The Basics of Outsourcing Your Payroll

payroll

If you like to micro-manage your company, you are probably learning that there just aren’t enough hours in the workday for you to accomplish all of your tasks. When you can find a reliable and trusted team to assist you with some of your business operations, you’ll have more time to work in your company the way that you intended when you first began. You can easily outsource some of the tasks in your company that are now handled by either you or a dedicated staff member. Consider outsourcing payroll for example. Can you trust a third party with the sensitive data that is the lifeblood of your company? If you partner with the right team of payroll professionals, the answer is a resounding yes. Let’s look at some of the basics that you should know as you think about outsourcing payroll duties to an outside party.

What does payroll outsourcing include?

First and foremost, you will need payslips prepared for your employees. Ask about RTI submissions, auto enrolment reporting, and BACS management. Do you need reports that are tailored specifically for your stakeholders? Then an outsource payroll specialist will be the ideal solution for your needs. The experts at www.berkeleyhamilton.co.uk suggest that you visit websites that inform you about payroll outsourcing so that you can build a basic understanding of the programmes available before you begin the selection process.

The exchange of information

Another important aspect of outsourcing payroll is the transfer of information between your company and the payroll company. Do they have secure measures in place to protect your data? Are you familiar with the format that they want to use to exchange this information? You should enquire about the vetting of staff members at the payroll company so that you will be confident in their ability to work with your data confidentially. Being able to trust your team of payroll experts is paramount to the satisfaction that you’ll have with outsourcing your payroll duties.

Communication is Key to Success

If you want the payroll outsourcing experience to be successful you must have effective communications with the payroll team from the outset of your relationship. Let them know of all terminations, new hires, and changes in the pay scale that you are currently using. If you begin to encounter problems, ask immediately for their help so that the problem can be fixed as soon as possible. Let them know when you want the payslips to be delivered and what method to use. Will you need year-end overviews of your company financial status to be prepared? If so, inform the payroll specialists as soon as you decide you want them to do this for you. Ask how you can help them and always seek their advice and guidance when you are making changes to your payroll information.

In order for everything to run smoothly you must have all of your documentation organised and easily accessible so that you meet deadlines on time every time. Ask to use the same person in the company for your payroll needs so that you can work without having to establish baseline information each time.

 

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