What every business owner needs to know about payroll

Working Better
2 min read
19 May 2019

By Wiise

How payroll plays a core role in employee engagement and revenue health

As it stands, payroll is often seen as “just a process we need to do”, but it’s far beyond this. Payroll is key to ensuring your business is compliant, employees are paid on time, and being able to see what money is going in and out of your business.

In recent years, we’ve seen just how outdated and non-compliant payroll systems can severely impact businesses. Imagine having to fork out thousands of dollars to reimburse staff after discovering the Award you were referencing was outdated. It happens.

Payroll is becoming increasingly important for businesses. The introduction of new government legislation stating all businesses must report to the ATO every time they pay their employees through Single Touch Payroll, has resulted in numerous companies having to reassess their payroll process. Businesses, no matter the size, are increasingly seeing how payroll impacts business reputation, employee morale and allocation of resources.

So whether you’re worried about staying compliant or simply want to manage and streamline your payroll processes better, Wiise Payroll has been designed for exactly that.

Wiise payroll empowers employees, streamlines process and ensures compliance. As an all-in-one powerful and seamless workforce solution, Wiise payroll takes care of the tedious tasks of pay run journals, month-end reconciliations and payroll reporting. Features such as timesheets, rostering and employee self-service helps deal with internal functions, whilst automated awards, superannuation and Single Touch Payroll capabilities help deal with the added complexity of compliance.

So how does Wiise payroll empower employees?

Employee self-service lets employees manage their own information with a touch of a button, so your payroll officer doesn't have to. Employees can maintain their personal details, view payslips, submit leave, timesheets, expenses and more.
Gives your employees the freedom to swap shifts. Employees can manage their own time with the ability to see their upcoming shifts and accept or decline swapped shifts via the employee portal and push notifications.

How does Wiise payroll streamline processes?

The Wiise rostering functionality enables businesses to effortlessly build & template their roster. Rostering staff with real-time shift costs can help you easily manage and track your staffing costs and forward plan. You can also easily notify staff of their shifts via SMS and/or email with a click of a button.
The Clock Me In app records time and attendance helping businesses better manage their workforce and costs. Employees sign in, accept their shift and verify it's them – that’s it, they’re clocked in. Eliminating paper timesheets and enhancing the visibility of your team across multiple locations helps streamline payroll processes and give real-time insights into your operating costs.
Wiise Payroll gives you improved visibility of missing timesheets, making it easy to follow up on employees. Users can see a list of those who haven’t submitted timesheets for the given date range.
Automated payroll journal postings with dimensions lets you sync employee information and seamlessly reconcile between the payroll and accounting modules.

How does Wiise payroll ensure compliance?

Wiise is Single Touch Payroll compliant, meaning all your payroll information will automatically and securely be reported to the ATO to ensure you meet compliance.
Super Stream compliance automates super payments, streamlining your pay run process and saving you time.
Automated award calculations make it easy for your payroll manager to pay staff correctly. You'll receive automated notifications on any updates and changes to compliance, so you never have to worry. Having an efficient, compliant, and reliable payroll system in place, not only streamlines your processes and increases visibility over employee pay and expenses, but also helps alleviate the headache of staying up to date with legislation.

Wiise payroll is an all-in-one solution that does the heavy lifting for you. With powerful and scalable features, Wiise payroll helps gives clarity over your business so you can focus on what counts.