Top 10 Payroll Tips
Clare Ulett recently joined Symatrix as Payroll Specialist. Here she shares her top 10 payroll tips:
- Choose a self-service software – employees are in control of updating their data. This will save lots of time and ensure any data changes are correct and employees have access to online payslips and can apply for annual leave etc….
- Keep employee records up to date – this will ensure payroll is processed in an accurate way
- Stay up to date with payroll legislation – legislation changes regularly so keeping up to date will help you understand the payroll process. You can get advice from HMRC or attend webinars and conferences to keep you in the know.
- Submit payroll information on time – if you are organised then payroll can be processed on time, stress free and nothing will be missed.
- Understand work place pensions – you have a duty under the pensions law to enrol certain employees in to a work place pension. You will find more information on pensions at https://www.adviseme.co.uk/pension/advisers or your payroll provider should be able to give you some advice.
- Security and Testing – a thorough security check should be carried out before choosing a payroll software to ensure all details are accurate, payroll is processed properly and that the system is efficient. Do your research.
- Keep payroll policies clear and simple – these should be kept simple, clear and easy to access should an employee wish to do so.
- Keep thorough records and reports – this will help keep on top of finances and must be kept in case HMRC wanted to investigate.
- Double check all data entry – mistakes happen, a thorough check or asking another person to check will illuminate mistakes. Check, check and check again!
- Invest in a payroll manager/administrator – if you have an in-house system, appoint a specialist as someone to save you time and focus purely on payroll and gathering all information needed for processing.
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