It’s National Payroll Week in the UK – an initiative organised by the Chartered Institute of Payroll Professionals (CIPP). It aims to demonstrate the importance of efficient payroll to the economy.
Payroll is crucial in business management and employee satisfaction. If payroll processes are locked down and run well, businesses will flourish.
If they’re not, payroll can be an administrative nightmare, shifting the focus away from what business owners love doing. Here’s how the right payroll software can help…
Let’s be honest, you didn’t start your business just so you could spend time on admin tasks and payroll problems. Every spare moment that you have in the office should be spent on driving your business offering forward.
You really don’t want to get employee wages wrong. It’s the type of reputation that spreads fast and could cause problems when a business is hiring new people. It doesn’t bode well for employee satisfaction, not to mention the fact that it will cause you a headache to clear up the mess.
To avoid this, ensure you stay on top of leave, timesheets and payslips. Ideally, everything needs to be in the same format and the same place. If they’re tracked in different spreadsheets and google docs, it’s easy for things to get missed.
Using an app like Xero Me gives the satisfaction of having all the important information in one place. Employees submit their own timesheets, check their pay and manage leave requests – all from their smartphones. Aside from it being good for your employees, it’s good for business, too.
The great thing is that it reduces the amount of administration that businesses need to do. All the information that you need is accounted for, and as such is going to be more accurate, with less chance of employees being under or overpaid. Make sure you are aware of any regional laws around minimum pay periods – if you’re in the dark about this, you might end up breaking a law that you weren’t aware of.
If you need further help or have questions on payroll or bookkeeping, we’d be happy to help. Perhaps we can help organise your accounts with a free month of Xero? Get in touch to organise a free of charge consultation. Drop us an email email@example.com or give us a call 01858 289189
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