If you are running a small business and still paying an accountant or using basic software to handle payday then you’re livin’ in the past.
There are so many cloud payroll providers out there with varying ranges of cost and scope that there is sure to be one out there that suits your business. So in case you still need a little more convincing here’s a list of reasons you should stop what you’re doing and get your payroll on the cloud.
Your cloud payroll will be RTI compliant
Real Time Information reporting is just one of those things that you need to do to stay compliant with government regulations. Every time a pay period passes you must have reported to HMRC the earnings and wages paid out at your business. And if you pay weekly or bi-weekly then that can turn out to be a lot of extra work. A good cloud payroll solution will have RTI built in and automatically send the required information to HMRC.
You can access it anytime anywhere
That’s the beauty of the cloud. You don’t have to worry about having your computer, you can login in from any secure connection and access your information and make changes. Indeed a good cloud payroll service will have a mobile version, allowing you get work done on the move as well.
It will do the maths
You can forget about making the wrong NI deductions or contributions or using the online calculators. The right cloud payroll system will guide you through the process and then you won’t have to worry about owing a bunch of money in PAYE taxes.
You can cut out the paper
Stop sending out paper payslips right now! Nobody wants them. With cloud payroll you can make your payslips available to your staff electronically and save them the effort of recycling the paper (and you the effort of printing and sending them). Plus since they will have their payslips stored on the cloud your employees won’t be asking you for additional copies because they lost the paper ones.
You can give some responsibility to your employees
When you hire a new employee you need their personal information in order to begin payroll and sometimes this can drag on. With some advanced cloud payroll providers employees are allowed their own logins where they can input and update their own personal information; getting rid of more paperwork and putting the onus on them and not you.
Payroll and auto-enrolment go together like exercise and sore muscles — necessary, and then terrible and painful. But don’t worry because they are so closely linked that some cloud payroll providers will help you set up auto-enrolment too.
You can manage it yourself
The hours of a small business or startup is never just 9-5 — it’s round the clock. Unfortunately those regular hours are what payroll providers usually work. If you need to make some changes to your payroll and the only time you have to do it is at 1 am you’re out of luck. Being able to amend or change payroll information at anytime is a real benefit of cloud payroll. Plus we know you just like having control, that’s why you started this whole thing in the first place.
If you need a payroll solution for your small business we can help with that.