Payroll

The Payroll module for New Zealand users of VisionVPM facilitates calculation of pays and holidays, and prints payslips and reports. It can be integrated with the General Ledger in VisionVPM.

The payroll system is designed for use with multiple companies but in the majority of cases there would only be one company.

It has the facility to deduct taxable or non-taxable amounts from employees' wages, for example health insurance, Christmas club, child support, KiwiSaver and student loans.

It streamlines the pay calculation and end of year reconciliations, and produces various reports: employee information, allowances, deductions, pay totals, holiday and sick leave and the Employer Monthly Schedule. The Employer Monthly Schedule is now required by the Inland Revenue Department for the completion of the IR348 form.

The system keeps track of when an employee has been paid, therefore alleviating the possibility of duplicate pays.

The tax calculations apply for pay periods ending on or after 1 April 2009:

• The maximum rate for ACC earners' levy has increased from $102,922 to $106,473.
• Earners levy increase to 0.017 ($1.70 per $100.00)
• The student loan threshold increases from $17,784 to $19,084
• The following table details the tax rate changes.

Information regarding tax rates was current at the time of writing. Please consult Inland Revenue or your accountant for further information.