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Australian Payroll FAQ 2022

Dynamics 365 FAQ

No, but you can always get the payroll integration from the Microsoft certified ERP and CRM services provides like DHRP. 

The payroll module is included in the package when you buy Dynamics AX 2012 or Dynamics 365 for Finance and Operations. You don’t need to pay for an add-on service or perhaps another payroll service because you already have all you need for free! 

Dynamics 365 in itself is a great tool, however, when you talk about the payroll module, you may need to lookup add-on products from a reliable services provider for a fully integrated program.

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Single Touch Payroll FAQ

The Australian government passed STP legislation on July 1, 2018. Employers must provide payroll and superannuation data to the ATO every time they process payroll under STP. When you pay employees using STP-enabled software, you report their payroll information to us. Payroll data includes the following:

  • Salaries and wages
  • pay as you go (PAYG) withholding
  • Superannuation.

Employers will no longer be required to create payment summaries or do other administrative work linked to the EOFY process thanks due to the STP.

It all comes down to a matter of self-education. Companies must wake up, pay attention, and educate themselves on STP if they haven’t already. If a company isn’t already producing STP data, it should start doing so right now. Firms with 20 or more employees had to begin STP reporting on April 1, 2018, while businesses with fewer than 20 employees had to start reporting on July 1, 2018. STP became mandatory for organizations with 19 or fewer employees from the start of the fiscal year (1 July 2019).

Not at all.  The STP lodgment process has been designed by the ATO in collaboration with payroll software suppliers to be as simple and frictionless as feasible. In other words, your payroll software should take care of all the hard work. The actual payroll procedure hasn’t altered much; only the reporting obligations have. Payroll is a task-intensive process. There are numerous checks and balances, and payroll officers are frequently required to be knowledgeable about a variety of topics related to their payroll. The ATO is aware of this, which is why, in collaboration with payroll software providers, STP lodgment has been designed to be quick and straightforward.

Other factors were considered in the wage increase, but the bottom line is that employees paid under a Modern Award would see a 3.5% increase in pay. This was done in order to provide a fair and appropriate minimum wage. A wage setup is designed to meet the needs of low-wage workers. Employers have a significant obligation to pay their employees the new minimum wage; otherwise, they risk underpaying their employees. Because hikes occur right in the middle of an end-of-financial-year activity, small and medium-sized businesses are particularly stressed at this time. As a result, there’s a good chance that employers will ignore wage increases. However, to avoid any issues, companies must stay informed and implement any necessary changes.

All awards are affected by the increase in the minimum wage. Employees who are paid under a contemporary award will get a 3.5 percent boost in their compensation. Juniors, apprentices, and trainees are all included. According to the FWC, roughly 20% of Australian employees have their pay decided by a modern award. As a result, many Australian companies will have to deal with award updates.

Almost on all awards. Also, it should be noted that penalty rates for the retail, fast food, hospitality, and pharmacy industries have changed as of July 1, 2018. In the world of payroll, there is a lot of change and moving pieces, making it tough for businesses to stay on top of everything and be compliant.

You have nothing to worry about if you are using Dynamics 365 payroll integration solution by DHRP. It is fully automated and automatically payroll compliant. If you don’t utilize automated payroll software, you’ll need to look through your existing payroll and the award you’re paying your employees under. Compare the pay rates when they are released by the FWC, and then make the necessary adjustments to your payroll system. You’ll also need to adjust allowances, annual leave, and personal leave rates, as well as any pay rates that are calculated using the basic rate of pay in a modern award. The more personnel an organization controls, the more difficult this duty gets.

Single Touch Payroll (STP)

Compliance FAQ

Tasks associated with running a business have employers up to their armpits. With so much going on, it’s easy to forget anything, especially if you don’t have a specialized HR or payroll department. It’s critical to invest in a technology that will streamline and automate the duties around employee onboarding, day-to-day record-keeping, proper award and wage interpretation, and payroll processing from employee management and payroll viewpoint. Something like this will not only bring value to your company but will also ensure that you are in compliance and will not be visited by the Fair Work Ombudsman.

Employers must ensure that they are fully aware of changes in compliance. Examine your payroll software and employee management tools. If you’re still utilizing paper-based systems, I’d seriously consider switching to a new management system. Consider how you collect employee data during onboarding. How are processes such as leave requests and terminations handled? How does my company stay current with the latest rewards and regulations? We propose that small and medium-sized businesses consult with specialists on these topics.

The right information from the employee onboarding process can be captured with the use of an employee management platform or HRIS. They enable complete transparency to all of your data, provide audit trails, and generate system-generated reports, all of which help you stay compliant and audit your own operations. When it comes to payroll, there are a few things to consider. Legislative and award changes are automatically updated by a competent automated payroll solution. Employers will be able to install and implement modifications with a single click of a button. Choose payroll software that you can trust to keep up with the latest rewards and changes, giving you peace of mind.

compliance issues

So, you must have questions in your mind like do Microsoft dynamics have payroll and what is employee self-service? We will answer all your questions. We understand that processing all this information may be a little bit tough. Therefore, our team at DHRP is available to help you with the information and the integration of any payroll solution accordingly. 

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