MYOB has announced it is ready to add a payroll service to its LiveAccounts online accounting software suite, and it won’t cost users a cent more than they currently pay.
Due to be launched early in April, LiveAccounts with Payroll will be offered for the same $25 monthly fee, with no limits on the number of users within a business, according to MYOB general manager, Julian Smith.
"With the increasing complexity of new legislation, such as the changes to student loans and KiwiSaver that will come into effect in the new financial year, payroll is too much to keep up with manually,” Smith says.
The addition will be especially helpful for sole traders, who may be avoiding taking the next step and hiring staff due to concerns about the time it will take to manage their pay.
"Many New Zealand companies that have succeeded on the global stage have started out as sole traders, creating a staff base as they grow,” Smith says, "and many New Zealanders get their first employment opportunity in a small business.
"While the extra set of hands may lighten the workload, the reality is that it adds another layer of tax and compliance issues.”
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