Should I outsource my payroll?

21st August 2018 Nicky Cole
Should I outsource my payroll?

One of the biggest benefits of outsourcing payroll is time… running a company payroll, no matter how small, is a critical business task and can be a very time-consuming one, even more so now with pension auto-enrolment being enforced, not to mention the ever-present possibility of technological headaches!

The introduction of pension auto-enrolment has brought a new level to the regular payroll for businesses, with continual fluctuation of eligibility among staff, it can add an inordinate amount of time to what is already a complex and time-consuming task.

Handing your payroll over to the professionals can often ensure a far more efficient, timesaving procedure, allowing employees and staff to focus on other areas of business operations.

You may question whether your business is large enough to warrant outsourcing, however it is wise to weigh up the potential benefits to your business in doing so;

Mad About Bookkeeping look after many payrolls for varying businesses, ranging from single Directors Salaries, through to 50+ staff and we use dedicated payroll software to help manage this, which is continuously updated to meet current legislations. We’re also familiar with a cross section of pension providers and often manage auto-enrolment setup for our clients.

Another important benefit to consider is business continuity; you don’t have to worry about your Payroll Manager being on holiday when your payroll is due to be run, or the one member of staff who knows how to run your payroll leaving the company and taking their knowledge with them!  With Mad About Bookkeeping, you can be assured of absolute confidentiality of data and you will always have someone on hand to answer queries and run your payroll, as and when you need us.

And finally, the financial implications; consider the time you could save from outsourcing, added to what you could spend on bringing a dedicated payroll clerk in-house, plus the cost of stationery for payslips and postage; you could be looking at minimal monthly outlay, for peace of mind and valuable time saved.

If you would like further information, or would like us to quote for taking on your payroll, please just let us know.

 

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