In business, payroll commonly refers to your financial records, salaries, wages and deductions that your business has to deal with. Tracking all of your employees’ holiday leave, sick leave and maintaining your employee records can take a LOT of time, money and resources. It can be a little bit confusing if you have no experience in payroll or if you are just starting out in business. It is important to invest in a decent payroll system for a few reasons; mainly to ensure the smooth running of your business’ finances and to ensure that your employees’ are paid their correct amounts, on time – all the time. So where do you start? What MYOB product will work best for your business? Have you researched any of the numerous MYOB products on the market today? It depends on your budget and how many staff you need to manage, but there will be a MYOB product that suits your business; you just need to find it!
So What is MYOB Anyway?
You have probably heard of MYOB before, but do you really know what it is and how it works? MYOB was established in 1991 in Australia, by Craig Winkler and Brad Shofer. Basically, MYOB is a business management product that has many different software programs and add-ons, which branch from the basic version. Originally designed for the ‘small to medium sized enterprises’ (more commonly known as SMEs) out there, there is even MYOB software available on the market to aid professional accountants (MYOB Accounting Plus). Over 700,000 different businesses (including a lot of accounting firms) all over Australasia are all utilising what MYOB business management products have to offer. Bet you didn’t know that?! MYOB is the number one provider of business management software in Australia helping small to medium sized enterprises run the finance side of their business smoothly.
How MYOB can Help with Your Payroll Requirements
MYOB has an awesome product on the market that is aimed at those who need to organise their business’ payroll, with little to no experience. Are you aware of how the payroll policy/procedure works in your business? What do you mean you have no idea? Although you are not alone, it does payoff to learn how the payroll process works and how to use MYOB Payroll. Does your business have a proper payroll system in place? If not, your business may be falling behind the times. An effective (or even an ineffective) payroll procedure could make or break your business. MYOB Payroll is an all-in-one tool that will calculate accurate earnings, taxes and deductions for you – automatically! Phew, are you starting to feel better? How good would it be to be able to analyse your business’ current trends and track your income and costs, all from one handy little program? MYOB Payroll also works with e-banking and even the Australian Tax Office. This will ensure that you are complying with your legal requirements regarding tax and superannuation! Just think how good it would be to not have to worry about that. One less thing to stress about!
Learning MYOB Payroll WILL Benefit Your Business
If your business has grown so much that you are beginning to put people on your payroll, it might be time to invest in a program that will simplify the process for you. There are heaps of MYOB training sessions on offer and if you do a quick search in Google for ‘MYOB training’ or even more specifically something like ‘MYOB training in Melbourne’ or ‘MYOB accounting plus course’ you are sure to find a short course that will be both affordable and helpful. There are even programs that come to you! How good is that?! Do not be too proud in seeking MYOB Payroll training or any other training for that matter. Because everyone needs sufficient training to be able to do any task well! The major benefit of investing in MYOB Payroll training is that it will give you an understanding of how payroll works and obviously how to make the most of the MYOB Payroll program itself. Not only will good payroll training help prepare you and your business for the day-to-day payroll tasks, effective payroll training will show you how to deal with any payroll problems that may arise. Obviously, there are a lot benefits when investing in a good quality payroll program and at the same time, investing in your staff. When you and your staff know how to use the software correctly and are aware of the payroll policy; procedure usually follows without any major issues. And if problems do arise, there is usually someone that knows how to resolve the problem. Investing in training is a great way for you and your staff to learn and improve their skills. And it will help to keep your staff happy and motivated if they are learning new skills!