Outsourced Book Keeping Services are taking the hassle out of payroll processes for small to medium businesses.
In January 2019 Revenue introduced PAYE Modernisation implementing the real time submission of payroll. This was the biggest single change in the PAYE system since the 1960s and was muted to be vastly improved, more efficient and was to remove much of the obligation of administration placed on employers. Employers are now obliged to submit details of wages paid to employees on or before the payment date.
So almost 12 months down the line, how has this actually been reflected in the day to day management of the payroll process? For larger organisations there has been little change, other than the weekly obligation to file submissions. These organisations were carrying out processes anyway and if anything it has indeed reduced the workload.
Monthly P30s have been replaced by accepting the submissions made by the normal due date of the 14th of the following month and payments made depending on the payment schedule a business is on. P60s are gone and so is the P35 submission due in February.
Software houses have been busy keeping up with the changes, making the necessary changes to their software and rolling it out.
But what about smaller organisations, those small sole traders and director run companies who managed before by calculating wages manually or developed spreadsheets to calculate wages or ran a small payroll process to the best of their ability or had their accountant calculate their payroll and make submissions on their behalf?
Well if you are in that category then you don’t need to be told that it has been far from more efficient. It may be improved but it has, if anything, increased the administration process. Where before, if you got away with doing the dreaded wage calculation just before your return was due then that luxury, if it was one, is gone.
You may now be faced with the “Did you or Didn’t you” submission question. It’s probably turned into the weekly or monthly PITA and Yes correct or not who likes seeing the “Deemed” submission just because you checked on the 15th?
In reality it’s probably more hassle than its worth.
Even if your wages are the same week in or week out you now have this additional administrative burden or running payroll, the cost of software to run it or the additional accountant’s fee for doing this for you that you may not even be aware of yet.
Stuck with these new obligations? Its always worth considering the most efficient, cost effective and hassle free way of meeting them but whatever happens, don’t ignore them!
Outsourced Book Keeping Services offer an alternative hassle free method of processing your weekly, fortnightly or monthly payroll. Specifically targeted at small to medium businesses their automated processes ensure the accurate and timely processing of wages. Simply complete the online form to set up an employee or submit their weekly hours and the rest is completed for you, payslips emailed to employees and Revenue returns completed, No Hassle, No Stress, No Bother.
Whether its 1 or many employees the rate stays the same, €1.85 + VAT per employee per week, No set up Fee and no software required.
Why have the stress when someone else can have it for you?Tags: