Top four reasons why you should outsource your payroll
Payroll is such an important part of your business; paying your employees accurately is absolutely vital. The trouble is, if you are running a business, that's exactly what you want to concentrate on, not the day to day necessities of your financial obligations. Here are our top four reasons why you should hand over your payroll to outsourced payroll providers such as eSlip Payroll Services.
1. It frees you up
Calculating payroll is laborious. There are Income Tax and National Insurance contributions to be calculated, BACS files to be populated, payslips to be created, and payments to be made to the Inland Revenue along with other third parties. Does anybody in your organisation have the time to dedicate to all of this, or would you rather free yourself and your team up to concentrate on driving the business forward? Consider outsourcing your payroll to eSlip Payroll Services as one of the best payroll companies.
2. Ensure accuracy
Could you really afford to pay an employee incorrectly? What if you overpaid them - how would you recover the money? Every mistake you make in payroll can be costly, and even if you underpay or manage to recoup any overpayment, you have damaged your relationship with an employee. This can be costly when it comes to staff morale. If you employ eSlip Payroll Services, you will be working with a team of experts with procedures behind them to ensure that mistakes do not happen. Plus, if something should go wrong for whatever reason, we will be right at your side helping to put it right.
Tax and National Insurance legislation can be very complicated. Unfortunately, misunderstanding one piece of legislation could lead to you paying incorrect amounts of Income Tax or National Insurance over to the Inland Revenue, which could lead to a huge bill if discovered. Here at eSlip Payroll Services, we have a team of experts able to translate those cumbersome tax guides into plain English and apply them accurately. This offers you protection against nasty surprises should you be selected for an inspection from the Inland Revenue.
4. Accurate reporting
Even if you find you can fit in the time to process a payroll and handle all of the payments to employees and third parties, could you realistically produce accurate reports detailing all payroll expenditure too? eSlip Payroll Services produce a host of reports so that you can see exactly where your money is going every month. From copies of individual payslips to company or departmental wide analysis of payments and deductions, we really have you covered. We will even complete your RTI report for the Inland Revenue every month.
eSlip Payroll Solutions really are one of the best payroll solutions for small businesses. Call us for a friendly chat and quotation on 01279 851 000 or take a look at our website at www.eslippayrollservices.co.uk.