Here is a quick list of the top 10 payroll mistakes some of our past students (now bookkeepers suggested);
Top 10 Payroll Pitfalls to Watch For
- Calculating and withholding the correct amount of tax from employee wages.
- Keeping track of superannuation (pension) contributions for employees.
- Ensuring compliance with state-specific payroll tax requirements.
- Managing leave entitlements, including annual leave, sick leave, and parental leave.
- Processing employee pay increases and salary sacrifices.
- Calculating and paying employee overtime correctly.
- Managing employee expense claims and reimbursements.
- Implementing and maintaining award classification systems.
- Processing employee terminations and final pay calculations.
- Keeping up to date with changes to payroll legislation and requirements.
Want to keep up to date in payroll? The Applied Education Payroll Administration in Australia course helps you navigate common payroll issues and avoid potential pitfalls. This online short course includes detailed tutorials, click here for details.
