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Payroll WOF puts payroll fitness to the test
When the company’s HR Advisor, Carol Cowling, heard that MYOB offers a Payroll Warrant of Fitness (WOF) to its Exo Employer Services customers, she thought it would be beneficial to have a fresh pair of eyes – provide Payroll peace of mind by doing a mini audit of their complex Payroll process.
Background
AICA Asia Pacific manufactures high-performance adhesives and surfacing solutions for wood working and other industrial and retail applications. It’s a 24/7 operation, employing a mixture of full time and shift staff, along with sub-contractors and casual labour. AICA had been using MYOB payroll software since 1999.
Creative payroll
AICA push the limits of standard payroll processes to give their employees additional flexibility and employee benefits. “We’re a little bit creative as a company and we do things as an extra benefit that the payroll is not specifically configured for,” says the company’s HR Advisor, Carol Cowling.
“For example, we give our day staff the opportunity to purchase additional leave. Our shift workers get an additional 14 days per year over and above the Holidays Act requirement, and we offer the day staff the option of purchasing an extra week’s leave, which we do as a deduction on each pay run.”
AICA also makes extensive use of flexi-time for working public holidays, and pays a range of varying allowances to some staff. The Holidays Act lays out strict conditions on holiday pay, and the tax laws related to payroll are also rigorously enforced as well as being frequently amended.
"I felt it was time we had a fresh pair of eyes looking at it. I’ve been with the company 28 years and I felt that while the trust level was there, I wanted to be sure that everything was trustworthy"
A fresh pair of eyes can provide Payroll peace of mind
Exo Payroll WOF uses a 42-point checklist that MYOB payroll consultants use to determine whether a company’s payroll is fully compliant. The two-hour check and can be done on-premise or remotely.
“The WOF check came up with quite a few things I hadn’t picked up on and cleaned up a lot of historical stuff that we no longer required,” says Carol. “It helped ensure we were paying the correct rates for holidays. It was very worthwhile.”
The check-up also made some changes to default IRD payments. Carol
learned something she hadn’t known previously: MYOB’s payroll software
automatically checks the default rate for KiwiSaver payments, ensuring
it’s always correct.
"It helped ensure we were paying the correct rates for holidays. It was very worthwhile"
Payroll Peace of mind
Carol recommends Payroll WOF to other companies and says the check-up should be done at least every two years, regardless of whether any problems are suspected. “The biggest value for me was peace of mind,” Carol says. “It validated the fact that our payroll was largely clean and we only required a few little setting changes. It was also a very cost-effective exercise.”
“WOF outcomes provide clarity and it’s good value for money because if you pick up something, it’s a lot easier to fix it. I also like its flexibility – we did ours over several short sessions rather than all in one go. It’s a very effective way for me to keep up to date and they provide comprehensive notes that are an extremely useful reference source,” says Carol. “We’ve had no compliance issues since we installed MYOB’s payroll system and I think it runs smoothly because of the strong support we get from MYOB.”
After
- Great to have a fresh pair of eyes to provide Payroll peace of mind
- The WOF check came up with quite a few things I hadn’t picked up on and cleaned up a lot of historical stuff that we no longer required.
- The WOF check-up also made some changes to default IRD payments.
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