Can a I run two payrolls from the one company file for two different pay periods without any problems?

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Experienced Cover User Voni7
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Can a I run two payrolls from the one company file for two different pay periods without any problems?

Hi 

 

I am setting a new company file for a business that is moving from two ABNs to one ABN as at July 1.

 

As part of the process I will be bringing two business payrolls together into the same file. Currently these payrolls are running different pay periods, one Sat to Fri (fortnightly) and the other Wed to Tue (fortnightly).

 

My question is, can anyone foresee any potential problems with continuing to run these payrolls across the existing two pay periods from the one company file. 

 

Thanks in advance for your advice.

 

 

 

 

 

 

 

 

 

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Ultimate Partner GDay53
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Re: Can a I run two payrolls from the one company file for two different pay periods without any problems?

I currently have a couple of clients that have multiple payroll running in the one data file but they all run the different payrool for the same period eg week ends on a Wednesday.

The only problem I would think you might encounter is if you wanted to use  Timesheets.  You can only run one pay period if you use timesheets.

If my response to your query and has helped, please mark my post as a solution to help others in the future.
Graeme Day
Registered BAS Agent #24745540
First Class Accounts Clayfield
Mobile: 0402 841 627
gday@firstclassaccounts.com
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Ultimate Partner ronatbas
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Re: Can a I run two payrolls from the one company file for two different pay periods without any problems?

@Voni7

 

Unless you can redefine your postion as full time payroll I can see a lot of time issues, Both in the short term and the long term.

In the short term there are all of those things that have to be done in importing the new employees, contacting super companies, ATO, Work Cover providers, Payroll Tax Authorities, checking accruals, bank details  etc. This is at the time of year that you are going to be trying to reconcile your payroll and get out Payment Summaries for at least one of these entities

If you run timesheets it will not work at all with different start of week requirements.

With luck , they are separated by a week, so that you are not having to be running a payroll B while you are tidying up payroll A.

In the long term are there plans to allow one system to fade away by natural attrition or will both groups be maintained? You will need a couple of cheat sheets so that you only select the right people on a Monday pay run and not pick up any from the Wednesday payrun. And you will have to train someone to do it in case you ever take a day or two off.

We run a lot of payroll and if this came to us as a payroll and admin., we would run three files. We would take backups of each of the  existing files relabel them both Company name Pay A and Company name Pay B. Internally we change the company name and ABN to match the new details, set the payroll to electronic, make it a local file with no external links to add ons, bank feeds etc. On Monday we would run Payroll A enter all payroll details(leave, allowances and super), print payslips and prepare an ABA file for banking on Wed Payroll B we would repeat the excercise. 

In the master admin file we would make all employees inactive and create two new employees, both on monthly salary and with no entitlements or leave. These employees would be named Payroll A and Payroll B. who received pay from the Payroll cheque account. On a monthly or quarterly basis we would print an Activity Summary for each of the payroll files and pay the relevant employee on the master file the totals of the activity summary, overwriting each of the with the gross figure. Any payroll queries, either internal or external could be answered from the payroll files and the IAS/BAS from the master file. To maintain an Entitlements Liability account on the Balance Sheet we would make two journal entries per month, one from each file. 

Ron B
BAS Group
03 95588477

info@basgroup.com.au
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Experienced Cover User Voni7
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Re: Can a I run two payrolls from the one company file for two different pay periods without any problems?

Thanks for your response to my query. :-)

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