The Payroll Revolution a book by Tracy Angwin

 

 

 

THE PAYROLL REVOLUTION

 

There is still misconception in business that payroll is a simple, single dimensional back office function for an employer. In reality payroll professionals are responsible for understanding and interpreting a myriad of ever changing regulations and legislation as well as managing the demands of employers and employees.

There are literally hundreds of potential pay components which can be paid to employees. Each of these are calculated based on the industrial instrument that determines an employee’s pay and each can be treated differently in relation to payroll tax, superannuation and leave accrual often depending on which state an employee works in. The permutation of ways to pay employees is impossible to calculate and subsequently the risk of incorrect payments to staff is high.

Each agency that touches the payroll department hands down significant fines for inaccuracies, and therefore the payroll professional holds a lot of financial responsibility, not just for typically the largest cost to the business, but for the myriad of fines if they get it wrong. When the payroll is correct, it typically goes unnoticed, when it’s wrong it can get headlines in the press!

The Payroll Revolution provides practical advice for those working in payroll how they can ensure they are highly valued in their organisation and be accepted as a professional in their field.