Top Payroll Software for Australian Businesses
Choosing the right payroll software is crucial for businesses of all sizes. With the implementation of Single Touch Payroll (STP) and the need for efficient, compliant payroll management, it’s more important than ever to select a solution that meets your specific needs. Here’s a comprehensive look at some of the top payroll software options available for businesses in the country.
Xero Payroll
Xero stands out as one of the most popular choices for businesses nationwide. This cloud-based solution offers a user-friendly interface and comprehensive features that cater to small and medium-sized enterprises.
Key Features:
- Fully STP-compliant
- Integrated accounting and payroll
- Employee self-service portal through Xero Me app
- Automated super calculations and payments
Xero’s pricing starts at $15 AUD per month for payroll services for 1-4 employees, making it an affordable option for small businesses.
QuickBooks Payroll Software
QuickBooks Payroll, powered by Employment Hero, offers robust automation features that simplify payroll processing.
Key Features:
- Proactive compliance alerts
- Employee self-service options
- Comprehensive payroll reports
- Customisable payroll templates
QuickBooks offers two plans: Standard Payroll at $5 AUD per employee per month and Advanced Payroll at $10 AUD per month plus $5 AUD per employee per month.
MYOB
MYOB is a well-established name in the accounting and payroll software market, offering solutions tailored for businesses of various sizes.
Key Features:
- STP-enabled reporting
- Automated tax and super calculations
- Leave management
- Integration with accounting functions
Rippling
While not as well-known as some other options, Rippling offers a comprehensive HR and payroll solution that’s gaining traction.
Key Features:
- Global payroll capabilities
- Extensive third-party integrations
- Automated employee onboarding and offboarding
- Advanced reporting and analytics
ADP Australia
ADP is known for its extensive third-party app integrations, making it a versatile choice for businesses with complex software ecosystems.
Key Features:
- Robust integration capabilities
- Compliance management
- Time and attendance tracking
- Comprehensive reporting tools
Sage Business Cloud Payroll
Sage offers a reliable payroll platform that simplifies employee payment processing for businesses and HR managers.
Key Features:
- Cloud-based accessibility
- Compliance with local tax laws
- Employee self-service options
- Integration with other Sage products
Payroller
For small and family businesses looking for a straightforward, cost-effective solution, Payroller offers an accessible option.
Key Features:
- STP-approved by the ATO
- Intuitive interface for managing different employee types
- Mobile app for on-the-go payroll management
- Rostering and timesheet features
Considerations When Choosing Payroll Software
When selecting payroll software, consider the following factors:
- STP Compliance: Ensure the software is STP-enabled and approved by the ATO.
- Integration Capabilities: Look for software that integrates with your existing accounting and HR systems.
- Scalability: Choose a solution that can grow with your business.
- User-Friendliness: Opt for software with an intuitive interface to minimise training time.
- Support and Updates: Consider the level of customer support and how frequently the software is updated to reflect changes in tax laws and regulations.
- Cost: Evaluate the full cost of the software, including any hidden fees for setup, upgrades, or additional features.
By carefully assessing your business needs and comparing the features of different payroll software options, you can select a solution that streamlines your payroll processes, ensures compliance, and supports your business growth. Remember to take advantage of free trials when available to test the software’s functionality and fit for your organisation.