The Importance of Payroll TrainingAnnette Liotta
July 23, 2009 — 2,586 views
Payroll training is something which should be undertaken by those directly working in or with the payroll department. Do you or your business need to do a refresher course? Or are you just starting out in business and need a quick crash course in successful payroll? Either way, you can not go wrong with a training course. So what is payroll and why is it important to keep up to date with the latest product updates, techniques and legislation about yourl requirements? Let's find out...
What is Payroll?
In a business sense, the term generally refers to the financial records, deductions, salaries and any wages that your firm has to deal with. Do you really have the time, money or the resources to track all of your employees' holiday leave, sick leave and maintaining your employee records manually? No? That is why it is worth while hiring capable staff members to ensure the smooth running of your business. Sometimes it can be a little bit overwhelming if you have no knowledge of how the payroll process works - especially if you are just starting out in business! Now what it really boils down to is your budget and how many staff you have to manage. But never fear! There will be a wonderful MYOB creation that will suit your business' needs; you just need to know where (and how) to find it! So where to now - do you know where to start? What MYOB product will work best for your business? Have you researched any of the numerous MYOB products on the market today? Will it be MYOB accounting, maybe MYOB Premier? Perhaps MYOB Payroll would be sufficient for your business' payroll needs.
Payroll In-House or Outsource?
Whether you decide to do your payroll in-house or decide to outsource your systems - you need to work out which option will give your business the maximum efficiency at the minimum cost. You and your staff might not be aware of the many procedures and systems that are in place, but you can bet your bottom dollar that they will be quick to make out if they get paid late or get paid the incorrect amount! You can never win! Especially with the ever-increasing variety of choices that personnel need to take into consideration when organising payroll; like individual employment agreements, the differences between the full time and casual staff requirements or the hundreds of different superannuation funds that your staff may be members of. They can make it almost impossible to keep payroll correct. That is why it is so important to have a well planned out system in the backend in place to help keep the business running efficiently!
Why is Payroll Training Important?
Payroll training is very important for the reason that it will help to give you (and your staff) an improved perceptive of how payroll actually works. Excellent payroll training should not only help prepare you and your business for the day-to-day payroll responsibilities, but it should also provide you with the knowledge to help deal with any minor payroll issues that may possibly come to pass. If you have an effective payroll system in place, your business, you and your staff should know how to use the payroll software correctly and are aware of the payroll process - they might even be a bit more sympathetic if issues arise! Your staff will stay happy (and probably a lot more motivated) if they are learning new skills and procedures.
How will Payroll Training Benefit my Business?
There are numerous training courses that are designed to help out those in the payroll department. Whether you are new to the department or even if you have been in the industry for years and are just after a refresher course - there will be a suitable training course suited to your skills (or lack there of!). So do not stress. Do not dread learning about the process, or about superannuation and taxes - as well as all of those other entitlements, like holiday leave! A holiday sounds nice doesn't it? Anyway, it might be a good idea to organise a workplace training session. There are a lot of different MYOB training programs that offer to come out to your workplace! But that can only really benefit your business if you use MYOB! These MYOB training sessions go through the process of setting up your payroll, how to process your employee pay runs using MYOB Payroll and a lot of other cool tips. The aim of these payroll training sessions is to show you more effective MYOB accounting and payroll processes and to help make your payroll duties so much easier and less stressful! The good thing about these training sessions is that they cater for either beginner, intermediate or advanced skill levels.
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