Payroll can be a complicated, time consuming and a costly function within a business. The payroll environment is constantly changing with the taxation system and employment legislation making it one of the most challenging functions in a business.
Many firms underestimate the true cost of processing payroll by failing to account for the hours spent and resources allocated to pay employees and maintain payroll records, software and IT costs, office costs and labour costs.
A recent survey on outsourcing stated that the main reasons for outsourcing are to:
- Reduce costs
- Enhance process efficiency and quality
- Relieve internal resources to concentrate on core functions of the business
- Keep up to date with the very latest changes in tax and employment legislation
- Gain reassurance that confidential payroll data is in safe hands
Benefits of Outsourcing Payroll
The main benefits for outsourcing payroll fall under the following:
Fixed cost structure that helps with your budgeting. No payroll software, maintenance charges or stationaery requirements, holiday, sickness or maternity cover to organise.
Sensitive payroll information remains confidential and secure along with compliance with Data Protection legislation and payroll data maintained under strict security controls.
You will have access to advice in relation to BIK, pensions, redundancy and termination payments and all other payroll matters, along with access to a team of payroll and tax professionals for specialist tax advice. Compliance with taxation, employment and legal requirements, Revenue, data protection and anti money laundering legislation.
Efficiency and Quality
You will have access to an accurate, efficient and compliant service which is consistent, reliable and hassle free. Our service will significantly reduce the risk of over or under payment, fraud, interest, penalties and expensive litigation costs. Control systems to monitor payroll for inaccuracies and discrepancies along with access to tailored payroll reports and analysis.
Why Choose Baker Tilly?
We offer a high quality and cost-effective payroll service that integrates seamlessly with your organisation. We can help you stay compliant, pay your employees on time and meet your Revenue obligations.
Our advanced payroll system means we can sustain the most competitive accuracy levels for your payroll and easily adapt to any changes in your business. Leaving you to focus on the core activities that add real value to your business.
With Baker Tilly, you know your employees will be paid on time it is, straight forward, economical and a reliable service that provides complete peace of mind for you and your employees.
Fully Managed Payroll Services
Baker Tilly’s fully managed payroll service requires the employer to provide the payroll data on an agreed spread sheet.
We will provide the following services:
- Seamless set up of the payroll data on our payroll system
- Preparation of weekly, fortnightly, bi-monthly, 4 weekly, monthly and quarterly payment frequencies
- Calculation of PAYE, PRSI, USC, pensions and other deductions
- Calculations of BIK on benefits
- Calculation of annual leave and bank holiday entitlements
- Password protected e-mail payslips for employees
- EFT payments to employee bank accounts
- Preparation and administration of P45’s and leaving pack
- Completion of P30, P60 and P35 using Revenue online service
- Dedicated technical support to assist with employee pay and tax queries
- Updates on budget and payroll changes
- Maternity and sick leave payroll cover
- Executive payroll service