Streamline payroll and simplify the process of payroll through the automation benefits cloud accounting software brings to save you time and money.

1. Streamlining
The Process of
Payroll

2. We all know that paying employees on time and
correctly directly contribute to workplace satisfaction.
And happy employees are more likely to perform better
which positively impacts customer satisfaction. As an
employer, you want those customer service and
employee satisfaction levels to be nice and high.

3. A simple way to do that is to enhance the process of
payroll so it is streamlined and runs smoothly, leaving
you with more time to spend on winning business,
improving productivity and profit.
Cloud accounting, with its automation and user-friendly
interface, replaces labour intensive payroll procedures
with smooth, simplified processes.

4. So, let’s breakdown the process of payroll first:
1. Gathering employee information
2. Establishing payroll compliance
3. Recording employee hours and entitlements
correctly
4. Making regular and fair remuneration payments
5. Record-keeping and sharing of pay slips and
payment information
6. Regular auditing and reporting

5. With payroll, you must have all your ducks in a row and
know your legal responsibilities.
You must pay your employees at the correct rate, as
well as any entitlements they are eligible for. This
includes parental leave, sick leave or overtime rates and
can depend on things such as age, the state they work
and the industry you’re in.

6. If you’re unsure, the Fair Work Ombudsman has
created The PACT Pay Calculator . You can use this tool
to calculate modern award pay rates for your
employees including variables such as allowances,
overtime and penalty rates.
Being across the terminology is also important. Not
knowing your BAS from your IAS is no excuse.

7. The goal for payroll should be to simplify and
streamline. You want minimal hours spent on manual
entries and on fixing mistakes. This is wasted money in
a business. And the legal and compliance elements can
be a headache all on its own.
Cloud accounting lends itself to streamline the process
of payroll through automating procedures around:

8. • Super contributions
• Changes to tax tables, superannuation guarantee
rates and levies
• Filing employee tax file declarations and payment
summaries with the ATO
• Multiple pay calendars to suit your business
• Inbuilt timesheets
• Automated calculation and reporting of timesheets
• Employee access to timesheets, employee payslip
and leave balances

9. • Connecting to other HR business processes such as
rostering
• Record-keeping and tax compliance

10. Simplifying the process of payroll through the
automation benefits cloud accounting software brings
to the virtual table does save you time and money.
Here at Cornerstone we understand the pressure of
compliance and legal requirements around payroll very
well. We know all about cloud accounting and the add-
on marketplace.
More importantly, we know the positive impact it can
bring to the payroll process for small businesses.

11. Improved efficiencies, increased productivity, less
payroll mistakes all add up to less headaches, happy
employees (which means happy employer!) and a
healthier bottom line.
Sounds good, doesn’t it?
if you are tiered of manual payroll systems and looking
to outsource payroll process to experts please reach
out to us.