If the payroll process leaves you exhausted, frustrated and unable to complete other tasks on time, it’s important to streamline operations. There are many simple things you can do to eliminate stress and make running a business a whole lot easier. So here are 5 useful tips.
- Employee Self-Service
Why chase time sheets and bog yourself down with unnecessary work when you don’t have to? By using an employee self service portal, you can encourage employees to manage their own data. That’s right. Apps such as WorkZone for QuickBooks make it possible for employees to view payslips, apply for leave and change bank details. They can also clock in and out of shifts using their mobile phone meaning you don’t have to manually enter any extra data. Employers can then manage and approve the data before hours are calculated and added to the payroll system. It just makes sense.
- Automated Compliance
When it comes to payroll, compliance issues can be a real headache. There’s so much to think about from pension scheme enrolment to GDPR which is why it’s a good idea to seek out automated compliance technology. Apps such as KeyPay offer automated and fully compliant payroll processing and cloud-based services allowing for complete peace of mind.
- Go Paperless
With so much technology around these days, you really shouldn’t be recording employee time on paper and printing out paper cheques and pay stubs. Times have changed, so streamline the process with electric time tracking, direct deposit and pay online stubs. Not only will this cut costs and reduce the risk of lost paperwork including cheques, but payroll software also has the ability to:
- Work out payroll calculations and deductions quicker
- Generate accurate payslips
- Calculate bonuses, expenses, holiday pay and such like efficiently
- Send returns to HMRC and print P45 and P60 forms
- Automate certain tasks such as year-end reporting
- Create a Payroll Checklist
Whether you’re new to the role, have recently changed systems or have expanded and want to make sure you’ve got everything right, create a standard payroll process. Draw up a checklist of steps you need to complete and follow them until you feel confident. What’s more, if new systems are implemented, don’t hesitate to ask for full training. Technology around payroll, taxation and accounting is changing at a rapid rate and can be overwhelming. That’s why many businesses seek the assistance of professionals such as Accountants in Brentwood to help streamline the process without any hassle. And this leads nicely onto the final point.
- Outsource Your Payroll
If you’ve far too much to do on a daily basis as it is and are worried about messing up the payroll which is, by itself, a time-consuming task, outsourcing is a great idea. With payroll services in Brentwood readily available, you can enjoy efficient, compliant and experienced payroll management that doesn’t eat into your daily tasks. Leave the hard work to the professionals, knowing that they’ll meet all deadlines and tick all boxes correctly.
Getting your payroll under control is an important step for any company with employees. So take time to find the right payroll solution for you.