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Payroll Payments Writing cheques or making up cash envelopes for employee pays and ancillary payments is no longer necessary with Wage Easy Payroll. With its capacity to store company, employee and third party bank details, Wage Easy Payroll can compile a computer file in the format required by Australian Banking convention, for electronic banking (EFT). |
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At this stage, companies can use their existing file transfer arrangements to lodge the EFT file with their bank. Once the company has an established internet arrangement with its bank, Wage Easy Payroll will be able to make all the required wages and ancillary payments over the internet. This can happen at the same time as the award, tax and pay rate information is updated over the internet, at the end of each payroll period. |
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If the ATO, relevant superannuation funds and unions will provide the company with their EFT bank account details, all required payroll ancillary payments can also be prepared for EFT payment by Wage Easy Payroll. The frequency of these payments can be independently set to match the different periods required. When the superannuation funds and unions establish internet submission facilities, Wage Easy Payroll will be able to submit the required member contribution details as part of the routine internet operation after completion of pay slip preparation for the period. Suitable contribution reports can be printed for those funds and unions that can not currently accept internet submission. Naturally, Wage Easy Payroll still has the capacity to prepare pay slips for payment by cheque or cash. In fact, it is possible to nominate any combination of payment methods thus allowing part payment in cash, cheque, or to bank or building society for example. It is also possible to divide the pay to go into multiple bank accounts for the one employee. The pay destination options are very flexible. Wage Easy Payroll has several advanced features to assist in management of cash payments. Pay slips containing cash payments will have the tax amount adjusted to ensure that the cash amount will be a multiple of ten cents. Wage Easy Payroll can also prepare a cash dissection report, outlining the various currency units required to build all the cash packets. |
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