What’s the best time of year to start using MYOB Payroll?

If you’re opening up a new business and planning to employ a few people, you should use the payroll features of MYOB software right from day one (assuming you have a version of MYOB software that includes payroll features -- see My version of MYOB Accounting doesn’t include payroll. What are my options? for more details). On the other hand, if your business is already up and running and you’ve been recording wages in some other way up until now, you’re probably best to wait until July 1 next year. (Having said this, if it’s only August or September when you’re reading this, you can always go back to July 1 and enter all payroll transactions from that date.) Starting from July 1 makes sense because when it comes to the end of the year, all your payroll information will be in the one spot, ready to print end-of-year reports and payment summaries.

MYOB Payroll Tip: If it’s not practical for you to start on July 1, do at least start on the first day of a month. This way your superannuation calculations will all work out.

The contents from this page are taken from Making the Most of MYOB Payroll, 2nd edition, by Veechi Curtis, available online for only $19.95

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