One of the most frequent questions we are asked is: How do Payroll Bureaus offering Managed Payroll Services really benefit businesses?
Employers of every size are obliged to identify, calculate and submit payroll taxes to Revenue through their payroll process. Staying up to date with the changes affecting payroll places a burden on businesses regardless of their size or situation. It’s important to make the right decision on how best to cope with payroll calculations, employee payments and Revenue submissions.
The first step in the process is deciding what pay and benefits to offer in order to attract the most suitable staff while keeping an eye on the bottom line. Payroll is usually one of the largest expenses for any business so needs to be managed effectively and efficiently. That’s where the experts at Paycheck Plus can help. Their fully accredited and experienced Payroll Team will assist you in ensuring your payroll is structured to operate for maximum efficiency. The Team will talk you through the various options and explain the implications of each, helping you arrive at the most suitable structure to suit your business while ensuring maximum tax efficiencies for both the company and your employees.
Payroll calculations are a repetitive and time consuming back-office task. But nonetheless, it is imperative that each payroll calculation is correct. A poorly managed payroll can have costly consequences for the business and damage the goodwill and motivation of employees. An efficiently managed payroll service will save time and money for the business and meet the stringent requirements of audits by Revenue, Social Welfare and NERA, the National Employment Rights Authority.
Many companies believe that a managed payroll service is suitable only for the medium or large sized business. While those companies certainly benefit from a managed payroll service, smaller businesses will benefit significantly too. Size does not determine the numerous obligations on employers and ignorance is certainly no excuse when Revenue comes to call. A managed payroll service from a reputable payroll bureau such as Paycheck Plus will ensure that your payroll is structured and calculated compliantly, transparently and correctly.
As part of the Managed payroll service, Paycheck Plus also ensures your employees are paid on time, regardless of location or currency involved. They provide a simple solution enabling you manage payroll payments to your employees by making just one payment. They also take care of payments to Revenue and other third parties such as your private health insurance company, credit union, social club or pension provider.
Revenue submissions such as monthly P60s and year end returns are completed on your behalf while bespoke reports can be generated to suit your specific accounting requirements. The team at Paycheck Plus include qualified and experienced payroll trainers who can provide training to your team in-house, or offer one-to-one consultation or workshops to address the needs of your employees. Their telephone support line ensures a solution for both your Finance or HR Management and an advisory helpline for your employees saving you time answering those payroll queries and questions.
For more details of our Fully Managed Payroll Service, contact Anne or Niamh today or call us on 01 9059400.