Due to constant changes, payroll requires attention and expertise as well as many years of experience in the field. Entrusting such a task to someone can be very challenging, especially if the entire process must be in accordance with the Law.
Payroll is an extremely important part of financial operations.
Proper payroll accounting is of great importance for any organization because it ensures transparency and fairness within the work environment, which strengthens employee trust and satisfaction. Correct accounting has an impact on team morale and motivation, as employees who believe they are fairly rewarded for their efforts show greater engagement and productivity.
In addition, compliance with legal and tax obligations is crucial for avoiding financial penalties and legal complications that can arise due to accounting errors. Such errors are a common reason for changing accounting agencies, which can be an even greater reason for overall dissatisfaction.
Also, proper payroll accounting helps preserve the company’s reputation and build a positive image.
By using specialized payroll accounting services, companies can be sure of the accuracy and reliability of their financial reports, which is the basis for making informed business decisions. Proper payroll accounting contributes to stable business operations and allows companies to focus on their core competencies and growth.
Our experienced team and expertise in this field guarantee dedication and security while respecting the Law. Let us take care of your personnel records and salaries, as well as adjusting your calculations to your system in accordance with the Labor Law, the Collective Agreement and your Work and Salary Regulations.
Our team continuously monitors legislation in the Federation of Bosnia and Herzegovina, Republika Srpska and Brčko District.
Why is it important to calculate salaries?
Payroll calculation or payroll processing is an essential item in any business for several reasons:
- Legal Requirements: Labor and tax laws require employers to accurately calculate employee salaries and pay income taxes, plus employee contributions. Payrolls must be accurate to avoid penalties and potential legal issues.
- Transparency and fairness: Payroll processing is essential because it ensures transparency in employer-employee relations. Properly calculated salaries ensure knowledge of the company’s situation, where more than 70% of employees perceive the company’s situation or so-called “company health” in terms of whether salaries are late or paid on time, whether all contributions are paid on time for health and pension benefits, etc.
- Employee motivation: Properly calculated salaries contribute to employee satisfaction and maintaining motivation in the workplace because employees feel secure in their job and a good connection with the employer. When employees receive fair compensation for their work, this is most often manifested in a positive impact on their productivity and engagement, which results in loyalty, dedication and improved work ethics of employees.
Be in the company of the best – all in one place
We handle payroll and personnel records for employees from all regions, from first employment to retirement. In addition, our services include:
- calculation of fees for external collaborators
- reports for the Tax Administration, Health Insurance Institute, Pension and Disability Insurance Institute and other institutions
- cooperation with tax officials
- internal reports by location and type of expenses or projects
- and other services that we adapt to your needs
You also don’t need to worry about being able to interpret our calculations. From our payroll program, we’ll send you a journal entry in the format that suits your accounting system, along with your bank’s e-banking order package for payroll taxes and contributions.
See also our services: Accounting, Tax consulting, Business consulting, Audit services.
Reference: Plastron – Obračun plata
