A significant number of Australian companies is found to be non-compliant and not meeting statutory requirements. According Australian Payroll Association (APA) managing director Tracy Angwin, a lot of people who are employed on payroll are not a proper fit for their jobs. They have usually fallen to that career, unlike a qualified Paramatta accountant who is highly knowledgeable of the process.
Assigning internal employees for payroll may save you some money but the risks are certainly larger.
Businesses can reap huge benefits with a lower break-even point. They are able to focus on designing their offerings specific to the needs of smaller niches. Highly satisfied customers mean stronger brand equity, which also translates to higher margins and faster ROI. This can be done by raising price along with quality, as well as upselling and cross-selling or reducing unnecessary expenditures on fixed cost.
Wrong Break-even Point
Parramatta accountants remind that while reaching the break-even point may be something to look forward to, this might be hindered by miscalculation.