Top

Payroll Health Check

CFO for a Day | MWM Advisory

Do you run payroll for your business?

Maintaining a payroll and complying with the rules and regulations is complex. If you get it wrong, you can end up facing penalties, extra costs and legal claims from employees.

To help support you in today’s complex payroll environment, we’ve developed the Payroll Health Check.

Screen Shot 2017-04-20 at 2.19.05 pmWhat does the Payroll Health Check include?

For a fixed fee we’ll complete a detailed 16-point Payroll Health Check that will identify areas where you are at risk, including the following:

  • 1. Keeping all the required employees’ information on record
  • 2. Paying your employees the right amounts
  • 3. Calculating your employees’ net pay, PAYGWH and superannuation correctly
  • 4. Recording and calculating your leave entitlements properly
  • 5. Preparing payslips correctly with all the correct information, such as salary sacrifice and fringe benefits
  • 6. Utilising the employee portal through your payroll software where possible
  • 7. Paying your PAYGWH on time and submitting your returns electronically
  • 8. Paying your superannuation on time and complying with SuperStream
  • 9. Paying your payroll tax and submitting your returns electronically
  • 10. Recording your payroll properly in your accounting system
  • 11. Verifying the payroll information matches your accounts including the general ledger and payroll clearing accounts
  • 12. Preparing and distributing payment summaries to employees on time
  • 13. Preparing and submitting your annual payment summary report on time
  • 14. Preparing and submitting the annual wages declaration for workers compensation
  • 15. Ensuring you comply with the grouping provisions and interstate payroll tax obligations
  • 16. Preparing and submitting the annual return for payroll tax

 

To find out more or to book your Payroll Health Check, call 07 5596 9070.