Hiring Your First Employee? Here's What You Need to Know

Your Bookkeeping Matters

This season we’re focused on growth and levelling up, which is why this episode is all about what you need to know when you hire your first employee.

The huge topic of payroll is something I love talking about, as it’s not a simple or straightforward process anymore. There is so much to do, and it’s a really important area to be all over.

First up, we run through what you need to have in place before your new team member starts their new job. I run through the important documents and insurance you need to have sorted before your new employee’s first day.

Next up, I take you through the paperwork you need to have ready for them to sign, why it’s important and where you can find some of these key documents. Superannuation is an important part of this process, and I explain what to do if you don’t get the right forms back.

I also run through award wages, why paying these rates is absolutely non-negotiable, and why you need to register for PAYG with the Australian Tax Office (ATO).

Finally, I run through all the reasons you need to be using online payroll software. Thankfully, the days of spreadsheets are over for this, and I explain why using this software is now absolutely essential due to single-touch payroll requirements.

Payroll is not as simple as it used to be and you can land yourself in hot water if you’re not doing things right. It’s something you need to have a really good understanding of as a business owner.

Hoever, don’t stress as you’re going to feel all across things once you’ve listened to this episode so jump on in (and don’t forget your notepad and pen!).

Links Mentioned:

• ATO Superannuation Information
• Fair Work Information Statement

Previous Episodes Mentioned:

Ep 6 - What is a BAS (and key areas to review)

Other helpful links:

• Join us in the Accounted For You Numbers Club on Facebook here
• Join my Numbers List for small business news and fun, helpful tips here
• Download the New Biz Checklist here
• Download the FREE P&L Generator here
• Check out my blog here!
• Connect with Lisa Turner:

Instagram:@accountedforyou

Website:https://accountedforyou.com.au/