EI’s Managed Payroll Process
Published: 3 November 2023
We’ll show you exactly how managed payroll with Employment Innovations can revolutionize the way you do your payroll processing, keeping you up to date with changing legislation and payroll compliance.
EI's Managed Payroll Process
If you feel like your payroll is getting a little out of hand, it’s time to streamline the process. But listen up – there IS an easy solution, and we’re going to show you exactly what that is.
In today’s video, we’ll show you exactly how managed payroll with Employment Innovations can revolutionise the way you do your payroll processing, keeping you up to date with changing legislation and payroll compliance.
Let’s take a look at the steps involved with our managed payroll solution.
STEP 1 –
Once your business engages Employment Innovations, you’ll meet your dedicated payroll business partner right here in Australia.
STEP 2 –
You’ll have a chance to get to know your partner and for us to understand your business operations and unique payroll requirements.
In this phase, we’ll set a clear payroll timeline for:
- Obtaining required or approved details, and
- Setting a superannuation processing frequency.
STEP 3 –
Next, you’ll need to ensure employee timesheets, leave requests, salary adjustments, and ad hoc payments are submitted by the agreed-upon date, so we can include them in the payroll with other employee entitlements like earnings, allowances, and deductions.
STEP 4 –
After we’ve prepared the draft pay run, we’ll send you a comprehensive set of reports for your approval, which breakdown:
- accrued leave
- and superannuation.
Your business partner will be available to assist you with any questions or concerns you may encounter during this step.
STEP 5 –
Once you’re satisfied, you’ll provide us with the green light to finalise the pay run and we’ll send you the payroll journal, ABA file, and final pay run reports.
We’ll also handle:
- STP filing with the ATO
- finalise your superannuation accruals
- regularly update the software
- process end-of-financial year finalisation
- and help with ad hoc calculations such as backpays and termination payments.
And that’s it! We’ve designed the process to be as seamless as possible.
At EI, we are passionate about making employment easier, and the payroll team is dedicated to ensuring your payroll runs smoothly, week in and week out with 24/7 access to the reporting function in the system.
If you’re ready to join over 1000 Australian businesses in outsourcing your payroll with EI, get in touch today to start your managed payroll journey.
Enquire about our outsourced HR & Payroll services today
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