Account Keeping Plus – Administration, Bookkeeping, Compliance News & Tips MYOB Reckon Quickbooks Xero Software TrainingSmall Business

Making Business Books and Accounting Come Alive! MYOB Reckon Xero


2 Comments

Reckon Account Right (formerly Quickbooks) – Compulsory recording of super payment on payslips

Compulsory recording of super payment on payslips

Compulsory recording of super payment on payslips

There is a new requirement to include the Super Payment Date on payslips, as announced in the Government Budget in May 2011. It is now a legal requirement from 1st July 2013.

To record Reckon 2013-2014 Account Right (formerly Quickbooks in Australia) the compulsory recording of super payment (expected payment date) on payslips, we need to add a field to the payslip.

To show the Super Payment Date (when you expect to pay) on a Payslip you will need to do the following:

1. Activate the Super Payment Date feature;

a. Edit > Preferences > Payroll & Employees > Company Preferences;

b. Tick the box Super Payment Date on Payslip;

c. Click OK.

2. Manually Insert the Super Payment Date when you are processing payroll (have to remember to do):

a. Pay Employees > Enter Payroll Information

b. Now enter the date you expect the super contributions to be received by the Super Funds in the Super Payment Date (expected on or before) box;

c. Complete the pay process.

3. The Super Payment Date appears towards the top of the payslip, its exact position depending on the payslip style.

Note – The Quicken Custom Payslip doesn’t include the Super Payment Date. Users of this template will need to create a Custom Template and add the Super Payment Date field.

Note – All users with customised templates will need to add a new field super Payment date:

1. Lists > Templates > open your customised template > Layout Designer;

2. Right-click on the template > Add > Data Field

3. Select Super Payment Date > OK

4. Move the boxes to the desired location

5. Format the boxes: Right-click > Font > Select Style and Font > OK;

6. OK and OK to close.

See more at –

http://www.fairwork.gov.au/resources/fact-sheets/employer-obligations/pages/employee-records-and-pay-slips-fact-sheet.aspx click on What information must be included on the pay slip?

Need help? Not sure? Call for FREE 30min advice / strategy session today!

0407 361 596 Australia

And also get Free “Avoid these GST mistakes” – there’s 18 that the Tax Office see regularly – get them right!

Advertisements


Leave a comment

Quickbooks – Staff Time on Client Work and Invoicing the Client

Quickbooks - Staff Time on Client Work and Invoicing the Client

Quickbooks – Staff Time on Client Work and Invoicing the Client

Do you and staff work by the hour for work on jobs? Here is how you can easily include those payroll expenses/time on invoices.

It’s also known as Payroll-tracking and is easier when everyone is salaried.

GO to Employees > Enter Time >Time/Enter Single activity, or click the down arrow next to the Enter Time icon on the home page.

The window opens.

Click > calendar icon and select the date the work was performed > click the down arrows in the fields next to (employee) Name, Customer: Job, Service Item and Class (if required). To enter more info, enter it in the Notes box.

Enter > the hours and minutes in the Duration field with the length of time worked that day. In the office you can use the Start, Stop and Pause buttons to time their billable sessions on that client’s work

If these hours can be billed back to a client, tick the box next to Billable in the top right hand corner.

Integration with Invoices

GO to create an invoice for that customer, and QB detects billable time, so a box will appear after you’ve selected his or her name from the drop-down list:

Choose “Select the outstanding…” and click OK, then the Choose Billable Time and Costs window will open.

Click next to every instance of time that should appear on the invoice.

If have several, you can choose to combine all of the instances that share the same service item, by clicking the Options button to open the next window:

Click > “Combine activities….”

Click > OK, and the invoice window will open again, and the time-related items will be listed.

If required, add other line items.

Save the invoice.

Need help? Not sure? Call for FREE 30min advice / strategy session today!

0407 361 596 Aust

And also get Free “Avoid these GST mistakes” – there’s 18 that the Tax Office see regularly – get them right!

Wondering which software to get? Click on the “Get FREE Download” button above for your FREE report!


Leave a comment

Business Tips – Marketing Consistently

Business Tips – Marketing Consistently

Business Tips – Marketing Consistently

Your business needs clients, but you can’t stop to get them! It feels like you’re being pulled in many different directions (both personally and professionally) that you can’t find the time to do any marketing. When it comes to marketing, what is most effective for businesses these days? It used to be you could pay a lump of money annually (or break it into monthly payments) for a Yellow Pages ad and the phone would ring. Or attending a local networking event from time to time. But things have changed. There are so many choices, and advertising doesn’t really seem to work anymore, at least not in the traditional way. Most of us are not outgoing and hate the idea of reaching out and “selling” our services .
So, for many, the marketing just doesn’t happen.
Yet we know it’s necessary to market our business to build and grow a stable income and reach our goals. But given the time and budget limitations, how can we get past the marketing hurdle?
By doing small consistent tasks that don’t take much time. When you approach it this way, you’ll actually get BETTER results!
In this age of online technology, doing small actions consistently is one of the BEST ways to get and keep your marketing rolling to consistently attract new clients and grow your business.
Some quick and effective things to do that you can spread out over a week, one per day. And then repeat the process.
Create / Update Your LinkedIn Profile – This is a most powerful social media profile you can have for your business. Get it done one chunk at a time.
List your business in online business directories – These get picked up by the search engines and you never know who will find you this way. Most are free or low cost. Be sure to include a key benefit you have to offer that sets you apart from your competition. This works for both local and virtual bookkeepers.
Make one or two phone call per day to a present or past client – The point here is to talk to someone just to warm up the connection and let them know you are available if they have a need. This also works for connecting with colleagues, strategic networking partners, and any business connections you have or want to establish.
Update your Association/Industry profile – If you’re a Certified XXX (or have a listing in any other type of certification or partner program directory) update or improve your profile information so it is attractive to potential clients who see it. Maybe make a special offer that is time sensitive.
Making connections in Social Media like Twitter – Start following people you would like to make a real connection with. Then start sharing (tweeting) helpful information that would be useful to the type of clients you want to attract. Ultimately, you will want to be spending a little time on Twitter daily, if possible.
Getting the word out about your services so it can reach the small businesses who need your help can be a lot of work, the load is much lighter when you can approach it with just one small action at a time. When it becomes a habit, you will build a true, rock-solid business as a result.
Marketing is not something that should be done all at once and then stop when you get too busy.
Try out this simple daily plan above, and see if it works for you.
Do you already have a daily marketing routine that works well for you? Tell us your tips!
Need help? Not sure? Call for a FREE 30min advice / strategy session today!


Leave a comment

Business Tips – Taking on an Employee or Contractor? Beware!

 

Taking on an Employee or Contractor? Beware!

Taking on an Employee or Contractor? Beware!

Your business is getting busier and you look for more staff to help. Not always easy to find good staff, but should they be an employee or contractor? You need to get it right because penalties and back payments and interest can apply if the relationship is wrong. You are obliged to know the difference, so beware and learn the difference! The main section starts HERE.

The ATO site says –“Many businesses are getting this decision wrong as they are basing it on incorrect information. Often workers who should be employees are being incorrectly treated as contractors.

None of the following makes a worker a contractor:

  • Your business only needs them for short term or irregular work (such as during busy periods)
  • You are using their specialist qualifications or skills
  • The industry ‘norm’ is to use contractors
  • They have an Australian business number (ABN)
  • They have a registered business name

Just because a worker has an ABN or registered business name does not mean they will be a contractor for every job. To determine whether a worker is an employee or a contractor, you need to consider the whole working arrangement and look at the specific terms and conditions under which the work is performed.”

And a table helps define the difference between employee and contractor – eg one is psi for the hours, while the other for the result, only one can delegate the work by subcontracting and paying someone else to do the work, one uses and provides their own tools while the other has their tools supplied by your business and other factors that differential the two include commercial risk, control of work and independence – see the great table at ATO site HERE.

The ATO site also emphasises myths that commonly arise about employee/contractor decisions. It states:

“There are many myths about what makes a worker an employee or contractor. Often businesses rely on these myths and get the employee or contractor decision wrong.

Myths

To ensure you know fact from fiction when determining whether your worker is an employee or contractor, we discuss some of the most common myths about:

Another great part of the site is the decision tool:

“To get an answer about whether your worker is an employee or contractor, use our Employee/contractor decision tool. It is free, anonymous and easy to use.”

What are your experiences of employing staff? Do you always determine if you will employ or contract? Write about it below!

 


Leave a comment

MYOB – “DataException” Error in Payroll in Account Right Plus 2012

MYOB – “DataException” Error in Payroll in Account Right Plus 2012

MYOB – “DataException” Error in Payroll in Account Right Plus 2012

 

MYOB has prepared an explanation and a special tool to help resolve this issue.

 

Get the tool (further down under “Disclaimer” at http://myobaustralia.custhelp.com/app/answers/detail/a_id/34916  

Note: This repair tool should only be used if the above DataException error occurs when processing, editing, or deleting a payroll transaction.

The steps they give are –

To run the repair tool, complete the following:

  1. Right-click the file attached to the bottom of this support note (AccountRight Payroll Data Exception Repair Tool.zip) and choose to save it to your Desktop.
  2. Double-click the downloaded file. The contents of the ZIP file will be displayed.
  3. Double-click the file AccountRight Payroll Data Exception Repair.exe.
  4. Click Yes (or Run) to the displayed warning. The AccountRight Data Exception Repair Tool will launch.
  5. Click Browse and navigate to the location of your company file. By default this will be in the following location:
  6. Windows Vista, 7 or 8: C:\Users\Public\Public Documents\MYOB\My AccountRight Files
    Windows XP: C:\Documents and Settings\All Users\Shared Documents\MYOB\My AccountRight Files
    Note: If you have moved the location of your AccountRight library, navigate to this location instead.
  7. Click your company file then click Open.
    Click Repair.


Leave a comment

Payroll – Casuals and Superannuation

Payroll – Casuals and Superannuation

Payroll – Casuals and Superannuation

Client emailed – Hi Paul,

Can you please tell me is Superannuation payable to casual employees??? If so, it’s after the $450 earning for a month – is that right?? Also I have an employee who earns $300 p/w, therefore there is no super in the first week of the month pay as he is under $450 calculation for the month so it starts to calculate after Week 2….. I have just printed his payslip and there is no super on it (which is correct) BUT there is no YTD carry over, how do I correct this?? Cheers.

Solution – For casuals, yes super is only required by law once the GROSS wages are over $450 per month. So it is assessed EACH month, and by ticking in MYOB or Quickbooks etc to monitor this threshold, the calculation is automated for you. As you found, the first pay of $300 doesn’t generate any super, until the next pay, let’s say it’s another $300 which now brings the monthly gross over $450 – note that then the software will calculate the 9% super on BOTH weeks of pay and will generate it on pay 2 on $600. The software is self-adjusting, and you can manually type in some super if you want to. See ATO sight HERE about super obligations.

With the Year To Date (YTD) it maybe that the “Print on Payslip” is not ticked. Also, super is not “Carried over” each year, it is usually shown for the current payroll year in line with the Gross and Net for the year, as payroll is recorded and measured and reported annually.

The complete ATO sight businesses need is Employers superannuation – home.


Leave a comment

Super Calculation – One new employee has a different amount to another with the same wages

 

Super Calculation – One new employee has a different amount to another with the same wages

Super Calculation
Different amount to another with the same wages

Client called and was panicking that the super calculation for a new employee was different to another employee with the same wages.

I questioned her to be clear about the employee set up and we checked:

  • Same super category used? Yes
  • Same wage per hour and same GROSS in payslip? Yes
  • Any other pay categories used – overtime, allowances… NO
  • OK when did the first employee start? – Last month
  • And when did the new staff start? – Last week

OK – the first employee has two weeks of pay, the new employee has one week of pay

MYOB and Quickbooks balance super over a month, because super does not need to be paid until $450 is earned in month. The software will generate no super if the first pay of the month if the gross is under $450. Over $450 super will generate, usually for most fulltimers.

When an employee starts the second week or third week, super is sometimes more for THAT pay as it is catching up for the total for the month – it keeps balancing and comparing for the gross for the month.

Generate a report for the payroll for the MONTH, including the super, and divide the super of one employee by the gross. You should get 9% (often 8.999%). Check other employees to confirm.

If you still have problems, give us a call so we can help sort it out! Paul 0407 361 596.