Payroll Gross Pay Country

FastTrack360 enables customers to process a gross to net payroll for Australia, New Zealand and United Kingdom.  These are referred to in this section as ‘Net Pay Country’.  This is because FastTrack360 is able to calculate the specific local tax legislation and produce a true net pay figure for the payees. 

There are recruitment businesses that have offices in many countries.  Invoices for their clients as well as pay for their workers needs to be generated for all the countries.  There isn’t a pay/bill system that is able to process local country payroll legislation for all countries and there are different approaches that a business can adopt to overcome this issue.

1. Have a payroll system and payroll knowledge in each country.  However, this is often costly especially if lots of countries are involved.

2. Use a payroll service provider in each country to process payroll.  Time and pay is captured by the agency and exported out and given to the payroll service provider to process payroll. The issue with this method is that the agency then does not have all their figures for analysis in one place and so they would have a time-consuming process to collate this information and analyse manually.

3. Use a payroll service provider in each country to calculate the local taxes and key in/import the figures back into the agency’s main payroll system to output the payslip and pay payees.

This model is for those countries referred to as ‘Gross Pay Countries’ since the determination of the local taxes will be made outside of FastTrack360.  Below is a simple diagram of how approach 3 process will function.

The  Payroll module allows payroll staff to do the following:

• create and maintain payee records

• create and process pay batches

• deliver payslips

• run payroll reports.