Blog Article

Single (One) Touch Payroll – All that you need to know

There is a lot of talk going on around this at the moment.   Everybody has to jump on board from 1st July 2019.  Here is what you need to do:

  1. Check if your software can handle it:
    1. If you are using Xero software, you don’t have to do anything extra…payroll is included in the standard package.
    2. Agrimaster users will need to buy Wagemaster package – which is an add-on to Agrimaster and not too expensive.
    3. MYOB, Intuit and Reckon have a $10 per month add-on product (but check first, because some of you may be on a package that includes payroll already).
  2. If you don’t have any of these computer programs, you can access the government cheap stand-alone options ($10 per month or less), namely:
    1. Cashflow Manager
    2. Epayroll
    3. Single Touch Pty Ltd
    4. Cloudpayroll Pty Ltd
    5. AccXite Pty Ltd
    6. Free Accounting Software Pty Ltd
    7. (there are more software providers to come, but they haven’t been approved by the ATO yet)
  3. Once you have chosen your software provider, install the program and set up the payroll system (or get us to help you with it).   You will need the employees’ full details – name, address, telephone numbers, emergency contact numbers, tax file number, the date they started working with you, leave balances etc…

Then, start using the program to run the pays now…so you can get used to it before 1st July comes along.  That way, we can iron out any bugs before you go live on 1st July 2019.  The most difficult bit is installing the add-on and inputting all the employees’ details all over again (you probably have a book somewhere with all this in).   Also, some programs will require timesheets (if the pay varies with overtime or extra hours worked etc).

It actually is a positive thing, because it will make the production of Payment Summaries (previously called Group Certificates) easier, it will work the tax and super out for you…plus it will also help with tracking leave and hours per employee…avoiding any unpleasantness when it comes to taking leave or calculating final pays.

So, don’t dilly-dally…get into it and call us if you get stuck.

WordPress Lightbox Plugin