Payroll Slips – Things you should know!

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What are the pay slip obligations?

Pay slips must be issued to each employee:

  • within one working day of pay day, even if an employee is on leave
  • in electronic form or hard copy.

It is best practice for pay slips to be written in plain and simple English.

What information must be included on the pay slip?

  • The employer’s name
  • The employer’s ABN (if any)
  • The employee’s name
  • The date of payment
  • The pay period
  • The gross and net amount of payment
  • Any loadings, monetary allowances, bonuses, incentive-based payments, penalty rates, or other separately identifiable entitlement paid.

Additionally, where relevant, a pay slip must include other items. For further information please see the link below…

http://www.fairwork.gov.au/about-us/policies-and-guides/fact-sheets/rights-and-obligations/record-keeping-pay-slips#What-are-the-pay-slip-obligations

Take The Next Step – Xero Conversions

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Xero conversions is affordable and simple, it offers some great benefits and we have made the process as easy and painless as possible. Convert your data from other accounting software to Xero.

ResQ Bookkeeping  offer a  conversion service that makes converting your old account file easy!

You will have your Xero file up and running  including your  Invoice branding and your Chart of Accounts and may other features that are easy to use!  Ongoing support also include.

If required, we offer a full review and clean-up of your file first . This includes removing old contacts and employees, ensuring the bank accounts are reconciled at the conversion date that you have requested and making sure that the chart of accounts reflects what you want to see in your Xero file.

 

To get started with Xero today!
Call Lissa on
0412 930 708

Nil Activity Statments Must Be Lodged.

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A “Nil “Activity statement is an activity statement the has nil amounts.

Nil” Activity Statements are usually only seen in instances where:
– A business has not yet commenced trading, they have no input tax credits to claim and  has no employees, or;
– A business no longer has any employees, or is no longer trading and has no input tax credits to claim.

One of the range of service ResQ Bookkeeping has to offer is Quality Assurance Review of Activity Statements.

If you report and pay monthly, the due date is usually on the 21st day of the following month. If the due date is on a weekend or public holiday, you can lodge your form and make any payment due on the next business day.

Quarter Due date
1 – July, August and September 28 October
2 – October, November and December 28 February
3 – January, February and March 28 April
4 – April, May and June 28 July

To find out more on lodgment date visit the link below.

https://www.ato.gov.au/business/activity-statements/lodging-and-paying/due-dates-for-lodgment-and-payment/

What is Bookkeeping?

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Bookkeeping is a growing profession – it is demanding, exciting, challenging and above all, rewarding. It is about understanding how a business works and then providing accurate figures that enable the business to know exactly how well it is doing. For men and women of all ages and from all backgrounds it provides outstanding career opportunities.Bookkeeping involves the process of recording, analysing and interpreting the financial transactions of a business or individual. The discipline of bookkeeping accounts for a large proportion of the accounting process.

For more info visit the link below

http://www.icb.org.au/About-Bookkeepers/What-is-Bookkeeping

 

ATO Penalties

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ATO Penalties

The ATO has been imposing very hefty fines on anyone not lodging their BAS on time.  Fines of $340 per late BAS have been issued recently.

The ATO have also been issuing garnishee notices (where they take money straight from your bank account) where you have not paid your outstanding tax bill and have not arranged and kept up to date with a payment plan with them.  It is important to communicate with the ATO where you are having difficulties in paying your tax.

Any Business owners who are finding it difficult to prepare and lodge their own BAS on time, please contact me for  assistance. on 0412 930 708  . It is important that all  to remain up to date with on time lodgement of their BAS, IAS .

FREE Health Check on your Accounts File

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 No Obligation
  • Free, No Obligation meeting to review your file
  • Complete a Health Check of the Account Data Files
  • Report of Assessment on File.
  • Review Current Systems and Advise.

For your FREE Accounts Health check please call Lissa 0412 930 708

MYOB PayDirect

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How it works

Taking card payments with MYOB PayDirect is as easy as 1 – 2 – 3.

1. Connect and sign in

Connect the Reader to your phone using Bluetooth® and sign in to the PayDirect app.

2. Transact

Enter the transaction on your phone, then the customer inserts their card and enters their PIN.

3. Get paid

Email or SMS a receipt to your customer. The money will be in your nominated account in a day or two.

For more information please visit the MYOB website below…

http://myob.com.au/paydirect-1257831727970?utm_source=google&utm_medium=cpc&utm_campaign=AU:BD:HeroTerms_lEl&utm_term=myob%20pay%20direct

Xero Roadshow 2014

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Xero Raodshow

?Enter the world of the Xero Add-on ecosystem and discover how to grow your practice into new vertical markets. Across four sessions in one day, our October Roadshow will open your mind to what’s possible – register here.Sydney Wednesday, 29 October, 2014

Adelaide Tuesday, 14 October, 2014

Perth Thursday, 16 October, 2014
Canberra Monday, 20 October, 2014
Launceston Tuesday, 21 October, 2014
Melbourne Wednesday, 22 October, 2014
Brisbane Thursday, 30 October, 2014

Sydney Wednesday, 29 October, 2014

For more info… https://www.xero.com/au/roadshow/

Directors Penalty Notice

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Director penalty notices

Company directors have a legal responsibility to ensure that their company meets its pay as you go (PAYG) withholding and superannuation guarantee charge (SGC) obligations.

The director of a company that fails to meet a PAYG withholding or SGC liability by the due date automatically becomes personally liable for a penalty equal to the unpaid amount.

When a PAYG withholding or SGC liability remains outstanding, we may issue a director penalty notice, although this is only necessary to enable us to start legal proceedings to recover the penalty. Even without issuing a notice, we can collect the penalty by other means, such as withholding a tax refund.

Please visit the below link for more info…

https://www.ato.gov.au/Business/Payments-to-ATO/Difficulty-paying/What-if-you-can-t-pay-your-tax-/Stronger-measures/Director-penalty-notices/