How payroll works in NZ
What is cloud based payroll software?
Cloud-based payroll software is accessed, stored and managed through the internet (as opposed to a programme installed on your device). Using cloud-based payroll software means you can run payroll efficiently while ensuring that your payroll information is safely stored on an online server. This is an easy way to cut out the paperwork and keep risks to a minimum.
What is a PAYE Intermediary?
A PAYE Intermediary is a party that engages with IRD on your behalf and assists you to fulfil your legal obligations as an employer.
These services include:
- Filing your employee information forms within two working days.
- Paying IRD the deductions made from your employees’ pay each month.
- Resolving queries with IRD.
PAYE Intermediaries can be payroll software providers (like Thankyou Payroll), accountants or tax agents.
Do I need to use a payroll software to run payroll?
It’s not a necessity but it will certainly make your life easier and could save you money down the line – especially as a small business with a million other things to do. As a PAYE Intermediary and payroll software, Thankyou Payroll helps you to stay compliant and avoid unwanted fines. Plus, you can get payroll support as and when you need it!
What are the steps to process payroll?
Your payroll process depends on whether you have chosen to tackle all of your payroll obligations by yourself, or you have opted to share the load with a payroll provider such as Thankyou Payroll.
Choosing a PAYE Intermediary & payroll software such as Thankyou Payroll greatly reduces the time and effort it takes to run a pay. All you need to do is input your employees’ hours to our payroll software, choose a payday, and transfer your funds. From here, we run the calculations and take care of your payday filing, employee payslips, PAYE, Kiwisaver, and other tax payments.
Learn more about the steps to process a pay with Thankyou Payroll.
