Managing your payroll correctly is essential to keep your business morale high. Staff always want to be paid the correct amount on time. If you fail to do this and continue to complete payroll manually, it could lead to problems.
Roger Hatherall & Co can help all businesses manage their finances correctly so that there are no errors in payroll.
Payroll becomes easier and easier to manage all the time, but only when you have the right software available. These systems will update on a regular basis, allowing you to have new features and modern software available at all times to make your payments.
This can also give you several different ways to pay employees and make the entire payroll process extremely easy. With a software that is continuously updated, your business will never get left behind using old or manual methods which can often lead to errors and potential problems for your employees.
Recording Tax Payments
Whether this is for business purposes or just to help out your staff, recording tax payments and the amount of tax that needs to be paid is a big positive. Payroll software can correctly deduct tax contributions from your staff s pay, ensuring this is recorded for legal purposes and used when making your annual tax returns.
As you have recorded both tax and national insurance contributions throughout the tax year, it makes your payments much simpler. You should already have a good understanding of what payments need to be made for each employee, so this can simply be added to your business tax returns to prevent any mishaps.
As the payroll software will also record your employee tax returns, mistakes can always be cleared up quickly if the HMRC makes a query.
Accuracy & Time
For every business owner, spending time completing your business payroll can be frustrating. It must be done, but finding a simpler and faster way to complete this would be extremely beneficial. Payroll software is very easy to master and once you have the hang of it, it can significantly reduce the time you spend managing payroll and calculating all staff wages.
In addition to this, using specialist software will also minimise the chance of errors occurring. If you fail to ensure payroll is completely accurate, it could lead to a bad backlash at your workplace. Staff always expect to be paid accurately and on time. Whilst one minor mistake can often be forgiven, if this happens on a regular basis and becomes a major problem, there may be little room for manoeuvring.
Payroll software will always ensure accuracy and give you simple steps to pay staff on time, every time.