What a SaaS accounting solution means for your business

24 October 2022

Here, at Gunson McLean, we know a lot about finances, taxes, people and businesses. We know, that for your business to survive, you need to provide modern solutions, and business and people management platforms that can provide this. And we know just what to recommend to our clients.

 

We are huge fans of MYOB which provides one central platform to manage your business and your payroll. MYOB is what’s known as a SaaS (Software as a Service) system, meaning that it removes the hassle of installation, storing and upgrading software, as it is all done for you online. They provide automated accounting software to help you avoid being bogged down in bookwork.

 

Sometimes called browser-based or web-based software, SaaS applications typically run on the providers hardware and can be used for a wide range of core business functions.

 

If there is one thing we have learnt from the Covid-19 pandemic, it’s that flexibility is key. Flexible working environments, flexible hours, flexible …. well, everything! MYOB links that flexibility with effective solutions. They have online accounting and payroll solutions for any business, of any size.

 

Other advantages to using SaaS solutions is that it is subscription based so you pay for what you use, and can upgrade product type as and when you may need to do so, meaning reduced expenditure plus flexibility. SaaS services are often paid via an annual or monthly subscription which covers the cost of the software licensing, service, and support.

 

MYOB allows you to do your accounts and business needs wherever you choose to do so. It provides the help you need for business growth including automated expense management, payroll, and collaboration from any browser. This makes it easier for staff who work in flexible environments rather than at the same desk every day. Cloud storage also ensures that staff work with up-to-date data, and backups of your data happens automatically.

 

With Gunson McLean being a full service, expert MYOB practice this means that we have the ability to recommend which MYOB package is the right fit for you and your business. If you also use MYOB then there is no time taken moving data from one service to another, it’s easy. This reduces expenses too, as the time taken is minimised.

 

If you think that a refresh of your current software is needed, or if you would like to discuss moving to MYOB and the benefits it can bring you and your business, then get in touch with us - we’ll buy the coffee!

Payroll Doesn’t Have to Be a Headache: How to Simplify & Stay Compliant

1 October 2025
Managing payroll can sometimes feel like navigating a maze; complex regulations, tight deadlines, and countless calculations can easily overwhelm business owners. However, with the right strategies and tools, payroll can be streamlined into a smooth and efficient process. Here’s how you can simplify your payroll process while ensuring full compliance. Embrace Technology Choose the Right Payroll Software Investing in good payroll software is one of the best steps you can take. Look for features that automate calculations, tax submissions, and generate detailed reports. Many software options now offer cloud-based solutions, providing the flexibility to manage payroll anytime and anywhere. Stay Informed on Compliance Know the Laws It’s crucial to stay updated on federal, state, and local labor laws, as these often change. Non-compliance can lead to penalties, so consider subscribing to industry newsletters or updates from trusted legal resources. Record Keeping Maintain meticulous records of employee hours, wages, and payroll taxes. Proper documentation safeguards you from legal troubles and helps resolve any discrepancies promptly. Set a Consistent Payroll Schedule Consistency is key in payroll processing. Choose a payroll frequency that suits your business - whether it’s weekly, bi-weekly, or monthly - and stick to it. This creates predictability for both you and your employees, allowing better financial planning and cash flow management. Automate Tax Calculations Manual tax calculations are prone to errors. Automating tax withholdings through your payroll software ensures accuracy and compliance with the latest tax rates and contributions. This reduces the likelihood of costly mistakes and late penalties. Regularly Audit Your Payroll Process Conduct internal audits periodically to identify errors and inefficiencies in your payroll process. This proactive approach helps catch and remedy issues before they escalate, ensuring your business remains compliant and efficient. Consider Outsourcing  If payroll complexities feel overwhelming, consider outsourcing. This allows you to focus on your core business activities while ensuring that payroll is handled by experts who stay abreast of ever-changing regulations and compliance requirements. If payroll continues to be a challenge, our team of experienced accountants is here to help. We offer comprehensive payroll solutions tailored to fit the needs of small and medium businesses, ensuring compliance and efficiency at every step. Contact us today to learn more about how we can support your payroll processing needs.

Becoming an employer of choice

24 September 2025
How to attract great people to your business and how to keep them. Three tips to help you rise to the challenge to become an employer of choice.

What the IRD Expects from You as an Employer

17 September 2025
As an employer, there are several obligations and expectations set by the Inland Revenue Department (IRD) that you must adhere to. Understanding these requirements is essential for maintaining compliance and avoiding any potential penalties. Let's take a closer look at what the IRD expects from you as an employer. Register as an Employer Before you hire your first employee, you are required to register as an employer with the IRD. This is a crucial first step in ensuring that you can meet all tax and payroll obligations. Accurate Record Keeping The IRD requires you to keep accurate and detailed records of all employment-related transactions. This includes: Employee personal details Wages and salary paid Payroll dates and methods PAYE deductions and remittances Details of benefits or allowances provided to employees Maintaining proper records helps ensure that you are reporting and remitting the correct amounts to the IRD. Deduct PAYE Tax You are responsible for deducting PAYE (Pay As You Earn) tax from your employees' pay. This involves calculating the correct amount of PAYE and ensuring it is deducted from each employee's salary or wages before their net pay is provided. Pay Employer Contributions In addition to PAYE, you may also be responsible for contributing to your employees' social security and retirement benefits, depending on the country you operate in. These contributions are typically paid in conjunction with PAYE tax. Issue Statements and Forms At the end of the tax year or upon employment termination, you should provide each employee with a statement showing their total earnings and PAYE deductions. Additionally, filing the appropriate end-of-year PAYE schedules with the IRD is required. File Employer Returns Employers are required to file regular returns with the IRD, which could be monthly, quarterly, or annually, depending on specific regulations. These returns should accurately report all payroll activities, including PAYE deductions. Handle Tax Codes and Changes It's crucial to apply the correct tax codes for each employee's circumstances. Any changes in employment status or tax code must be updated promptly to ensure accurate tax withholdings. Comply with Audit Requests The IRD may audit your business to ensure compliance with employer obligations. As such, being prepared to provide all requested information and records in a timely manner is vital. Adhering to these expectations from the IRD is not just about compliance; it's about fostering a transparent and trustworthy relationship with your employees and the tax authorities. If you need assistance with understanding or managing your obligations as an employer, consider reaching out to a professional accountant. Our team is here to help you navigate these responsibilities seamlessly, ensuring peace of mind and allowing you to focus on growing your business. Feel free to contact us for further information or assistance.
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