Common payroll mistakes that businesses make, by small business accountants in Sydney
When running a small business it can be tempting to be the jack-of-all-trades. In retrospect how much to do you really know about all aspects of the business, to do them accurately and avoid small common mistakes that can impact the business in a negative way like the payroll. Our small business accountants in Sydney will inform you of some common mistakes when doing the payroll.
Getting anything wrong when doing the payroll not only makes your employees furious, but you will then have to face the consequences of the ATO. One of the most common mistakes is not having the correct employee details for all your workers, not reporting of reconciling the necessary information needed to ensure your payroll goes accordingly, not ensuring that your payroll is constantly being up to date with the latest changes in tax rates. This can be tricky and our business accountants in Sydney have the ability to make sure that your payroll will always be up to date.
The worse mistake that you can make is not meeting your payroll deadlines as each kind of payroll has its own deadline.
Feel free to contact our small business accountants in Sydney for help regarding your business payroll to avoid any mishaps with your employees and the ATO.