Calculating and processing the payment of the total amount a company needs to pay to employees, taxes, and other benefits are all part of the Payroll process.
Payroll processing is a time-consuming activity, from mapping timesheets to preparing employee payslips, salary, bonuses and allowances, national insurance, pension contributions, and so forth.
Cloud Bookkeeping is one of the best outsourced payroll providers in UK. We provide cost-effective and scalable outsource payroll services for UK businesses and transform the payroll processing administration for your business.
We will assist you in setting up a payroll management system that is perfect for your organisation while ensuring compliance with the relevant authority.
With payroll processing done weekly, fortnightly, or monthly basis depending on company requirement, there is so much to be recorded while also maintaining past records.
Processing payroll is a tedious process whether performed manually or by use of a computer. Chances of error are relatively high if payroll is processed by fast-tracking without paying attention to details.
Payroll processing does not generally have a department of its own and is handled by the HR department, collaborating with the Finance department.
Payroll processing involves massive cost implications whether you are investing in the payroll system or hiring in-house resources, but the absence of either one will reduce overall payroll processing efficiency.
We set up a system according to your schedule, and then we prepare a calendar with relevant dates.
Important data and timesheets are shared through email or via cloud storage services like Dropbox or Google Drive.
Based on your inputs, we calculate gross pay, deductions, net pay, superannuation and so forth.
We process all employee payments through a batch file which is sent to the Bank for upload.
We review the activities at constant intervals, ask for your feedback and make revisions wherever required.