Bill Accounting carries out extensive consultations with the company management and various departments to define the broad parameters for payroll management. Based on the input, we prepare a project report about how we plan to convert the payroll vision and priorities of your company to reality. After further consultation, Bill Accounting prepares a final plan to implement the payroll system.
Next, we carry out input gathering for payroll management from various departments. For example, the number of leave employees is given per month, defining late-coming and incorporating it into the payroll, defining out-of-station work and expenses, and so on. BestPayroll ensures that all relevant input is defined clearly.
For the payroll to run smoothly, claims made by individual staff need to be endorsed by their supervisors. This mechanism of input validation has to be incorporated into the payroll system. For this, several tasks are undertaken.
Here are a few of them for your understanding:
1. Making sure payroll software is compatible and synced to HMRC
2. Preparing Authorization and Approval matrix for payroll inputs.
3. Choosing the right software and creating appropriate payroll structure
4. Making sure all active staff is included, and inactive staff is excluded.
*Every company has its unique needs and BestPayroll is always ready to accommodate your needs through appropriate customization.
After payroll inputs are defined, gathered, and validated, they need to be fed into the payroll software for the actual payroll system to start functioning. Following tasks are undertaken at this stage:
1. Feeding data into Payroll software
2. Withholding of taxes and deductions
3. Reconciliation and verification
Employers need to have a clear picture of the expenses for a variety of reasons. The finance department, for example, has to make sure that the cash balance in the company’s account is sufficient to meet the payroll outlay. BestPayroll offers a reporting suite where all vital payroll information is available. In particular, following our reporting has the following advantages:
1. Reporting data is available on the cloud
2. Department-wise cost of employees
3. Location-wise cost of employees