The much anticipated (well, anticipated for Chartered Accountants anyway…) Xero Payroll system is almost here (it’s live from 1 April 2015).
Without getting into too much dull (accounting) detail, Xero Payroll:
- Takes care of your tax, ACC, student loans and Kiwisaver
- Lets you offer your staff payroll giving, making it easy for them to donate to charity
- Makes Kiwisaver compliance simple by handling employee eligibility, contribution rates, opt-outs and contribution holidays.
- Child support deductions, court fines, MSD repayments, and IRD arrears are easily accounted for.
Here’s the cool bit:
- Your monthly PAYE returns are prepared automatically.
- You can add a “Payroll Administrator”, who can only see the payroll section, keeping your other financial information private.
- It automatically calculates leave entitlements and produces payslips (handy if you’re not already using a payroll product).
My favorite bit is the new employee app (iOS coming soon). Your employee gets access to their own records in Xero. This lets them view their pay history, payslips and annual leave balances. It also lets them submit a leave application which goes to your Payroll Administrator for approval, streamlining the whole leave process.
Now, Xero Payroll isn’t for everyone – if you’re using Flexitime currently we’d recommend you stay put. For what it’s worth though, we’re going to be switching over to Xero Payroll from our current payroll provider…we’re looking forward to a much easier to use interface.
If you’re interested in switching over to Xero Payroll get in touch with us now. We can help you get it in place for the start of the new financial year.
PS: Xero have tweaked their pricing slightly for the new Payroll system. Here’s what it’ll cost:
Checkout the prices below