Hero is the best cloud payroll software that can help you get all of the benefits listed above when you decide to streamline your payroll. QuickBooks payroll software is also ATO and STP compliant and includes an employee self-service solution. This will allow your employees to update their personal details, request and view payslips, review documents, and you can also access easy-to-use templates when planning your roster schedule.

Take the next step and start streamlining your payroll. You can schedule a free payroll setup session with one of our experts to find out more. 

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