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The Advantages of Cloud Payroll Services

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The Australian workplace laws are some of the most complicated in the world.

Modern Awards govern almost all industries in Australia. As a result, organizations spend countless hours ensuring their payroll processes comply with award regulations.

A manual process, which combines the laborious task of managing payroll resources with countless hours, has been proven inefficient in Australia’s context of payroll regulations.

Despite all this, you cannot be sure that your compliance is 100%.

You don’t want to fall into non-compliance with the Fair Work Commission’s shame and name policy.

What is the solution? What can you do to ensure compliance with your payroll process?

Cloud payroll software can help you simplify your payroll process.

Cloud payroll software offers many advantages when choosing the right solution for your company. We will discuss the benefits of cloud payroll software and how it can benefit your business in this blog post.

Risks of non-compliance

Employers have a lot of work to do when navigating the complex combination of National Employment Standards and Modern Awards. Unfortunately, Fair Work’s annual wage review and the frequent Award adaptations make it nearly impossible to use your spreadsheet to cover every Modern Award.

A wrong move could result in severe penalties and a widely publicized media release about Fair Work.

Woolworths is one example. They were exposed to significant underpayments by salaried managers.

They’re not the only ones. Many other businesses, even small ones, continue to violate payroll compliance (intentionally or unintentionally), including cafes and hairdressers.

There are some risks:

  • This includes areas like casual employee loading or penalty rates.
  • Underestimated leave entitlements
  • Wage theft is a severe problem.
  • Poor record keeping.
  • Inefficiencies

Without a centralized cloud payroll platform, many inefficiencies exist beyond the risks of manually managing and interpreting pay conditions.

Manual rosters can be created using spreadsheets

Copying and pasting hours’ worth of timesheets into your payroll program is a good idea.

Manually checking payslips to ensure there are no information errors

Collecting leave requests and manually ensuring employees have enough left in their entitlement balance.

Manually adjust leave entitlements

There are many checks and balances among the relevant departments.

Organizations that use manual processing systems can spend many days prepping for the pay cycle. This eats up time and resources that could be used to grow your business.

Cloud payroll software such as KeyPay or Employment Hero allows your company to automate calculating and submitting payments.

Cloud payroll solutions can typically be used to accomplish tasks such as:

Rostering

  • Leave management: Tracking leave entitlements and approving leaves requests
  • Superannuation payments
  • Single Touch Payroll reporting,
  • Automated pay runs in compliance with payroll legislation
  • Distributing payslips to employees (including historical payslips)
  • Reports generation for all compliant payroll information.
  • payroll data record-keeping,
  • Automatically interprets Modern Award pay conditions
  • Integration with accounting software like Xero

Cloud payroll software, in other words, is designed to reduce errors and manual processes and increase compliance.

Cloud-based payroll software allows employers to rest assured that all entitlements and pay conditions will be met during every run.

Modern Awards are constantly changing, so updates can be made quickly and automatically added to the software. In addition, employees receive all their pay entitlements. No more worrying about missing penalties and allowances.

A cloud-based automated payroll solution can also be used to approve pay runs and payroll reports at one level. Again, this saves time and effort.

A centralized cloud payroll system and roster system eliminate manual rostering. Instead, employers and employees can communicate with each other and adjust their availability by creating a roster using cloud payroll software.

Many software solutions also offer employees access to their self-service portal to view their pay slips and request leave.

Finally, cloud payroll systems can automate record-keeping, reducing time and increasing the payroll department’s productivity. All your records are protected and stored in a secure cloud server. This makes them easily accessible in case of Fair Work audits.

Pay Cat has decades of experience in Australian payroll compliance. They also have the expertise to assist organizations with minimizing the risks associated with manual payroll processes.

We help businesses and organizations make the transition to a Cloud Payroll Solution. This involves configuring and securing the software that meets all your requirements and compliance with payroll regulations.

We recommend using time and attendance software such as NoahFace to streamline your payroll software India and rostering processes. This will allow you to keep track of hours worked. Integration with cloud payroll software is seamless, allowing businesses to manage their labour budgets and track real-time data.

We have determined that cloud payroll is the most effective solution to make things easier for HRs now and in the future.

Who doesn’t appreciate hassle-free, accurate payroll processing? If you do, go one step further and acquire a reliable payroll processing system for your business.

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