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Bookkeeping For Dummies, 2nd Australian & New Zealand Edition by Lynley Averis, Veechi Curtis

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Chapter 11

Reporting for Payroll

In This Chapter

arrow.png Reporting for how much wages tax and superannuation a business owes

arrow.png Keeping on top of other kinds of payroll expenses

arrow.png Tidying up payroll accounts at year’s end

arrow.png Providing employees with wages summaries, and more

arrow.png Making sure you toe the line with minimum pay and conditions

Bookkeeping is the only word in the English language I can think of that has three double letters in a row (double ‘o’, double ‘k’, double ‘e’). All this doubling up is entirely appropriate when you think of the winning strategy of all good bookkeepers: Double-checking, double-checking and then double-checking again.

I guess the heavy thing about being responsible for payroll is the level of responsibility involved. If you make a mistake, maybe reporting the wrong amount of tax or wages on an employee’s annual summary, that person can end up with a scary tax bill. If you forget someone’s superannuation payment, that employee either misses out or, if the ATO discovers ...

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