An enterprise solution to smooth payroll compliance
With the advent of payday filing in NZ, the payroll compliance landscape has become more complex than ever. Luckily, the right technology exists to make sure paying staff is a breeze for enterprise-level businesses.
At its most basic, paying your staff should be simple – your team puts in the hours, you hand over the cash. Anyone who’s run a business will tell you straight away that it’s far more complex than that.
Even aside from the systems needed to record hours and pay out correctly, governments overlay complexity that needs to be factored in, too – this might include award agreements and leave, superannuation funds, varying levels of taxation, and reporting.
Safe to say, navigating payroll is a complicated business.
At the same time, software developers have been working tirelessly to design solutions that take much of that administrative burden away, while also ensuring your business stays compliant. They can automatically send data down the line, and make certain pay runs are calculated using correct and up-to-date information for time worked, leave and deductions.
Implementing such a solution means you can also have every aspect of payroll taken care of, including leave-loading, overtime or penalty rates.
Ideally, the right software will scale as your team grows, and should be housed on one integrated platform (as in, it doesn’t rely on third-party apps). The final result for you? More confidence in your numbers, less risk of becoming non-compliant, and far fewer manual fixes.
Cloud-based solutions keep up with moving goalposts
Cloud-based solutions, also known as software-as-a-service (SaaS) are especially powerful when new legislation like payday filing comes into force.
For some businesses, these compliance changes can often feel like the goal posts are changing constantly – you finally establish systems to cope with one set of rules, only to have them change on you.
But when the software is constantly updated to meet these changes, as it is with the likes of MYOB PayGlobal, staying compliant feels almost seamless.
At least, that’s the experience of Invercargill City Council’s payroll operations.
With approximately 500 staff to pay – some monthly, most fortnightly – the organisation requires a lot from its payroll software. The organisation’s payroll team, Noel Spiers and Fiona Greenwood Black, said they had no trouble meeting recent payday filing changes on time, thanks to PayGlobal’s compliance functionality.
Managing the biggest shift since GST
At the beginning of April, the New Zealand government implemented its biggest payroll compliance change since GST increased almost 20 years ago.
Employers are now required to file an employee’s payroll information every payday instead of monthly.
MYOB PayGlobal already had the capability to manage payday filing – automatically generating the report and filing it directly with Inland Revenue. So, for the council team, the first step to get to payday filing was to upgrade their existing software to adopt the compliance functionality.
Then it was a matter of implementing payday filing and monitoring the system for any errors – and Greenwood Black said there were many fewer than expected. Those they did spot were corrected immediately.
“We’ve found the compliance upgrade good. The solutions team always comes back to us with an answer – although we might not necessarily like the answer,” she joked.
Spiers and Greenwood Black both actively recommend PayGlobal to their peers, and the simplicity of the user interface is part of the reason why.
“PayGlobal is user-friendly, quite logical, easy to navigate your way around and figure out what to do. We have a lot of varied, complex employee agreements,” Greenwood Black added.
Looking down the track, she said adding to the payroll team will be simple because PayGlobal will make it easy to get them up to speed.
“It’s very clear what is required.”
Support from MYOB was invaluable in the lead-up to the compliance change.
“At no point did I feel like I didn’t know what was happening,” said Greenwood Black.
She said the team did a marvellous job, considering the process was further expedited for the City Council after they were opted-in early.
Payroll compliance made simple
Navigating payroll doesn’t have to be as complicated as you think. As Invercargill City Council can attest to, with the right software, dealing with legislative changes can actually feel seamless.
PayGlobal automatically generates and sends reporting through to IRD, to keep companies compliant with new regulations.
The wrap-around support from MYOB, plus the easy user interface, complete the picture – an error-free, automatically compliant payroll system, whatever new legislation throws at you.
From award agreements and leave, to PAYE and Kiwisaver, navigating awards is complicated. MYOB PayGlobal reduces the burden of compliance by automatically sending data down the line. Click here to find out more.