A lot of small business setups don’t put their credits and debits at the top of their priorities. Keeping records isn’t a passion for an individual or group of individuals starting a business setup, neither is it their strong suit. They want to focus on the more important things that can bring success and profits to their business and therefore end up ignoring accounting and management reporting on the whole. Now this is one big mistake as carelessness in management reporting leads to accounting problems and this takes the business owners away from their real passion and away from what they should be doing.
Despite knowing the issues and the problems that ignoring important tasks like bookkeeping and payroll management would cause, small business owners have a lot of excuses when it comes to hiring a professional for help. They say a professional is way too expensive. Or perhaps they might have plans to hire someone but they haven’t found someone suitable for the business at hand. And a million other excuses!
Some business owners get around to buying software for payroll needs that will look into their record keeping and payroll management. However what they fail to understand is that the software might not address their particular needs at hand. And even with the best software, a person needs basic knowledge and time to manage the payroll efficiently and stay in line with all the regulations governing the setup. Software does not eliminate these problems.
Employees work for the ultimate purpose of getting paid. And when business owners have to pay them they should have accurate records of the payments they have made. In case an error is made in payroll management, the business owner might be financially responsible for it and might have to compensate the entire amount.Therefore rather than taking a risk, its better to have professional services that will administer the payroll for the business rather than employees doing the job in house or hiring a software that isn’t completely reliable.
The best solution to these issues is that business owners partner with business consultants that can help them manage their bookkeeping issues, payroll management and other management record keeping with accuracy and relevance. It is important that a company be hired that will provide business owners with modern and secure online payroll accounts which can be easily used to update, control and download all information related to payroll. A good professional service will ensure that it keeps track of holidays, expenses, and unpaid leave, along with other important things that an in house staff or a software might ignore.
We’re here to help you do just that. Let us know what you need done and we’ll manage your business finances just the way you want them managed.
For the managed Payroll service in Surrey, www.surreypay.com is offering a trial for just £1 a month. You can book an online demo for more information on how our Cloud Based Payroll Service works. With our easy to manage service you can not only mange your payroll but you will also get free HR templates and documents, RTI submitted, secure employer and employees online accounts, online payslip and full support with auto enrolment. You do not need to sign any contract or pay any set-up fee.