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5 Things Australian Employers Should Know About the Timesheet

5 Things Australian Employers Should Know About the Timesheet

As an Australian employer, you know how important it is to pay staff on time. Not only are there lots of legal requirements to staff pay, but there are also moral ones—you value your staff, so want to be sure you treat them fairly.

In that case, be sure you understand the basics of the timesheet. A timesheet is simply a record of the hours worked by each employee, which you’ll then use to process payroll.

What do you need to know about timesheets? Keep reading to find five things all Aussie employers should know about how to best use timesheets.

1. Set Your Timesheet Billing Cycle First

First, decide on your billing cycle—this is the frequency of which you’ll pay your staff.

Some companies pay monthly, bi-weekly, or weekly, but the choice is yours. It’s important to decide though, because each timesheet submitted will represent one pay period. This means staff need to enter their employee work hours correctly so they’re paid on time and for the right amount of work they did within the billing cycle.

2. Understand Australian Overtime Laws

As an Australian employer, you’re legally governed by overtime laws. These vary based on your industry, but are put in place to ensure staff are paid fairly for extra work they did.

Make sure you understand the laws, since overtime can be expensive—this means you might need to ensure staff only work and bill for the correct hours.

3. Timesheets Can Be Digital

Gone are the days when a timesheet had to be done with a pen and paper. Now, more and more companies are doing digital timesheets.

Staff can track their hours on a spreadsheet and then email it over to payroll, which can be much more efficient than managing everything on paper.

4. Make Sure Employees Understand Tax

A timesheet generally tracks the hours worked, pre-tax. It’s important for staff to know this, since the hours they bill for will likely be more money than the amount they’re paid in their paychecks.

5. Save Yourself Time Each Pay Period With Automation

As an employer, you might find that processing timesheets each month takes up too much of your time. If you’re looking for ways to make the process easier, consider automating it with a payroll service.

That way, timesheets can be managed with less effort and staff can get paid quicker—a win for everyone!

Develop Timesheet Procedures and Simplify Your Operations

If you’re an employer in Australia, it’s essential to know these facts about your timesheet procedures. You have a legal obligation to pay staff correctly and on time, so this means you need to use timesheets correctly.

To get started, research more on which type of timesheet is best for your company, then ensure you understand the taxation and overtime requirements. Once you’ve got a system in place, communicate it to all staff.

They’re sure to appreciate a company who pays them on time, so don’t delay!

Did you find this article helpful? If so, please read on to find more great content.

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