If you are the owner of a small business and have decided that you need help managing the payment of your staff, then perhaps you should consider the help of a payroll company?Many business owners are under the misapprehension that the services of a payroll company are only suitable for large business or corporations. But that is not true.
It is possible to find such a company with a division that is dedicated to small businesses and enterprises. They provide competitively priced payroll services which mean that the business of paying staff is taken care of from start to finish for you.As part of effective payroll services you will be offered the possibility of paying your staff by BACS. For people who are used to being paid by cheque, BACS will be a very welcome change and one that will be appreciated. Why? Because cheques take four to five working days to clear.
This means that given the time it takes for the funds to clear, plus the additional few days if it falls over a weekend or bank holiday that people have to wait longer for their pay. It also means an unnecessary trip to the bank when most people now chose to do their banking online.Introducing BACS as a payment system is just one of the perks that come with outsourcing the payment of employees. You can guarantee that tax and national insurance payments will be taken care of – no mean feat given that not everyone falls under the same tax bracket – and that any questions about tax or national insurance can be passed along to the company who is paying people for you.
Getting experienced help with the payment of employees doesn’t just save you time – though that is the most obvious benefit.It also makes you seem more professional in the eyes of your staff, takes a sometimes inflammatory subject out of your hands (no more question of a sub before payday) and gives you somewhere to go if you need advice on money matters.