[et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” _builder_version=”4.23″ custom_padding_tablet=”” custom_padding_phone=”0px||||false|false” global_colors_info=”{}”][et_pb_row column_structure=”1_3,2_3″ _builder_version=”4.23″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” width=”100%” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”1_3″ module_class=”table-contents” _builder_version=”4.23″ background_color=”#f3f2f6″ custom_padding=”25px||25px||true|false” sticky_position=”top” sticky_limit_bottom=”section” sticky_position_tablet=”top” sticky_position_phone=”none” sticky_position_last_edited=”on|desktop” pac_dcm_carousel_specific_module_num=”0″ border_radii=”on|24px|24px|24px|24px” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.23″ text_font=”||||||||” locked=”off” global_colors_info=”{}” background__hover_enabled=”on|desktop”][\/et_pb_text][\/et_pb_column][et_pb_column type=”2_3″ _builder_version=”4.16″ custom_padding=”|||” pac_dcm_carousel_specific_module_num=”0″ global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Copy paste body text here” _builder_version=”4.22.0″ header_2_font_size=”32px” header_2_font_size_tablet=”30px” header_2_font_size_phone=”26px” header_2_font_size_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n
Payroll outsourcing is a rich area of client service expansion. Moreover, as automation takes hold of the bookkeeping and advisory industry, nimble ways to evolve your bookkeeping practice should be considered and embraced.<\/p>\n
Because your customers (or potential customers) may have at least one person on their payroll, there\u2019s a great opportunity in capturing those businesses in the market to outsource.<\/p>\n
Offering payroll in your suite of bookkeeping services<\/a> will be very attractive for a lot of employers, as farming out regulatory compliance admin<\/a> can alleviate a host of busy, time-consuming work for them.<\/p>\n Better yet, there\u2019s a variety of \u2018levels\u2019 to payroll support you can provide, from basic assistance to full service. In this way, you can appeal to an array of business types<\/a> and sizes with different needs and requirements.<\/p>\n Payroll in Australia is a term for remunerating employees. It refers to the various steps and processes involved in the timely and legally compliant paying of employees<\/a>.<\/p>\n The term \u2018payroll\u2019 encompasses all forms of employee compensation, including salary, wages, benefits, and overtime. It also applies to all employees, despite their award or designation such as full-time, part-time, or casual. On a business\u2019s books, payroll is listed as an expense\u2014and it\u2019s quite often the largest overhead in running a business.<\/p>\n Managing payroll means a business owner needs to be both fair with their employees and comply with a slew of Australian laws and regulations. There are many intricacies to running payroll<\/a>, and many businesses will choose bookkeepers or accountants to undertake this responsibility on their behalf.<\/p>\n Payroll tax is a state-based tax that is applied to the wages a business pays its employees. Payroll tax is self-assessed, and not applied uniformly on a national basis. Its thresholds differ from state to state.<\/p>\n Payroll tax will only apply to a business when its total payroll exceeds a certain threshold. (Again, the threshold will depend on the state or territory in which the business operates.)<\/p>\n As soon as a business exceeds the threshold, it must register for (and pay) payroll tax.<\/p>\n If a business operates in several states, or nationally, things get a bit more complicated<\/a>. A business\u2019s total Australia-wide payroll is considered in the various payroll state tax thresholds.<\/p>\n For example, let\u2019s look at a business that operates in both Queensland and New South Wales and pays their total number of Australian employees a collective $105,000 per month.<\/p>\n If the NSW threshold is $101,000 and the QLD threshold is $108,000, this employer will have to register for payroll tax in NSW but not QLD.<\/p>\n [\/et_pb_text][et_pb_image src=”https:\/\/www.reckon.com\/au\/wp-content\/uploads\/2023\/08\/JOB230204_-_SBH_images_-_payroll_services.png” alt=”Bookkeeping Marketing Strategy” title_text=”JOB230204 SBH Images Payroll Services” align=”center” admin_label=”Image” _builder_version=”4.22.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text admin_label=”Copy paste body text here” _builder_version=”4.22.0″ header_2_font_size=”32px” header_2_font_size_tablet=”30px” header_2_font_size_phone=”26px” header_2_font_size_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n There are some common payroll processes most businesses with employees must undertake. These can be offered by your bookkeeping practice to business clients, either as a whole suite or broken up into various services<\/a> as required.<\/p>\n On top of these processes, you can also offer payroll advisory services, to help your business clients set up a system to manage their payroll.<\/p>\n Payroll processes include:<\/p>\n Payroll compliance is the act of making sure a business\u2019 payroll activity and processes abide by various state and national laws and regulations (many of which come from the ATO and the Fair Work Ombudsman).<\/p>\n Such compliance relates to everything from hiring and firing to payroll tax and accounting. With the possibility of penalties for non-conformance, the stakes are high to get it right<\/a>.<\/p>\n As the risks of non-compliance are serious, this makes outsourcing payroll all the more attractive, creating ripe opportunities for bookkeepers<\/a> to bear the load.<\/p>\n Selling payroll assistance can either be your initial pitch to a business client or offered as an upsell or expansion on your usual bookkeeping services.<\/p>\n If you have current clients that uptake basic bookkeeping services from you, being able to offer payroll services<\/a> as well could boost their account with you and their trust, not to mention your cash flow at tax time<\/a>!<\/p>\n A client seeking your payroll services may own a large business with a range of employees and complex payroll requirements. Alternatively, your client may operate a simpler model with a handful of workers. This of course will impact the range and scope of services you offer them, along with budgets to suit.<\/p>\n From a business owner\u2019s point of view, they\u2019ll be very conscious of their need to be payroll-compliant while also aware of the complexities and burdens that having staff on your books brings<\/a>.<\/p>\n With so many plates in the air, a lot of employers choose to outsource payroll to a bookkeeper.<\/p>\n Often this choice to outsource payroll will come in two main guises:<\/p>\n There\u2019s wisdom in offering payroll outsourcing services across both service types to cater to each client<\/a>.<\/p>\n Of course, many businesses will now be using cloud software<\/a> to perform much of their payroll work. Often, a bookkeeper will use these tools themselves, or be able to log in to the client\u2019s payroll software<\/a> to perform their duties.<\/p>\n A canny bookkeeper will become familiar with and skilled at operating a wide range of the most popular accounting and payroll solutions.<\/p>\n Being able to tutor a client in the use of payroll software can be sold as a service in itself, particularly for DIY or semi-service clients who prefer a hands-on (albeit light touch) with their administration.<\/p>\n [\/et_pb_text][ba_social_share icon_bg=”#03002e” icon_padding=”10px|12px|10px|12px|true|true” layout=”classic” show_text=”off” btn_padding=”0px|0px|0px|0px|false|false” btn_bg_color=”RGBA(255,255,255,0)” _builder_version=”4.23″ _module_preset=”default” custom_margin=”50px||||false|false” custom_padding=”25px||||false|false” custom_css_before=” content: %22SHARE THIS%22;|| font-size: 16px;|| font-weight: 700;|| line-height: 22px;|| letter-spacing: 0em;|| text-align: center;|| color: #ff5447;|| margin-bottom: 10px;|| display: inline-flex;|| position: absolute;|| margin-top: 10px;” border_width_top_main=”1px” border_color_top_main=”#e4e4e4″ border_radii_icon=”on|5px|5px|5px|5px” global_colors_info=”{}” custom_css_before_last_edited=”off|desktop”][ba_social_share_child _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/ba_social_share_child][ba_social_share_child network_type=”facebook” _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/ba_social_share_child][ba_social_share_child network_type=”linkedin” _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/ba_social_share_child][ba_social_share_child network_type=”email” _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/ba_social_share_child][\/ba_social_share][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" With virtually every business having at least one individual on its payroll, seizing the market opportunity to provide outsourced payroll services is both lucrative and relevant.<\/p>\n Whether you\u2019re considering making payroll services your focal pitch or a strategic upsell to your existing bookkeeping clients, our article will take you through the nuts & bolts of payroll.<\/p>\n","protected":false},"author":6,"featured_media":272933,"parent":0,"menu_order":0,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"anb_category":[196],"class_list":["post-269558","anb","type-anb","status-publish","format-standard","has-post-thumbnail","hentry","anb_category-payroll"],"yoast_head":"\nUnderstanding the nuts and bolts of payroll<\/h2>\n
What is payroll tax?<\/h2>\n
Common payroll processes<\/h2>\n
\n
What is payroll compliance?<\/h2>\n
Selling a payroll service as a bookkeeper<\/h2>\n
Why do people outsource payroll services?<\/h2>\n
\n
Using a cloud payroll platform<\/h2>\n