If your staff have taken leave to refresh recently (or glad to be back at work after the school holidays!) make sure you have processed the leave they’ve taken in xero.
Leave is reported differently to standard wages with STP (Single Touch Payroll) v2.
Keeping leave requests up to date makes it easy to see leave balances (important as we approach Christmas and the summer holidays).
Incorrect classification of workers puts your business at risk of receiving harsh penalties, so let’s make sure you know and understand your obligations.
In June 2023, the ATO updated their guidelines, so now is a good time to review.
You may find that over time a legitimate contractor could become an employee, so you need to monitor and review new and existing workers.
The penalties for misclassification of workers are not pretty.
Did you know
Xero customers who use online invoice payments get paid up to twice as fast compared to those who don’t.
Whoa, twice as fast!
What are you going to do about it??
See your options in the xero app store.
July-September super contributions, at the new rate of 11%, must be received (by fund) by 28th October.
Severe penalties will apply for late payments.
Yay a day off!
What does that mean for wages?
Fairwork says: Full-time and part-time employees are entitled to be paid their base pay rate for their ordinary hours if they are absent from work because of a public holiday
The Xero Beautiful Business Fund closes on the 6th October – get your entries in now!
There is more than NZ$750,000 up for grabs. Regional winners will win $20k AUD and if you are 1 of the 4 global winners – another $50k AUD!
There are four categories, you can enter as many categories as you like
Good luck! We’ll be cheering you on!
You crack open the cookie, only to be disappointed.
At times, starting your own business can be much the same.
Stop winging it, shut down the computer and go to dinner with family and/or friends (Deep fried icecream for us please), then come back tomorrow and focus on growing your fortune with a team of experts to support you.
Bosses and employees generally exchange labour for cash!
There’s a bit more to it than that. They also exchange lots of secret data.
How do your new employees safely exchange their personal details with your HR team (probably you!)? Please don’t say email, its just not a safe way to transfer TFNs and other identity documents.
Holler if you’d like to chat about ways to reduce the exchange of employee data with strangers.
Next week the cost of your Xero business subscription will increase.
When was the last time you reviewed your prices? Are you valuing your skills appropriately?
If you haven’t audited your charge out rates recently, its time to check your margins.
Need a hand to review your expenses? Ask us to help.
We are willing to lend a hand to support our local community, we’ve signed up again this year as pitch partners with our Turramurra and Lindfield Community Bank. In 2 weeks 10 local charities will present shark tank style to locals who have pledged to make donations.
We are proud to be 3 time supporters.
Are you willing to lend a hand? What can you do to support others?
Its not too late to partner up
