Category Archives: Payoll

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4 Gifts Every Business Owner Wants For Christmas

The days until Christmas are rapidly counting down. Have you thought about what to get for the busy entrepreneur or business owner in your life?

So what does a time poor, driven person need? They need something that will make their life easier. Or, maybe it’s you! Are you are dreaming of presents from Santa that will take all of your cares away? Feel free to share a link to this post with your friends and family. (Hint, hint) Go on, treat yourself!

  1. Peace of Mind with Payroll and Staffing –

This may seem like an impossible fantasy, but with modern cloud-based accounting tools, this is more achievable than ever. Every business owner knows that the ‘silly season’ can quickly become the ‘stressful season’ without careful planning with their staffing. It is important that extra work equates to making more money. One way to achieve this is by keeping on top of accurate accounting for payroll.

We recommend going paperless with employee onboarding for new and casual staff during the holiday period. Ento is a cloudless employee fostering and onboarding system.

Each new hire has the ability to join the team with a digital onboarding experience. It is optimised for mobile so employees can get themselves sorted on a smartphone or tablet. This allows each staff member to become part of your workforce in a way that suits them. This is a gift that any business owner would love to see under their tree at Christmas.

Another way to put a smile on a business owner’s face is getting rid of clunky spreadsheets when scheduling staff. This means less employee phone calls to check the roster or miscommunications in between updates on the document.

Tanda is a rostering and time management app that allows for all of this and more! Tanda is cloud-based, real-time and connects to your point of sale system to capture all your staff’s logged hours. Any registered staff member can clock on and off from any POS terminal. This creates consistency in reporting and all staff are accountable for their hours.

During the holiday rush predicting how many staff to roster per shift can be difficult. In this respect, Tanda is the gift that keeps on giving. Much like Santa, Tanda is always watching! It uses algorithms to predict schedules. This software also has seamless payroll integration, so when it comes time to pay staff, this is one more step a business owner doesn’t have to worry about.

  1. An Online Accounting Subscription

If the business owner you are buying for has been extra good, a subscription to an online accounting system such as Xero, Myob or Quickbooks is the icing on the Christmas cake. Using a cloud-based accounting system that allows for quick reporting, seamless payroll, and budgeting information.

The accounting solutions mentioned above are all great options. If you have questions, it is best to speak with one of Santa’s little helpers, a trusted accountant. If you have any questions we are always happy to help.

  1. A Great Point Of Sale System

A point of sale system is a seamless combination of software and hardware that gives businesses the ability to make transactions and simplify key day-to-day business operations. ‘Simplify’ is the key word in that statement. All business owners smile when they know exactly how much they are selling of particular products or service when they are being sold and what their margins are.

A good point of sale system can help them do that and more! Square is a popular solution on many Christmas lists this year. The free Square Point of Sale app has tools to help good little boys and girls manage sales reports, send receipts via email or text message, integrate with Quickbooks or Xero and manage inventory in real time.

Vend is a homegrown POS solution that is also popular under the tree this year. This app works on iPad, Mac or PC, works offline, can easily add a discount or notes for staff use and provide history on laybys and account sales. Stay off Santa’s naughty list and this could be under your tree this year.

  1. Coffee

Every business owner knows that passion is what drives them and gets them through the ups and downs of business. And the, when passion wears thin, next in line, is coffee. Because Santa loves people who love the environment we recommend getting your favourite business owner a KeepCup or Frank Green reusable cup to keep them fuelled and the environment clean.

And if you or your business owner has been exceptionally good this year you might consider signing them up for a coffee delivery service to ensure they never run out of that dark brown elixir of life.

Start Next Year In The Black

We wish you a Christmas that puts your business in the black. If you or your favourite entrepreneur want to make the most of the holiday season it might be best to invest now. Christmas can come early.

 


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3 Ways For Hospitality and Retail Businesses To Maximise Profits During The Holiday Season

The holiday season is a fantastic time of the year. For most of us, this means food, family and holidays. For those of us in the retail and hospitality sector, it means all this and more. It is a busy time and staffing, wages and stocking can put extra stress on business owners and managers.

We know that problems with increased competition, food waste and changes in food trends are things to be aware of when maximising profits. This makes the busy holiday season critical to ensure that your business stays in the black. We know that your industry is competitive and profit margins can be tight.

We recommend three ways to maximise your profits and keep your sanity.

1. Use A Staff Rostering System

Do not rely on a spreadsheet that relies on people putting in information. Tanda is an integrated rostering and time management app with a few twists to keep things fresh. Tanda is cloud-based, real-time and connects to your point of sale system to capture all your staff’s logged hours.

Tanda’s can sync to your POS to capture all your staff’s logged hours. Staff can clock on and off from any POS terminal, ensuring your staff is accountable and you can track who’s working when.

If you need help with predicting how much staff you will need per shift, Tanda can help there too. The software uses algorithms to predict schedules. This software also has seamless payroll integration, easy employee onboarding and automated award calculators for hospitality Award rates set by Fair Work Australia.

2. Paperless Employee Onboarding

You might need to hire extra temporary staff to cover the workload. Another great option is Ento, a paperless employee rostering and onboarding system. This system has easy ways to onboard casual hires for the busy holiday season.

Your new hires have the ability to join your team with a digital onboarding experience. It is optimised for mobile devices allowing staff to manage every step of their onboarding from a smartphone or tablet. Another bonus is Ento’s digital contracts. Going paperless saves time, reduces errors and eliminates lost documents. Digital signatures allow your new hires to quickly sign all contracts and policies.

3. Start Your Financial Planning Now

October is the time to start planning your December. Speak to a trusted accountant to plan the financial targets you need to hit to maximise your profits during the busy season. Looking at your sales from last year can help project what your upcoming holiday period may look like. Problem areas such as extra staff costs or food waste can be reduced if you start early.

Interested in maximising your profits this December? Now is the time to book in for a free consultation with us.

We look forward to making this season your best quarter yet!


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Do You Owe Payroll Taxes On Your Contractors or Subcontractors?

Category : Accounting , Bookkeeping , Payoll

There are lots of things to consider as the end of the financial year gets closer. Especially for dynamic businesses where staffing can take a variety of forms.

Contractor or subcontractors are important during busy periods or to cover staff when they are away or ill. Sometimes the line between contract and full-time employment can get blurred.

There are different rules for each state around what constitutes permanent employment. There are some key questions to use as a guide to understanding when a contractor or subcontractor starts looking like a full-time staff member according to employment law.

This can become a grey area, take the quiz below to help you gain clarity!


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Single Touch Payroll (STP) – An ATO initiative to simplify your payroll system

What is Single Touch Payroll?

Single Touch Payroll is a Pivotal moment for both ATO and Employers. It is the biggest payroll reporting change in Australian history for all Employers. STP is a method of reporting Payroll data electronically to the ATO. It will enable employers to report payments such as wages and salaries, PAYG Withholding and Super Information directly to the ATO at the same time when employees are being paid.

Who is affected?

  • STP reporting framework will be mandatory from 1st July 2018 for Business with 20 or more employees. It is important to note that Employer needs to do a headcount by April 1st 2018 to determine if they have 20 or more employees.
  • STP is optional for employers with 19 or less employees as it is not required at this stage, but they can report voluntarily by using updated payroll software.
  • Employers with 19 or less employees have another year to prepare, however from 1st July 2019 employers will need to Start Reporting through STP. This will be subject to Legislation being passed in Parliament.

STP TIMELINE:

To know more about STP and how it may impact your business contact us on 1300 360 749 or click here for contacting a consultant.