Managing payroll can be a minefield for any company. You must ensure timely payments, adhere to the tax codes and contribute to all employee plans like a pension scheme. You can either ask your team members to dedicate their time to this non-core administrative burden or let the pros handle it.
Outsourcing your payroll needs can be a deal saver for most organisations. However, the only downside associated with this is you lose control over the payroll process. The only responsibilities you would have as a company would be providing all the necessary data to the organisation handling your payrolls.
If this is something you don’t want, you can opt for payroll bureau services, where you will partially outsource this process and conduct rest of it in-house. Thinking of giving it a try? Read on to explore everything you need to know about a bureau payroll service and the benefits for small businesses associated with it.
When you choose a payroll bureau, you will be outsourcing payroll while handling the remaining tasks on your own. In short, you’ll get control over it and still have the professionals to back you up.
Apart from saving your time and money, your team would be able to focus on core administrative operations by hiring payroll professionals. Under this service, you will gain control over the process while the experts will work on other things like providing payslips and processing payments. Several organisations offer both: payroll bureau solutions and a full-service package where all you need to do is provide employee sensitive data. Bureau payroll services can be a great option if you want to tackle most of the payroll responsibilities while still managing some of them.
Working behind a payroll bureau
In simpler terms, a bureau payroll company is an expert in outsourcing payroll services. However, these services are slightly different from the features offered by HR management software. The payroll bureau works only on payroll information. It handles everything from processing payments to providing paychecks to the employees and preparing accounting reports.
Here are some of the tasks handled by a bureau:
If you are a relatively large company with different departments and weekly and monthly employees, going for a bureau can be a great choice. A bureau speeds up the payment processing process by allowing employers to set different payment schedules. Meaning, you can set a weekly payment schedule for casual, temporary employees and a monthly payroll processing for full-time, permanent employees.
Preparing, printing and providing payslips and payroll reports can take a lot of time. But, if you work with a bureau, you can generate automated payslips and download the same for tax filing. You can also generate batch online payslips for multiple employee payment and multiple payrolls at the same time.
The bureau also manages an entire journal of payments and employees that can be imported to the company’s software for safekeeping. The journal can also be downloaded or printed. Moreover, you can also generate batch journals for different departments.
As stated above, bureaus allow you to outsource the process partially. In short, you would still be required to manage some of the processes independently. If you contact a bureau payroll service, here’s what you need to handle:
Unlike fully managed payroll services, you must collect all the necessary data for payrolls. This means gathering all employee information, account information, absentee count and the number of temporary and permanent employees.
This is another task you must handle on your own. You must keep a record including the number of hours an employee overtimes and the number of employees overtime in your organisation.
Apart from this, you would also have to set the number of sick leaves, holidays and other days you must pay the employees. In short, a bureau will only help you manage this data. It won’t help you collect and gather all the information.
If you are an organisation providing pension programmes to its employees, a bureau payroll service will help you handle it.
Whether your company is going through a financial crunch or you are a small company slowly trying to embrace the tech, bureau payroll services can be a great way to simplify the payroll calculations and still gain control over the same.
Small or medium-sized companies can leverage this cloud based, tech-savvy payroll software and manage their payroll processing without disrupting their budget. Staying up to date with all the legislation to ensure 100% compliance can also be quite time-consuming and challenging, especially if you don’t have dedicated SMEs or an HR professional working with you in the office. Payroll bureaus and their payroll software comes with several benefits. Here are some of them:
New legislations and deductions are constantly added by the government. And as a company, you must ensure that your payroll process is 100% compliant with all the rules and regulations. Maintaining compliance can be challenging, especially if you don’t have a team specifically hired for it. If you fail to assure compliance, your company could be subject to several penalties and fines. You can avoid such mishaps with an payroll bureau. The bureau will keep the process 100% compliant and access up-to-date information at no extra cost.
No more inaccurate paychecks! With bureau services, you can leave everything to the experts and their software, thus ensuring no space for errors. The bureau will maintain the accuracy and consistency of all records by ensuring correct processing and proper tax filing for all employees.
Factually, if you handle the payroll process independently, you would have to divert yourself for several days every month to ensure proper records with no errors. And, as the company grows, tit would be difficult to handle everything on your own, given you would have to manage different departments and temporary and permanent employees.
Here for all your payroll worries, we are the leading payroll bureau specialist, serving in Surrey and all over the UK. With over 30 years of experience, we offer timely services, cost-effective solutions, secure online payslips, secure reports, pensions auto-enrolment support and solutions for payroll, taxation, bookkeeping and accounting. Moreover, all our services are personalised and help you handle your payroll processes with ease. Reach out to us to get started.
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