using-a-payroll-bureau

Using a payroll bureau

 28 Sep 2018

Outsourcing your payroll to some payroll bureau’s won't take care of all your payroll needs, you will still be required to take care of a number of tasks in-house in comparison to outsourcing your payroll to a fully managed service

In most cases that doesn’t represent a problem, but that is until Real Time Information starts to show up. Most employers are found with several obstacles and headaches over tasks they didn't anticipate, such tasks include:

  • Calculating employee overtime. 

  • Collecting and collating your payroll data.

  • Updating statutory payments. 

  • Holiday and sick pay.

  • Working out national insurance contributions. 

  • Working out pension payments. 

These all start affecting your company when it comes to time resources being wasted instead of using that time for more beneficial tasks for your company. When working with a payroll bureau, chances are that you will be responsible for all of the tasks mentioned before. In which case it means you or your chosen representative must be on top of everything, know exactly what they are doing, including being trained with all the up to date legislation and have the skills to carry out the required tasks. At this point, you can start seeing the consequences as time and resources are being wasted when dealing with this. 

Is there an alternative?

You could find a fully managed payroll service provider to take care of your payroll. By doing this, the tasks that are required from you and your employees to meet HMRC regulations on time will be very minimal as everything else will be taken care of for you. 

One of the main reasons why employers take the decision of not making the transition from payroll bureau to a fully managed service is because they have the wrong idea that it is going to be too expensive. However, most employers who have decided to make the change will confirm that in terms of costs it was completely worth it, and it comes with incredible advantages that clearly outweigh the costs significantly

If you have decided to start looking for a fully managed payroll service, it is essential to look for one that understands your business and provide the highest quality possible at fair fees.