There can be a lot of buzz words when it comes to workforce management and payroll.We've compiled a resource of the most common terms you might need clarification on.Simply type below or scroll down to find the term you're after.
Understand annual leave, the paid time off for employees in Australia, allowing rest and flexibility with 4 weeks accrued yearly.
Learn about annual leave accrual, the process of accumulating paid vacation days based on service length or hours worked.
Discover how an attendance tracker helps monitor employee attendance, absences, and tardiness for effective workforce management.
An Australian Business Number (ABN) is essential for businesses to meet tax obligations and compliance requirements.
The Australian Taxation Office (ATO) oversees tax collection and enforcement of tax laws in Australia for employers and businesses.
Award wages are minimum pay rates established by legal awards across various industries, ensuring fair compensation for workers.
Biometric attendance systems enhance accuracy in tracking employee attendance using fingerprints or facial recognition technology.
Break periods are designated times during shifts for employees to rest and recharge, ensuring compliance with labor regulations.
Carer's leave allows employees to take time off to care for sick family members, ensuring support during critical times.
Carry-over leave lets employees transfer unused leave into the next year, promoting effective leave management and flexibility.
Casual conversion offers long-term casual employees permanent positions after meeting specific criteria, enhancing job security.
A casual employee works on an as-needed basis without guaranteed hours but receives a higher hourly rate for flexibility.
A Charge Coupled Device (CCD) is used in biometric systems to enhance attendance tracking through accurate data capture.
The clock-in/clock-out system allows employees to register their working hours efficiently using various methods like apps or biometric systems.
Cloud-based payroll enables businesses to manage payroll online securely, providing real-time access and updates from anywhere.
Community service leave allows employees to participate in community activities while maintaining their regular income.
Compassionate leave provides employees time off when a close family member faces serious illness or death, offering crucial support.
Compliance ensures adherence to laws and regulations in workforce management, reducing legal risks and fostering trust in organizations.
Compliance deadlines are critical dates for meeting regulatory obligations, helping businesses avoid penalties and ensure timely submissions.
The contractor vs employee distinction highlights differences in independence and benefits, impacting tax obligations and rights.
Digital timesheets enable employees to log hours electronically, integrating with payroll to streamline wage calculations and reduce errors.
Dispute resolution involves processes like mediation and arbitration to settle workplace conflicts effectively and ensure fair outcomes.
Earnings Before Tax (EBT) represents total income before taxes, crucial for assessing a business's financial performance.
Employee availability indicates when staff can work, helping managers create effective schedules that align with personal commitments.
An employee portal is an online platform for accessing personal information, payslips, and HR data, enhancing employee engagement and efficiency.
Employee scheduling involves assigning shifts based on availability and business needs to optimize workforce management.
Employee self-service (ESS) platforms allow staff to manage personal information and requests, reducing HR workload and boosting autonomy.
Employee termination refers to ending a contract through resignation or dismissal, requiring adherence to fair procedures under the Fair Work Act.
Employee wellbeing focuses on physical and mental health in the workplace, promoting a supportive culture for enhanced productivity and morale.
Employment contracts outline terms of employment, including salary and responsibilities, ensuring clarity between employers and employees.
End-of-year financials summarize a business's annual performance through key statements like balance sheets and income reports.
EBAs are negotiated contracts that provide flexibility in wages and conditions beyond standard awards for employees.
The Fair Work Act 2009 regulates Australian workplaces, ensuring employees receive essential entitlements like leave and safe working conditions.
The Fair Work Commission resolves workplace disputes and ensures compliance with the Fair Work Act through mediation and arbitration.
The Fair Work Ombudsman enforces workplace laws in Australia, providing guidance on rights and responsibilities for employers and employees.
Family and domestic violence leave allows employees time off to address issues related to domestic violence, ensuring support during crises.
Fatigue management involves strategies to ensure adequate rest for employees, crucial for maintaining safety in demanding industries.
Financial year-end processing includes finalizing payroll and reports to ensure compliance at the end of the fiscal year.
A fingerprint scanner authenticates employee identity for clocking in/out, enhancing accuracy in time tracking while reducing theft risks.
Flexi-time offers employees flexible working hours, allowing them to choose start and finish times while meeting required hours.
Freelancers are self-employed professionals offering services on a contract basis, enjoying flexibility but managing their own taxes and benefits.
Fringe Benefits Tax (FBT) is levied on non-cash employee benefits provided by employers, impacting overall compensation costs.
A full-time employee works standard hours in Australia, receiving full benefits like paid leave and superannuation under employment laws.
Garnishments are court-ordered deductions from wages to pay debts like child support or taxes, ensuring compliance with financial obligations.
The general ledger is a comprehensive record of a company's financial transactions, essential for accurate financial reporting and analysis.
Gig workers take on flexible, short-term jobs as independent contractors, often lacking traditional employee benefits like paid leave.
Gross pay is an employee's total earnings before deductions, including salary, bonuses, and overtime, crucial for understanding compensation.
An independent contractor provides services under a contract, enjoying control over work methods while managing their own taxes and benefits.
Industrial relations involve the dynamics between employers, employees, and unions, focusing on negotiations over wages and working conditions.
Job costing tracks costs associated with specific projects, helping businesses allocate resources effectively and assess profitability.
Leave balance indicates the total accrued but unused leave an employee has, essential for managing time off entitlements.
Leave loading is an extra payment on annual leave to compensate employees for lost overtime opportunities during their time off.
Leave management tracks employee entitlements to ensure proper use of annual and sick leave while maintaining business operations.
The leave request process outlines how employees formally request time off, ensuring staffing needs are met while honoring entitlements.
Legal pay rates are minimum wage levels mandated by laws and agreements, ensuring fair compensation for employees across industries.
Long service leave entitlement provides paid leave for employees after extended service with the same employer, promoting retention.
Maternity leave allows employees time off before and after childbirth, supporting recovery and bonding with their newborns.
The minimum wage is the lowest legally required pay rate for employees, ensuring fair compensation in Australia as of 2024.
Mobile payroll apps enable payroll management via smartphones, increasing flexibility for employers and employees to access important functions.
Modern awards set minimum employment conditions across industries, ensuring fair wages and entitlements for all employees.
The NES outlines 11 minimum employment conditions in Australia, including annual leave and redundancy pay entitlements.
Net pay is the amount an employee takes home after deductions from gross pay, reflecting actual earnings available for personal use.
A no-show employee fails to attend a scheduled shift without notice, disrupting workflow and potentially leading to disciplinary action.
On-call scheduling requires employees to be available to work as needed, common in healthcare, often with an on-call allowance for readiness.
Overtime pay is additional compensation for hours worked beyond the normal schedule, typically calculated at a higher rate for extra hours.
PAYG withholding is a system where employers deduct income tax from employee payments and remit it to the Australian Taxation Office (ATO).
Paid time off (PTO) allows employees to take leave while still receiving their salary, combining vacation, sick, and personal days for flexibility.
Parental leave grants time off for parents after childbirth or adoption, which may be paid or unpaid depending on employer policies and laws.
A part-time employee works fewer hours than full-time staff but still receives proportional benefits like paid leave and superannuation.
A pay cycle defines how frequently employees are paid, such as weekly or monthly, impacting payroll processes and tax submissions.
A pay run is the payroll process that calculates and distributes employee wages for a specific period, ensuring accurate compensation and compliance.
Payment summaries provide employees with a yearly overview of earnings and taxes withheld, essential for personal tax return completion.
Payroll API integration connects payroll systems with other business tools to streamline data flow and enhance payroll processing efficiency.
Payroll audits review company payroll processes to ensure accuracy and compliance with tax laws and wage regulations, identifying discrepancies.
Payroll deductions are amounts withheld from gross pay for taxes, superannuation, and other contributions, impacting net earnings.
Payroll journal entries document payroll transactions in accounting systems, tracking wages, taxes, and deductions accurately.
Payroll management software automates payroll tasks like calculating wages and generating payslips, reducing errors and increasing efficiency.
Payroll reconciliation ensures payroll calculations match actual payments made to employees, verifying accuracy in tax withholdings and contributions.
Payroll reports summarize employee earnings and deductions over a period, aiding in compliance tracking and financial decision-making.
Payroll tax is a state tax employers pay based on total wages paid to employees, varying by region with specific thresholds and rates.
A payslip details an employee's earnings for a pay period, including gross pay, net pay, deductions, and superannuation contributions.
Permanent staff have ongoing contracts providing job security and benefits like paid leave under the National Employment Standards (NES).
Personal leave allows employees time off for health reasons or caregiving duties, ensuring income stability during unforeseen circumstances.
A Profit and Loss (P&L) statement summarizes a company's revenues and expenses over a period, reflecting its financial performance.
Reconciliation of wages ensures payroll transactions match financial statements, confirming accurate employee payments and deductions.
Roster optimisation creates efficient work schedules by aligning employee availability with business needs, minimizing labor costs and ensuring coverage.
Rostering compliance ensures employee schedules adhere to labor laws regarding hours, breaks, and days off, promoting worker well-being and avoiding penalties.
Rostering software automates shift assignments based on availability and skills, optimizing staff allocation while considering labor laws and preferences.
STP declaration finalisation closes payroll records for the financial year by submitting accurate data to the ATO by July 14 each year.
STP reporting requires employers to report employee pay and tax details directly to the ATO every payday, streamlining compliance processes.
Salary sacrifice allows employees to exchange part of their salary for benefits like increased superannuation contributions, enhancing retirement savings.
Shift allowance provides additional pay for employees working irregular shifts, such as nights or weekends, compensating for less desirable hours.
Shift differentials are extra wages for employees working less desirable shifts, rewarding them with higher pay for night or weekend hours.
Shift patterns define recurring work schedules, such as fixed or rotating shifts, ensuring businesses effectively cover operational hours.
Shift work involves employment outside traditional hours, including nights and weekends, common in industries requiring 24/7 operations.
Sick leave allows employees to take paid time off when unwell or injured, ensuring recovery without income loss and supporting family care needs.
Sick leave accrual tracks how employees earn paid sick leave over time, allowing for time off without pay reduction based on hours worked.
Single Touch Payroll (STP) simplifies reporting payroll information to the ATO each pay run, automating tax and superannuation submissions.
Stapled superannuation mandates that an employee's super fund follows them between jobs, preventing multiple accounts and reducing fees.
Superannuation is a mandatory retirement savings system where employers contribute a percentage of earnings to ensure financial security post-retirement.
Superannuation compliance involves meeting legal obligations to pay employee contributions at required rates to avoid penalties from the ATO.
The Superannuation Guarantee mandates employers contribute a percentage of employee earnings to their super fund, currently set at 11.5%.
A Tax File Number (TFN) is a unique identifier issued by the ATO for managing tax records; providing it ensures correct tax calculations for employees.
Tax reporting involves submitting financial information to authorities about income and deductions, ensuring compliance and avoiding penalties.
A tax return is an annual submission detailing income and expenses to calculate tax liabilities or refunds with the Australian Taxation Office (ATO).
Tax withholding is the portion of wages held back by employers for taxes; it ensures employees have their tax obligations met throughout the year.
Taxable income is the portion of earnings subject to taxation after deductions; understanding it helps individuals manage their tax liabilities effectively.
Temporary staff are hired for specific periods or projects, often covering seasonal work while entitled to benefits like sick leave if employed long enough.
Time and attendance software automates tracking employee hours worked and integrates with payroll systems for accurate wage calculations.
A time clock tracks when employees start and end shifts using various methods like biometric scanners or mobile apps for accurate payroll records.
Time theft occurs when employees are paid for hours not worked; it can impact productivity, prompting employers to use tracking tools to mitigate risks.
Time tracking software records employee hours worked and integrates with payroll systems to ensure accurate payment for all hours logged.
Timesheets track hours worked by employees during a period; they can be manual or digital and are essential for accurate payroll processing.
Unpaid leave allows employees to take time off without pay for personal reasons; it may be granted after paid entitlements are exhausted.
Workplace agreements outline specific employment terms negotiated between employers and employees, offering flexibility beyond standard awards.
Workplace health and safety (WHS) ensures employee well-being through risk identification and mitigation, maintaining a safe work environment.
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