Does your payroll take up lots of time? It doesn’t have to! Learn how the RBK Advisory team can simplify your payroll, inclusive of single-touch payroll today.

We all recognise how vital your staff are; ensure they are being paid correctly and in a timely manner with RBK Advisory.

Happy staff makes for a happy workplace! Ensuring your payroll is set up correctly not only guarantees a happy team but can also save you a lot of time. The expert payroll setup and support from RBK Advisory take the hassle out of processing payroll so that you can focus on other important tasks.

Read on to see how we can help, including the setup of single-touch payroll, which can make life even simpler.

The benefits of RBK payroll

There is a lot to consider for payroll, like penalty rates, annual leave, wage increases, and more. As a result, payroll is a time-consuming, daunting process that can cause issues for your team if performed incorrectly. The experts at RBK can set up your payroll for efficiency or handle the whole process from start to finish on your behalf.

Some services you may wish to hand over to us include:

  • Sending payslips to employees
  • Checking timesheets
  • Calculating commissions
  • Organising payroll tax and superannuation
  • Ensuring ATO and Superannuation obligations are met and lodged
  • And more

Our team can walk you through the benefits of cloud-based accounting software for your payroll functions, allowing you to access your data anytime and anywhere. For example, approve timesheets and annual leave on the road or view payroll reports from home in the evening.

What Is Single Touch Payroll (STP)?

As of July 1st 2019, the Australian Tax office (ATO) requires employers of any size to report salaries and wages paid, plus PAYG withholding and superannuation regularly throughout the year. This happens through a reporting regime called Single Touch Payroll (STP).

STP is essentially a new way to report tax and super information, and it applies to:

  • Any payment to an employee (e.g. salary or wages)
  • Remuneration to the company director
  • Return-to-work payments
  • Termination payments s
  • Unused paid leave
  • Parental leave pay
  • Compensation under the Seasonal Labour Mobility Program

The non-mandatory details that you can also provide include:

  • Reportable superannuation contributions
  • Reportable fringe benefits
  • Payments made to contractors outside the payroll

How to make your STP process simpler

As your salary, wage, PAYG and superannuation details are to be sent to the ATO regularly, RBK Advisory can help you set up one of two methods to achieve this:

  1. Submit directly from STP-enabled payroll software
  2. Have RBK Advisory act as an external service provider reporting on your behalf

With STP, your staff can see their year-to-date super through myGov. This saves you having to provide employees with an annual payment summary. In addition, your employees will be able to lodge their tax returns with pre-set STP information from the ATO via an income statement, creating a more efficient process for all involved.

Creating a simpler and more efficient payroll process with RBK Advisory

As one of only two BCorp certified accounting firms in Australia, the RBK Advisory experts are well-positioned to ensure your payroll requirements are not an added stress on your list of business management tasks. Enjoy the peace of mind in knowing your staff will be paid correctly and on time, with accurate reporting and management processes to minimise the time required to complete all of this.

We’ve helped many companies achieve an efficient and beneficial payroll process via our ethical approach to finance management. You receive the benefit of a wide skillset from the RBK team, which is made up of:

  • Accountants
  • Financial advisers
  • Consultants
  • Advertising professionals
  • Lawyers
  • Engineers
  • Architects
  • And more

Let us review and improve your current payroll process today and take advantage of our in-depth knowledge base and real-world experience. We always guarantee the best outcomes, future-proofed processes and positioning for easy business expansion.

Chat with the RBK Advisory team today, and simplify your workload tomorrow!

“We have been long-standing clients of RBK Advisory. They set up our paperless office systems, including the integration of Hubdoc and Xero accounting system. Their taxation planning and structuring has been great – we always know where we are at with our instalments, BAS Statements and Income Tax at year-end. We have an ongoing monthly Fixed Price Agreement with them, and it works really well because there are no surprises from a tax or accounting fees perspective”

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