Talking Cents

The advantages of paying your employees fortnightly, by your small business accountant in Melbourne

There are actually benefits for business that choose to pay their employees on a fortnightly basis. So our small business accountants in Melbourne will tell you about the advantages involved in doing this.

When you start to hire employees for your business, our small business accountants in Melbourne’s CBD suggest they pay their workers fortnightly because of the following benefits:

• It will drastically reduce the processing time involved in calculating the hours, overtime, super etc.
• It saves money especially if you are outsourcing your accountant, this way you are only paying them once every two weeks instead of every week
• There is a smaller paper trail when it comes to tax time, which can be very helpful
• If you have workers who don’t do direct deposit transfers, it shows that you aren’t making your workers go to the bank once a week to cash in cheques

We hope that our accountants for small business in Melbourne have given you some insight as to why you should consider fortnightly payments.

Feel free to get in contact with our small business accountants in Melbourne with any enquiries that you may have.