Wood & Stone Pvt. Ltd. Payroll Management System
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Services Agreement – Payroll Wood & Stone Pvt. Ltd.LEGAL AGREEMENT- Payroll Management System 21st May, 2019 Submitted By:Vincen Mathai A-s4597312Soshini Amarasinghe – s4587540Amanpreet Kaur -s4584570Services Agreement – Payroll Management SystemsService Agreement dated: 21 May 2019BetweenWood & Stone Pvt. Ltd.AndTrackIT Consulting Ltd. BackgroundContractor: 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.GlossaryPAYGPay 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 liabilityATOAustralian Taxation OfficeChart of AccountsA list of the the accounts with details that a company has identified for recording financial transactions in its general ledger.Incident managementA 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 DayA typical working weekday, excluding National HolidaysCause 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 AgreementThe 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 ObligationsTechnology FeaturesSuperannuation paymentsDirect or scheduled pay deposit to AccountsTax management meeting PAYG RequirementsStandard Business Reporting forms to meet ATO ComplianceTime and attendance with leave trackingPayslips generation with ability to print and email Benefits management for medical insuranceCustom reporting and analytics Complete access to Chart of AccountsCompatibility with multiple devices, such as PC and mobileRegular Updates on the cloudSelf-service portalAdditional ServicesThree Tier Customer Online Support Incident management priority 1: Ticket resolution in 4 business hoursIncident management priority 2: Ticket resolution in 1 business dayIncident management Priority 3: Ticket resolution in 3 business days On-site training during implementation for Melbourne location Fees and Payment TermsPhaseFee itemsPriceImplementation Deployment$2000Training & Documentation$600In-Service Unlimited Access for 3 users $40 per month per userLimited Access for users$15 per month per userIncident management- Priority 1 Support$80 per hour of resolution timeIncident management- Priority 2 Support$45 per hour of resolution timeIncident management- Priority 3 Support$25 per hour of resolution timeTransition Complete transition of payroll data to new provider$800As 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 LawThis Services Agreement shall be subject to the laws in the Australian Trade and Investment Commission, Australian Government for Victorian small Business.