I’m doing Payroll myself, do I really need a Payroll Service?

The short answer is yes. Aspects of Payroll can be complex.

For example, the Holiday Act is a very complicated subject and requires professional judgement within the payroll management process. Regarding Holiday Act non-compliance, the Labour Inspectorate found that currently over 88% of organisations have required compliance activities, with the remaining cases still under consideration. The New Zealand Herald published in 2018 a study that found almost 20,000 current and former Auckland Council staff could have been underpaid $18 million in annual leave, sick pay, and public holiday entitlement. With this in mind, it is likely your payroll has not been 100% compliant!

Compliance is not the only reason why it is better to outsource with a Payroll specialist. As a small business owner, you likely already juggle wearing multiple hats. By outsourcing your payroll with a professional accountant, you can spend more time concentrating on your core business needs rather than crunching the numbers.

Payroll is an important aspect of any small business, particularly when it comes time to expanding the business and having employees to pay on time. We strongly suggest you do it right from the beginning and hire a specialist to avoid any issues down the line.