Overview
Beeswax handles your payroll and automatically reports it to the Australian Taxation Office (ATO). We use a fully integrated system called Single Touch Payroll (STP).
This means you don't need any third-party tools to stay compliant with the ATO. Every time you pay your team, Beeswax safely takes care of the reporting for you!
Note: Payroll is currently available for Australian businesses only. Support for additional regions is planned for the future.
1. Setting Up Your Team
Before you can run payroll, you need to set up your team members. Think of this as giving Beeswax the blueprint for how each person gets paid.
You'll need to enter your employees' details:
- Tax File Number (TFN): Essential for accurate ATO reporting.
- Salary details: Their base salary or hourly rate.
- HELP deductions: Any study or training loan deductions, if applicable.
- Default payslips: Set up default templates so you don't have to start from scratch every time!
2. Running Payroll
Running payroll is how you actually pay your team and generate their payslips. Beeswax is designed for businesses with consistent payment schedules, like weekly, fortnightly, or monthly.
When you create a pay run:
1. Review the numbers: Make sure the pay period and amounts are correct for each employee.
2. Finalize the run: Once everything looks good, approve the pay run.
3. Automatic ATO Lodgement: Behind the scenes, Beeswax automatically packages this information securely and sends it directly to the ATO to meet your Single Touch Payroll (STP) obligations. You'll be able to see if the ATO has accepted or rejected it.
Leave Management
Beeswax tracks employee leave balances and provides a simple workflow for managing time off.
- Annual leave applications: Employees can submit leave requests for you to approve.
- Sick leave logging: Keep track of sick days against employee balances.
- Leave balance visibility: Both you and your team can see current leave balances at any time.
Tip: If you ever need to check past submissions to the ATO, you can view your STP Lodgements directly in your payroll settings!