02 / 12 / 2016
- 3 Payroll Planning Tips for Year End
- Our Hours
With Christmas fast approaching, it can be easy to overlook your payroll requirements, so here are our quick 3 planning tips for a seamless End of Year.
1. Planning Ahead
Sometimes at this time of the year, payrolls require processing in advance or you may need additional payrolls altogether. You can plan ahead by doing your payrolls in advance and ensuring system features such as pay codes, new employees and leave management are up to date (see instructions or contact us if you need help with this).
2. Keep Us Informed
It’s important that we are made aware of any special requests such as system adjustments as soon as possible. Knowing of your requirements in advance will help us assign the resources necessary during this time.
Most clients are set up to ensure that leave payments will not go negative, so it is important that you are aware of employee’s leave balances and that you contact us if you need to override this.
3. TNA Limits
Christmas can usually bring extra payments like multiple weeks leave, bonuses or ad hoc payments. It’s important to know that these payments can result in breaching your TNA (Transactional Negotiation Authority) limit when your super payments and PAYG Tax payments are taken into consideration.
If you expect that you might exceed your TNA limit, get in touch with your bank Account Manager for more information on a temporary increase to your limit.
Because this can take a couple of weeks to work its way through the system, it’s best to plan in advance.
It’s also important that your bank communicates any increases in limit to our entry portal into the banking system, Westpac Direct Entry.
Note: Clients paying super by DDR are not impacted by TNA limit issues.
We operate every working day of the year except national public holidays. Our normal times are 8.30am to 6.00pm (EST).
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