Online provider releases definitive guide to payroll in New Zealand
Thankyou Payroll, a social enterprise offering cloud-based software to manage the complexities of payroll, has today released a new online guide that makes it easy for employers to understand the process and obligations of running payroll in New Zealand.
Available now for FREE on its website, Thankyou Payroll intends for the guide to be both an introduction and ongoing reference for business owners grappling with the complexities of payroll, leave entitlements, and taxes.
“Payroll can be difficult for employers—especially small companies adding their first employees. But it doesn’t have to be,” said Christina Bellis, CEO of Thankyou Payroll. “We’ve created this plain-English guide to help small business owners understand the basics of what payroll entails. This is particularly important with the new obligations for payday filing soon coming into effect which will require more information from employers, more often.”
From 1 April, the Inland Revenue Department will require all employers to file information about employees, leave entitlements, tax withholdings and more within two days of each payday. While these reporting requirements have been optional since last year, the new payday filing system will now become compulsory.
For small businesses not yet used to the additional reporting requirements of payday filing, the guide from Thankyou Payroll will be a particularly welcome addition to understanding the new processes.
“We appreciate that for many small business owners, these new filing obligations will entail more stress and admin work, which means less time spent getting on with running their business,” continues Christina Bellis. “By fully understanding the new requirements comes an opportunity to revisit the way they are currently doing payroll. Taking this as an opportunity to move to an online payroll system may help employers manage the transition to the new IRD process.”
As a listed IRD intermediary, Thankyou Payroll helps small businesses take the hassle out of payroll and payday filing by reporting employee information automatically to the IRD through its online platform—saving employers hours with each pay run.
Gerard Byron of Movemen Ltd manages a small business of five employees. Manually running the payroll would usually take him at least an hour each week, in addition to the time needed to send his payroll data to Inland Revenue. After moving to Thankyou Payroll, each pay run is now complete in 10 minutes—including his IRD payday filing obligations. He's not even had to think about the new payday filing obligations: "I use a great company that ensures my business stays compliant from that aspect," Gerard said.
In addition to giving back time to small business owners, Thankyou Payroll also offers the opportunity to give back to the community through the Thankyou Charitable Trust, making a difference in underserved communities across the country. Learn more at www.thankyoupayroll.co.nz.