A Complete Guide to Wage Audits with Subi

Wage audits have become a necessity for businesses looking to maintain payroll compliance and avoid the legal and financial risks associated with underpayment. With changing legislations and increasing enforcement of wage criminalisation laws, businesses must be proactive in ensuring accurate payroll processes.

Subi provides a seamless solution to wage auditing, helping businesses navigate compliance challenges while leveraging technology payroll solutions for accuracy and efficiency. This guide will take you through the essentials of wage audits and how Subi simplifies the process.

What is a Wage Audit?

A wage audit is a comprehensive review of payroll records to ensure employees are paid correctly and in accordance with employment laws. It helps businesses identify payroll discrepancies, prevent wage non-compliance, and safeguard against penalties.

Regular wage audits are crucial, particularly in industries with complex pay structures, such as hospitality, retail, and healthcare. Without consistent auditing, businesses risk non-compliance, financial penalties, and even criminal charges under new wage criminalisation laws.

Why Wage Audits Matter

• Legal Compliance – Ensuring compliance with payroll regulations and changing legislations prevents costly errors.
• Avoiding Wage Criminalisation Risks – With stricter laws in place, businesses that fail to pay employees correctly can face severe penalties.
• Financial Accuracy – Detecting payroll errors early can prevent overpayments or underpayments.
• Improved Employee Trust – Employees value accurate and fair pay, which enhances workplace satisfaction and retention

How to Conduct a Wage Audit with Subi

1. Automate Payroll Auditing

Manually auditing payroll data can be time-consuming and prone to errors. Subi’s automated payroll audit system streamlines the process by reviewing payroll records, identifying inconsistencies, and flagging potential compliance risks.

2. Ensure Correct Employee Classifications

Misclassifying employees can lead to underpayment claims. Subi helps businesses verify employment types, ensuring compliance with modern awards and agreements.

3. Verify Wage Rates and Allowances

Subi cross-checks employee wages with industry standards, ensuring businesses comply with minimum wage laws, penalty rates, and allowances.

4. Superannuation and Tax Compliance

Ensuring accurate superannuation payments and tax deductions is essential for compliance. Subi integrates with payroll systems to verifythat all contributions and deductions are correct.

5. Detect and Rectify Payroll Errors

Subi identifies discrepancies in payroll data and provides actionable insights to rectify them before they become legal issues.

6. Stay Ahead of Changing Legislations

Keeping up with evolving wage compliance laws can be challenging. Subi provides real-time updates, helping businesses stay compliant with the latest regulatory changes.

The Benefits of Using Subi for Wage Audits

• Efficiency –Automate payroll audits and reduce administrative workload
• Accuracy –Minimise human errors and ensure compliance with wage laws
• Risk Mitigation – Avoid fines, penalties, and reputationaldamage from non-compliance
• Seamless Integration – Connect with HR systems and payroll technology for real-time insights

Stay Compliant with Subi

Wage audits are no longer optional – they’re essential for business compliance. With Subi, businesses can streamline payroll audits, ensure wage compliance, and protect themselves from wage criminalisation risks.

If you need assistance, please reach out at hello@subi.au.