Contractor payroll services Australia offers a wide range of services that are tailored to meet the needs of both contractors and companies. The advantages to using a payroll service include: no or little paperwork, a single application and tax free pay, easy transfer of employees, no need for special training, no complicated paperwork, no waiting period, no penalties for leaving early or returning late, no need for referrals, no audits and no need to keep separate books for each client. This reduces accounting knowledge, increases efficiency and provides the contractor with an accurate picture of his or her bottom-line. There are many other benefits as well including: easier time completing payroll, more efficient service delivery, reduction in fraud and error, no need to outsource other services such as accounting, risk management and human resources.
The service is designed for contractors who have their own companies or small freelance operations. There are several companies that provide these types of services in Australia and the most popular one is QuickBooks. This software program automates all accounting functions, from bookkeeping to tracking employee hours. It has been specifically designed for contractors to reduce the tedious tasks that keep contractors’ companies running and allows them to focus on the core business of providing good services.
The software program can generate invoices, keep track of employees, calculate taxes, track hours worked and print reports. QuickBooks contractor payroll services in Australia also include a free online tool that enables contractors to calculate their tax obligations and payables in a matter of minutes. This online calculator can be accessed from any computer and is a great way for contractors to review their finances. It helps to eliminate errors that would otherwise arise from forgetting a payment, or a receipt that may have become lost.