Traditionally, the pay cheque is the description that employees give to their income, despite the fact that physical pay cheques are mostly obsolete. Funds are transferred electronically these days, often via the BACS system and no-one sees any real money at all in the transaction.
For the employer however, this is the end part of a procedure that is time consuming and has to follow strict protocols. For each member of staff the employer must work out how many hours they have worked, what holidays they have taken and any sickness leave they have had. There may be people on maternity leave or others who have worked overtime and you may have staff turnover with people leaving and starting. Tax and NI contributions also must be calculated for each member of staff. The worker sees the result of all these calculations on their wages or salary slip at the time of payment.
For small and medium sized business this can add up to a real drain on resources every month. This is why payroll companies can be such a help to these businesses. A payroll company will take on all the payroll services and ensure that all staff are paid accurately and on time and that all statutory obligations are met correctly.
Here at Moorepay, we concentrate on businesses that are at the smaller end of the market so have developed expertise in knowing what is needed by these companies and how to meet their requirements. With your payroll services outsourced, you can be confident that your payroll is in the hands of the experts and you can feel the load lifted off your shoulders.
Without the worries of payroll, your satisfaction in your business will be greater and you will have more time to work on the areas of core interest.