While running a non-profit or charitable organisation is rewarding, it comes with challenges.
You’re constantly balancing mission-driven work with the administrative tasks that keep your organisation afloat.
One of those critical tasks? Payroll. It’s complex, time-consuming, and, if not done correctly, can lead to serious compliance issues.
But what if you could streamline this process to stay focused on your core mission?
Let’s explore how outsourcing payroll for non-profits allows this while also maintaining compliance and boosting efficiency.
What Does Outsourcing Payroll Involve?
First up, let’s define what it means to outsource payroll.
A payroll provider, such as a bookkeeper or accountant, can take care of the following tasks:
- Calculating weekly, fortnightly, or monthly salaries.
- Processing payroll in compliance with the latest ATO payroll legislation.
- Overseeing the entire employee payroll life-cycle.
- Calculating, withholding, and paying payroll taxes to the appropriate authorities.
- Managing holiday entitlements and expense claims.
- Consolidating error-free reports.
- Processing investment declarations and handling reimbursements and arrears.
- Preparing reports and resources for audit processes.
Now, let’s find out the benefits of outsourcing payroll for non-profits.
How Can Outsourcing Payroll Help Non-Profit Organisations?
Reduced Payroll Errors
Managing payroll for a non-profit organisation is not just about numbers; it’s about staying compliant with laws and maintaining the trust of your employees and donors.
What are the risks of payroll processing errors for employers?
- Legal and financial penalties due to non-compliance with tax and labour laws.
- Damage to the company’s reputation, potentially affecting business relationships.
- Decreased trust and morale among employees, impacting the workplace environment.
- Loss of time and resources in rectifying errors.
And for employees:
- Incorrect payment amounts and affected financial stability.
- Problems with tax withholdings, leading to tax-related issues.
- Errors in benefits and entitlements, potentially impacting health insurance and retirement savings.
- Loss of trust in employer, affecting job satisfaction and loyalty.
Clearly, the stakes are high! But outsourcing payroll can be a game-changer.
Why? Because you’re handing over this crucial task to professionals who eat, sleep, and breathe payroll!
They’re up-to-date on the latest tax laws and compliance requirements, so you don’t have to be.
What’s more, these bookkeeping and accounting firms use advanced systems specifically designed to catch errors before they become problems.
This means fewer mistakes and less stress for you and your team.
More Focus on the Organisation’s Core Mission
Outsourcing payroll services is a smart move to keep your focus where it matters most: on your mission.
Instead of getting bogged down with the nitty-gritty of payroll processing, tax filings, and compliance, you can redirect those resources – time, effort, and manpower – back into serving your community and advancing your organisation’s goals.
Improved Overall Efficiency
As well as guaranteeing accuracy and compliance and saving time, outsourcing payroll for non-profits has other benefits.
- Cost-effectiveness: Outsourcing can be more cost-effective than maintaining an in-house payroll department. Avoiding the expenses associated with payroll personnel, software, and infrastructure enables your organisation to allocate resources more strategically to core activities.
- Data security: Payroll providers prioritise data security, using robust measures to safeguard sensitive employee information. Such security helps minimise the risk of data breaches and ensures confidentiality.
- Scalability: Most payroll providers offer scalable solutions that adapt to the changing needs of your organisation, providing flexibility during periods of growth or contraction.
- Technology access: Outsourcing gives your organisation access to state-of-the-art payroll software and technology for enhanced payroll processing efficiency.
How Using the Right Payroll Software Can Help
Speaking of technology, what software do payroll providers commonly use for managing payroll?
Two popular options are MYOB and Xero.
MYOB caters to various business sizes, including non-profits.
It offers simple payroll solutions that automate everyday tasks, with key features to manage employee data, effectively process pay, and comply with tax obligations.
MYOB offers desktop and cloud-based options, allowing access from different devices and ensuring data security.
Additionally, MYOB’s integration with over 350 apps allows seamless connectivity with other business systems for overall operational efficiency.
Xero is a cloud-based software with similar payroll processing features.
It boasts a larger selection of third-party integrations in its App Store, offering over a thousand options.
This extensive range includes various applications for e-commerce, staff scheduling, and invoicing.
The choice between MYOB and Xero depends on specific organisational needs, including the scale of operations, budget, and desired integrations with other systems.
Let Geekbooks Do the Heavy Lifting for Your Payroll
Reclaim your time and energy from managing payroll and put it towards what matters- running your non-profit or charitable organisation.
Outsourcing payroll for non-profits to reliable, professional providers guarantees accurate, efficient, and compliant payroll processing.
The team at GeekBooks are such professionals.
We provide payroll services for Australian companies with 1-150 employees.
These services include
- Weekly, fortnightly, or monthly salary calculations
- Processing based on the latest ATO legislation
- Employee payroll life-cycle management
- Holiday and expense management
- Consolidated reporting
- And more!
But how much does outsourcing payroll cost?
Less than you think! We offer a range of affordable packages which start at just $25 an hour.
Our standard service features include regular monthly payrolls, secure payslips, compensation, sick pay, time attendance, and holiday entitlement for all eligible employees.
Another question business owners often ask about outsourcing payroll is: Will I lose control?
With our secure online portal and regular monthly reports, you’ll have all the control you need to keep track of your payroll data.
If you have any questions, your account manager will be on hand to provide support.
Still unsure if you should outsource your payroll?
We’re so committed to quality customer service that we provide a 30-day money-back guarantee!
For processing payroll peace of mind, contact the GeekBooks team today by completing this online booking form or calling 02 9158 3591.