Wood & Stone Pvt. Ltd. Payroll Management System
Essay by vincen mathai • June 15, 2019 • Business Plan • 1,865 Words (8 Pages) • 588 Views
Services Agreement – Payroll
Wood & Stone Pvt. Ltd.
LEGAL AGREEMENT- Payroll Management System
21st May, 2019
Submitted By:
Vincen Mathai A-s4597312
Soshini Amarasinghe - s4587540
Amanpreet Kaur -s4584570
Services Agreement – Payroll Management Systems
Service Agreement dated: 21 May 2019
Between
Wood & Stone Pvt. Ltd.
And
TrackIT Consulting Ltd.
Background
Contractor: TrackIT Consulting Ltd. - (ABN: 45367857129)
TrackIT Consulting Ltd. is consulting firm that specialises in delivering management systems to small and medium businesses in Australia specialized in making cloud-based software solutions. The main office is based in Melbourne with its support centre located in Manila, Philippines.
Client: Wood & Stone Pvt. Ltd. - (ABN: 78665859649)
Wood & Stone Pvt. Ltd. is a growing furniture assembling and distribution business based in Geelong with its distribution centres based in Melbourne and Sydney. The client have been in furniture manufacturing business for past 7 years and have total workforce of around 20 staff and contractors.
Glossary
PAYG | Pay as you go (PAYG) is a system that withholds tax for the payees that they are required to pay as an incremental amount of your income to the ATO as part of their annual tax liability |
ATO | Australian Taxation Office |
Chart of Accounts | A list of the the accounts with details that a company has identified for recording financial transactions in its general ledger. |
Incident management | A type of IT service delivered where a support team aims to return the service to normal after a disruption, such that there is little to no negative impact on the business. Incident tickets are assigned a priority level based on the level of impact to the business operations. Level 1 tickets though very rare are most impactful at complete, or almost complete, shutdown of operations of the system. Vice-versa for level 3 tickets being most common with relatively the least impact to business. |
Business Day | A typical working weekday, excluding National Holidays |
Cause of Action | Violation of the Services Agreement or any other common law or equitable statutory cause of action arising out of the operation of this Services Agreement |
Scope of Agreement
The client is looking for a cloud-based software solution in order to shift their payroll management from a spreadsheet-based system to a comprehensive payroll management platform that allows to manage end-to-end payment, and concurrently related HR requirements.
Rights and Obligations
Technology Features
- Superannuation payments
- Direct or scheduled pay deposit to Accounts
- Tax management meeting PAYG Requirements
- Standard Business Reporting forms to meet ATO Compliance
- Time and attendance with leave tracking
- Payslips generation with ability to print and email
- Benefits management for medical insurance
- Custom reporting and analytics
- Complete access to Chart of Accounts
- Compatibility with multiple devices, such as PC and mobile
- Regular Updates on the cloud
- Self-service portal
Additional Services
- Three Tier Customer Online Support
- Incident management priority 1: Ticket resolution in 4 business hours
- Incident management priority 2: Ticket resolution in 1 business day
- Incident management Priority 3: Ticket resolution in 3 business days
- On-site training during implementation for Melbourne location
Fees and Payment Terms
Phase | Fee items | Price |
Implementation | Deployment | $2000 |
Training & Documentation | $600 | |
In-Service
| Unlimited Access for 3 users
| $40 per month per user |
Limited Access for users | $15 per month per user | |
Incident management- Priority 1 Support | $80 per hour of resolution time | |
Incident management- Priority 2 Support | $45 per hour of resolution time | |
Incident management- Priority 3 Support | $25 per hour of resolution time | |
Transition | Complete transition of payroll data to new provider | $800 |
As per the terms of the payment, client is liable to complete the total implementation phase fee, both deployment and training and documentation fee items of $2600, on the day of the commencement of the implementation phase.
During the in-service phase invoice with pending payments, as per the fee items listed above, will be communicated 5 business days before end of a monthly billing cycle and must be paid in full by the start of the new billing cycle.
Applicable Law
This Services Agreement shall be subject to the laws in the Australian Trade and Investment Commission, Australian Government for Victorian small Business.
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