5 reasons to use KeyPay with Xero
If you’re an avid Xero user you might be wondering why you’d use a separate payroll product like KeyPay when Xero already has payroll built in.
To help answer this question we’ve put together the top 5 reasons why you might choose KeyPay over Xero for payroll.
1. Enhanced Employee Portal
KeyPay has a feature rich self service employee portal which allows employees access to a wide variety of payroll functions in an easy to use online portal. Giving employees access to their data through the online portal, greatly reduces the workload on your payroll administrators as questions about payslips, leave balances and updates to employee information can all be handled by the employees.The employee portal is available to all KeyPay users and provides great features such as:
- Allow employees to edit and view their basic details, bank accounts and super funds
- View leave balances
- Create leave requests
- Access all past payslips, documents and payment summaries online
Xero payroll does provide an employee self service portal, but for the moment it’s mostly read only. With KeyPay you can choose to allow employees to edit and update their details online at any time which eliminates wasteful double handling and reduces the amount of payroll administration that needs to be done.
2. Payroll Tax
If you run a larger payroll or payroll across multiple states you’ll know that dealing with payroll tax can be a nightmare. With KeyPay, dealing with payroll tax is made easy with built in payroll tax reporting. Not only can earnings be tracked at an employee level, but earnings can also be tracked by location so ensuring that you meet your payroll tax obligations for employees that regularly travel interstate couldn’t be easier.
3. Employee Management Portal
When managing payroll for larger organisations, the person that runs the payroll is often not the same person that is responsible for approving leave or timesheets for staff in specific locations or departments.With KeyPay the employee management portal will allow you to create your own employee groups so you can allow managers access to the timesheets and leave requests for their departments so they can review and approve them as they are made available by the staff in their groups.KeyPay allows you to define infinite numbers of employee groups and allow access to any number of managers and employees at no extra cost so you can setup your employee groups in the way that makes the most sense for your business.
4. Location Based Reporting
KeyPay has a core feature called “locations” which allows employees, earnings lines and timesheets can be assigned to which can then be used to report against. Location based reporting gives you a unique view into the finer details of your payroll which can then be used to make informed staffing decisions.
5. Advanced Payroll Configuration
KeyPay is designed to be flexible so you can set up KeyPay to suit the way you run your payroll. A number of advanced payroll functions are available to help configure KeyPay to run your payroll just the way you like it:
- Add unlimited pay categories
- Add recurring deductions that can be set to expire after a certain date or amount
- Custom leave categories that can be configured to accrue on a pro-rate basis
- Pay employees on daily, hourly or annual rates
- Setup multiple pay schedules on a weekly, fortnightly or monthly basis