With the start of the new financial year upon us now is a good time to consider if your payroll system is fit for purpose.
The wage bill is often a large part of a business’ expenses, with wide financial and legal obligations,so is an extremely important area to monitor and get right.
Modern payroll systems can complete powerful in depth reporting of your wages to give you the information you need to grow your business. For example you could track your wages across multiple projects to ensure costs are accurately captured and you have your finger on the pulse when it comes to the allocation of employee’s time.
There are now a wide range of options for payroll systems on the market. The best choice for your business will depend entirely on your individual circumstances. David Bellinger, our Accounting Software Manager, is able to discuss your needs with you and help you choose the package that fits your business best and we have knowledgeable staff available to help implement your chosen system.
One of the current offerings is Xero Payroll. Released in April 2015, Xero have worked hard on enhancing Xero Payroll and thousands of businesses, accountants and bookkeepers are now using it every month.
The Xero Payroll package has matured over the previous 12 months since the first release, benefiting from a frequent cycle of product updates and enhancements. You can now run final pay and transaction reports, get calendar overviews showing birthdays, leave, holidays and pay runs, and customise logos and photos. Xero have included features like timesheets, leave balances, and employee self-service in the Xero Me mobile app.
WK Advisors and Accountants are a Platinum Partner with Xero and this allows us to provide you with relevant and future focussed reporting for your business. Please contact David for an initial discussion about how we can help you.
Authors: David Bellinger and Joe Sims