Bookkeeping & Payroll Services for Small Businesses

 

  This week, we’re diving into the crucial relationship between finance and payroll departments. A Chief Financial Officer (CFO) sees the payroll department from a strategic angle, focusing on its contribution to the organisation’s financial health and operational efficiency. Here’s what a CFO typically expects from the payroll department and how you can leverage these expectations to secure funding for essential payroll training and Australian Payroll Association (APA) membership. Key Payroll Expectations of a CFO   Accuracy and Compliance CFOs need assurance that payroll processes are accurate and fully compliant with current legislation. Compliance minimizes the risk of costly fines and legal issues. Demonstrating adherence to complex payroll legislation, including state and federal laws, is crucial. Cost Management Effective cost management in payroll processing is a priority. CFOs look for ways to streamline operations, reduce processing costs, and improve efficiency

  A North Queensland office manager faces 120 criminal charges in connection with an alleged sophisticated fraud scheme amounting to over $2.5 million, carried out over six years. Authorities allege that the 50-year-old woman from Townsville embezzled funds from a business in Tully, a small town south of Cairns, between 2017 and 2023. The alleged fraud was uncovered after the business owner reported suspicious financial activity to the police last year. Acting Superintendent Kevin Goan described the alleged crimes as involving “a significant amount of deceit.” “Police will allege that the woman used her position to take several measures, including relocating funds and altering business documents, such as payroll information, to commit the offences,” he stated. A year-long investigation led to searches of several properties and businesses in Tully and Brisbane, where officers seized electronic equipment and financial documents. “The impact of the [alleged] fraud affects mul