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Three signs it’s time to outsource your payroll – and everything you need to know to get started

Project Alfred
July 6, 2021

Wondering whether you should outsource your payroll? Getting payroll done on time (and properly!) every pay cycle is critical to keeping employees happy, and staying compliant. 

Businesses of all sizes use payroll outsourcing in Australia to save time and have peace-of-mind that it’s done right. If these three things are happening in your business, it might be time to outsource your payroll.

1. You’re getting regular complaints from employees

Employees hate nothing more than being paid late – closely followed by underpayments and any other discrepancies on their payslip. It’s uncomfortable for employees to ask why they haven’t been paid, especially if the person responsible is their manager or the business owner. Whatever the issue, if you’re getting complaints from employees, or even questions that are difficult to answer, it’s probably time to get an expert involved before you find yourself in hot water.

Sometimes businesses are worried about the cost of payroll outsourcing services, but as we say, what’s more expensive: outsource your payroll and have an expert do it, or risk the penalties and fines for non-compliance? Spoiler:  payroll outsourcing probably isn’t as expensive as you think.

Get an instant pricing quote on Project Alfred’s payroll outsourcing services.

Person's hand removing paycheck from envelope. Project Alfred does outsourced payroll for businesses of all shapes and sizes.
If you’re getting questions or complaints from employees about their pay, it’s time to consider outsourcing your payroll to an expert.
2. You don’t have time to get payroll done

Sometimes even with the best intentions, businesses find it difficult to run payroll on time. The extra time spent on payroll for even a few new hires really adds up, especially over a whole year. Payroll might be time-consuming, but whether it’s done by a finance team or the business owner, this is a deadline you never want to miss.

When you consider the time spent processing payroll, looking up appropriate awards, researching Fair Work – the list goes on – it actually becomes more costly to run in-house payroll vs outsourcing it to an expert who’s up-to-date with all legal requirements and has the skills and resources to do payroll quickly. Time is money, and outsourcing repetitive tasks is generally a better return on your investment than doing them in-house.

Business man working late at night. Project Alfred's outsourced payroll helps businesses save time.
If bookkeeping is falling to the business owner, it can be really stressful finding time to do payroll every pay cycle, and to keep on top of the payroll rules for employers.
Project Alfred bright spark tip

Did you know the Superannuation Guarantee Contribution doesn’t apply to overtime? The super contribution payment is based on an employee’s ordinary time earnings, and doesn’t apply to irregular overtime payments, reimbursed expenses or parental leave payments.

3. You’re not sure if you’re up-to-date with the latest awards and other payroll rules for employers

Fair Work sets out the Australian Government’s workplace laws. This includes everything from leave entitlements, award rates and other obligations employers owe employees. We’re not going to list off the ever-changing regulations you need to comply with, but if you’ve got employees on awards, you don’t have contracts (or compliant contracts), or you’re getting confused about how to handle long service leave or redundancy payments, you should seriously consider outsourcing your payroll – peace of mind that you’re doing the right thing is one of the biggest advantages of outsourcing payroll services. 

Good to know: Worker’s compensation (WorkCover) is a compulsory form of insurance for all employers in Australia and provides protection to workers if they suffer a work-related injury or disease. Normally, WorkCover requires the employer to pay the worker during payroll, then reimburses the approved wage. In your payroll software, you should be able to set up a new pay item in payroll settings, and select exempt from superannuation but don’t tick the exempt from PAYG Withholding box (unless specified to do so by your employee’s award).

Or, let us help.

Our payroll and bookkeeping services give you access to experts so you won’t need to spend any more late nights stressing about whether you’re doing all this right!

Wondering how to choose a payroll service? Here’s how it works at Project Alfred:

There are many ways to outsource your payroll so make sure you understand what you’re signing up for as some payroll outsourcing services are full-service; others leave parts of the admin up to you. 

At Project Alfred, we take the time to look at your payroll needs. We’ll determine what software is best for your business (the majority of our clients are using either Xero or Keypay), and we’ll also make sure all your relevant registrations are up-to-date, such as WorkCover, PAYG, Single Touch Payroll, as well as your Super Guarantee obligations.

Depending on your needs, we can be either behind the scenes or a direct point of contact with your team. We’ll process timesheets, leave applications, salaried employees and provide you with a payroll summary, as well as an ABA (bank) file, or we can upload to your bank for you to approve. We can also deal with all the calculations and paperwork surrounding any terminations or new hires. Think of all the time you’ll save!

And if you’re only just starting out with payroll and this to-do list is making you anxious? Don’t stress: if you outsource your payroll to Project Alfred, all this will be on OUR to-do list, not yours, so you can focus on your core business and we’ll make sure your payroll is under control from the outset!

Ready to take the stress out of payroll? Book a discovery call today.

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