Why outsource your payroll?
As a business, there is often pressure on the time of all members of your team, so trying to find ways to minimise the time spent on daily administrative tasks to allow the team to focus on managing the business is essential.
Often, running the payroll for the business, be it weekly or other payrun frequencies can be time consuming, but it doesn’t need to be.
As a business we strive to help our clients improve the efficiency of their business and one way we do this is to manage the payroll for them. This has now been made more efficient when we adopted Paycircle as our payroll platform.
In selecting a payroll service the guide for employers is to ensure a payroll software is compliant and adheres to legislation. We have already done this for you and can not only run your payroll but also provide the expertise to ensure issues are minimal, thus saving you time and money.
Production of payroll should cover aspects to include NLW (National Living Wage)/Parental payment i.e. SMP etc/Contractual payments and itemised payslips to explain the breakdown of pay (Gross) and deductions from pay, as well as the continuation of ever changing requirements.
To assist with shared responsibility of payroll routines, the list set out below provides client and employer selected considerations:
- Employer designated person agrees – Annual calendar processing timetable comprising input deadline/salary payday and third party payments i.e. Pension
- employer designated person Access to view – Pre update payroll summaries for Gross to Net and Employer costs (download to CSV or Excel format)
- employer designated person Access to view – Ensure data accuracy of personal details and recording of different absence types
- employer designated person Access to view – Employee personal data and contractual pay rates – Benefits data accuracy and cleanse
- employer designated person access to view – Named contact to share and work through issues
- Employee has access to view payslip and form P60 (accumulate from start of service handover and build collection of documents for historical viewing purposes)
- Queries (employee specific re PAYE Tax Code / explanation of itemised entries on payslip)
- Options – request ‘what if’ calculations – (net to gross) or (gross to net)
- Form P45 (leavers)
- Annual Tax Year End P60s
- Payment of net pay salary and or third party amounts i.e. HMRC and or Attachment of earnings order – BACS or FP process method
- Payroll project (mergers or acquisitions)
Preparation and production of the payroll will depend on the service requirements of the Employer and will therefore initially be set as a straight forward basic ‘Gross to Net’ processing of employee contractual pay and includes recording of absence types and reasonable non-standard queries.
What it means to your business:
Moving your payroll function to Charterhouse will mean, as a minimum;
- We will agree upfront roles and responsibilities to ensure expectation
- We will handle the process and delivery of payroll and or pension
- We interpret and process rules in accordance with employer’s terms and conditions of employment and or client – specific calculations
- We produce and issue various standard or bespoke reports for accounting and HR purposes
- You will have online/portal payslips/P60s
- We provide a knowledge centre of expertise and qualified professionals
- Costs determined by the service you agree
- Our services are available to all-types of organisations
To speak to our team to discuss outsourcing your payroll and the benefits to your business please contact us.