subject: The Importance Of Improving Your Payroll Administration [print this page] One of the most important functions within any business is payroll administration because if you pay your employees late, you risk destroying your relationship with them. This will always impact negatively on staff morale and your business.
Staff should be the most important element for any employer; without them you wouldn't have a business. Whilst you may have many clients who haven't paid outstanding invoices, the repercussions of this should never be passed on to your team.
Payroll administration is a burden to small companies. Businesses with fewer than 60 employees are often too small to justify the cost of employing their own HR department. In these cases the responsibility of payroll administration can fall on anyone, from the managing director to administrative assistant.
The salary of a payroll administrator ranges between 16,000 for an accounts administrator to 20,350 for an assistant accountant. This is extremely costly. The answer for those businesses that can't afford to employ a payroll administrator is to consider software that will do this instead.
You should look for business payroll software that is user-friendly. Choose a programme designed for people with no experience with PAYE because it will be easier to use. Choose payroll software from a company which has been established for a long time; this will give you access to experts who can answer queries and ensure you comply with relevant legislation. Make sure the company you choose offers support over the phone so you can get help as and when you need it.
Should you choose to follow this route, the payroll outsourcing company will store all financial information securely. This is a major benefit to small businesses because it means you won't have to store this information on your computer. If there was any security breach in your office, the financial details of your staff would be safe. This has proved popular with business previously responsible for administering the payroll for Directors, as staff would never have access to this information.
Delegating the responsibility for payroll administration to an external company of experts will free you or your team from the burden of doing it in-house and give you more time to work in the business, rather than on it.
by: Hannah McLaverty-Williamson
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