What Is Payroll?
In a business, payroll is the sum of all financial records of salaries, bonuses and deductions for an employee. In accounting, payroll is the amount paid to employees for services they provided during a certain period of time. From a business perspective, payroll is a key area as employees are reactive to payroll errors and issues. Employee morale is dependant on payroll being paid in a timely and accurate fashion. From an accounting perspective, payroll is critical because payroll and payroll taxes affect net income and are subject to strict laws and regulations.
Outsourcing Your Payroll With Our Payroll Services
Want to ensure that your payroll is accurate and all reporting requirements are met on time? We provide a full payroll services for your employees and CIS subcontractors. We will calculate and provide you with wage slips, P60s, P14s, P11Ds and P35s. We will prepare all your statutory reports and file them with HMRC subject to your approval. These can be prepared on a weekly or monthly basis.
Moneysoft Payroll Manager
We use Moneysoft Payroll Manager which is an award winning payroll software package used by thousands of small /medium businesses, and CIS Contractors across the UK. In the tax year 2010-2011 more than half a million UK employees had their wages accurately calculated, their payslips printed and their end-of-year figures filed online to HMRC using Payroll Manager software.
Full accreditation to the HMRC Payroll Standard scheme ensures that payroll is calculated accurately and efficiently. The payroll software is also fully recognised by HMRC for online filing, so you can submit End-Of-Year returns (P35, P14) and ‘In-Year’ returns such as P45, P46 and P11D Expenses & Benefits returns via the internet.
Payroll Manager has a great range of features such as:
- Employee Payslips in a variety of formats, either on plain paper, pre-printed forms or as PDF documents
- Automatic calculation of Statutory Sick (SSP)
- Maternity (SMP), Paternity (OSPP, ASPP) and Adoption (SAP) pay
- Online filing to HMRC of all returns, Student Loans, Attachments of Earnings, Childcare Vouchers, Comprehensive reporting, Data backup facilities
- Many other features that can be seen on the Moneysoft website.