When employing an internal bookkeeper there are many hidden costs that are not always calculated in. We have provided an example below to ensure that the following areas have been taken into account. Normally four weeks (pro-rata) per year, therefore the employee only works for 48 weeks of the year for $25,000.
Include annual leave costs of 7.69% (4/52). Employee gets ten days (pro-rata) sick leave per year, so include sick leave cost of 3.85% (2/52). As this is a varied percentage, depending on industry (some workplaces are as high of 15% of total annual wages), 5% is used as an example here.
Include annual leave costs of 7.69% (4/52). Employee gets ten days (pro-rata) sick leave per year, so include sick leave cost of 3.85% (2/52). As this is a varied percentage, depending on industry (some workplaces are as high of 15% of total annual wages), 5% is used as an example here.
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With the Federal and State Government tightening the regulations on account keeping procedures, including lodgement of activity statements for GST, PAYG Withholding and Payroll Tax, business owners are under more stress than ever to make sure they comply with all requirements.
Apart from employment costs, an internal bookkeeper needs to attend regular seminars/webinars provided by either MYOB or Reckon, Australian Taxation Office and State Revenue Office (Payroll Tax, if necessary), in order to keep updated.
Apart from employment costs, an internal bookkeeper needs to attend regular seminars/webinars provided by either MYOB or Reckon, Australian Taxation Office and State Revenue Office (Payroll Tax, if necessary), in order to keep updated.
Having access to correct statements, including Profit & Loss, Balance Sheet, Debtor (Customer), Creditor (Supplier) and Payroll reports can keep YOU informed, therefore in control of the business. Pentagon Bookkeeping can provide these reports via Computerised Accounting Programs, such as MYOB and Reckon (QuickBooks).
Pentagon Bookkeeping does not warrant, guarantee or make any representations regarding the currency, correctness, accuracy, reliability, or any other aspect regarding the characteristics or use of the information presented in the service and/or links thereto and expressly dislclaims liability for errors and omissions in the contents of this website.
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