Emailing Bills to Receipt Bank

 


Comments

Post a Comment

Popular posts from this blog

Australia’s New Wage Theft Laws: What Employers and Payroll Managers Must Know

  On 1 January 2025, Australia introduced landmark legislation aimed at combating wage theft—intentional underpayment of wages. These new laws elevate wage theft to a criminal offence, sending a strong message that deliberate underpayment will not be tolerated. Employers and payroll managers must act now to understand these laws, ensure compliance, and avoid significant penalties. Key Features of the Laws Criminalisation of Wage Theft Intentional underpayment is now a criminal offence. Employers found guilty may face fines, and individuals—including payroll managers—risk imprisonment. Clear Definitions Wage theft includes deliberate failures to pay wages, superannuation, entitlements, or penalty rates in line with industrial agreements or legal requirements. Increased Penalties Severe fines for organisations and personal liability for responsible individuals are now in place. Enhanced Enforcement Regulators like the Fair ...
Read more

Your FY2025 Business Budget

  As we move into the new financial year and continue to navigate the challenges of inflation, now is the ideal time to establish your FY2025 Business Budget. A business budget is not just a financial plan—it is a strategic tool that guides your business’s operations, ensuring financial stability and supporting growth. By outlining expected revenues and expenses, a budget allows you to allocate resources efficiently, plan for future investments, and manage cash flow effectively. This forward-looking approach enables you to set realistic goals, track performance, and make informed decisions. Moreover, a well-crafted budget helps you anticipate potential financial challenges, allowing you to take timely corrective action to avoid shortfalls. The process of creating a business budget involves several critical steps: 1. Review Historical Financial Data: Start by analyzing past financial records to identify trends in income and expenses. This historical insight provides a solid fo...
Read more

Five Essential Payroll Strategies for 2025

  As we look towards 2025, payroll professionals face new challenges from advancing technologies and evolving regulations. Payroll is not just a back-office function—it’s crucial to a company’s financial health and employee satisfaction. Here are five key strategies for Australian payroll departments to focus on to ensure compliance, efficiency, and value creation in the year ahead: 1. Embrace Payroll Technology and Automation Investing in modern payroll technology is vital for efficiency in 2025. Payroll systems should integrate with HR, finance, and timekeeping to streamline operations. Scalable software with Employee Self-Service (ESS) portals and real-time reporting capabilities will allow employees to manage personal details and view payslips easily. Automation should also cover compliance tracking, ensuring systems remain up-to-date with legislative changes. 2. Focus on Compliance and Risk Management Payroll compliance remains a challenge due to Australia’s evolving tax...
Read more