Nowadays, there are very low-cost payroll software packages for small businesses. And one of the most popular is the online payroll services. These are very efficient and user-friendly. They do not require much time to learn how to use them, because the control panel includes specific instructions for every feature. Usually, online payroll services provide free trial period for checking the features and functionality before buying them. So, to save your time and money, it is recommended to check the best cheap payroll software Australia first.
If you are looking for the best payroll software packages in Australia, you can get more info here. For small business owners, having an easy-to-use payroll software Australia for your employees is essential.
Smart Payroll
Smart Payroll is a cloud-based payroll system that is quite popular in Australia. They bring their 10 years of payroll expertise into this solution.
The system keeps you updated about the correct tax slabs so that no mistake is made. It allows you to automate the process of directly depositing payments into the employee’s account.
Besides, the system is fully backed up so that you don’t have to stay worried about losing the data.
Features
- Generates detailed reports as per your business needs
- Enables employee self-service through its MyPay app
- Offers full support to all its customers
Zoho Payroll
Calculating employees’ salaries and paying them on time is one of the critical business processes.
The process of calculating pay includes deducting tax, maintaining compliance, counting the number of days/hours worked, and more. Such calculations are prone to human-made error if done manually.
The best solution is to automate the entire payroll process using payroll software.
Payroll software is a set of applications that are designed to automate payroll processes. It helps with accurately calculating the payroll of each employee and disbursing the amount on time.
You can use payroll software as a standalone solution and integrate it with your accounting software. Or, in some cases, an advanced accounting solution offers payroll processing as its add-on functionalities. But that comes with its own restrictions.
Every business has its own unique needs. That’s why you should choose the one that fits your requirements.
There are hundreds of vendors in the market, and having too many options can confuse you. To help you narrow down the list, I have listed the top 11 payroll software that you can consider using.
MYOB
A simple, fuss-free payroll software system, MYOB can be your partner in processing payroll for a small or medium business. MYOB allows you to process pay for an unlimited number of employees and comes free with an ‘Account Right’ Subscription. Though not as feature-rich as Xero, MYOB still covers the basics that you need to facilitate pay runs accurately and efficiently:
- Helps you fulfill all your basic employer obligations: Superannuation, PAYG, and Payroll Tax. Changes on these rates are also automatically updated so you can be sure that all wages are calculated accurately all the time.
- Automatic journal entry and matched expense with your bank feeds.
- Automatic calculation of leave accruals, with an option to pay leaves in advance.
- Allows you to set user controls as to who can record and authorise payments, with a secure process of authorising payments.
- Meets industry best practice in terms of compliance and security.
- Print and email payslips.
- Employees can access real-time timesheets for time tracking on certain jobs, and employers can send these as invoices to their clients with time billing.
ELMO
ELMO offers an integrated payroll and HR system to help you manage all your employee-related tasks. This integrated platform aims to increase efficiency and reduce operations costs.
It allows the onboarding process to seamlessly flow into payroll. Thus, it eliminates the need for additional data entry or transfer. Besides, the system ensures that you effectively organize your timesheets and pay your employees on time.
Features
- Offers a secure and compliant-ready payroll
- Allows you to generate in-depth reports to help you make smart decisions
- Very easy to install and use
Xero
Xero offers an integrated payroll system with its accounting software. However, it comes with a full-fledged functionality of a payroll solution. It automatically keeps updating the amount pending to be paid, which you can view from your accounting solution.
It provides tools to track the number of hours worked by each individual and keep records of the number of leaves taken. Besides, it can be accessed from any device – desktop, mobile phones, and tablets. It syncs the information in real-time.
Features
- Has an intuitive and clean interface for the ease of use
- Makes it easy for employees to apply for leave or view their payslips
- The system is SuperStream compliant
Payroll Metrics
Backed with 22 years of payroll software development in Australia, Payroll Metrics has developed a new generation payroll and workforce management software guaranteed to improve business efficiency and reduce operating costs. For those companies who want to be at the forefront of the industry, Payroll Metrics is the best choice to manage payroll processes in a progressive level. From its comprehensive set of features, here are the highlights:
- Provides smart reports to ensure that there are no errors or underpayments.
- The pay adjustment module automatically dispatches a one-time EFT deposit when transaction is authorised.
- Control Measure – When the payroll cycle is finalised, the software obtains request from the payroll authoriser, then creates a record of the authorisation made to complete the cycle.
- Upon authorisation, all deductions and superannuation contributions are dispatched for payments, employee salaries are dispatched as EFT to Australian banks, and the general ledger is updated. Also, payroll reports and pay slips are generated, catalogued, and distributed.
- Process metrics are also updated so your business KPIs can be monitored.
- Managers and Employees are given access (with user access levels) to manage their employment data, bank accounts, earnings, pay slips, adjustments, timesheets, leaves. Managers can get an overview of their team’s leave plan as well.
- Online dispatching of payment summaries and TFN declarations to the ATO.
- Advanced features on Position Management and End-of-Year Reports.
QuickBooks Online
QuickBooks Online is a sophisticated platform that offers an integrated payroll system within its accounting software.
The system automates the entire process of accurately calculating the payroll and processing the payment on time. It stays compliant with all the requirements of ATO. Besides, it even offers a single touch payroll solution.
It is quite simple to use. Login to QuickBooks online, enter your business and employee details, and add pay run information. That’s it.
Features
- Enables employees to update their own personal details
- Offers excellent customer support for any technical issues
- The system is highly scalable and secure
Conclusion
Payroll Software For Small Business Australia – Whether you are running a small business or just working for one you need to have reliable information about payroll software for small business australia. If your are planning to set up this software for your offices, then there are some facts that will help you make the right decision.