As the taxation rules in Ireland change annually, so does your payroll software, you’ll need to buy a licence each tax year. They’re reasonably cheap and a great investment if you have more than one person working in the business. The reason we say this is:
- they are simple and fast to use
- you can import your P2Cs easily from the revenue website
- they keep the business compliant by providing employees with payslips
- they provide the business with the tax information they need to file returns with the revenue
The above is the basic output, but there’s so much more to payroll systems that can benefit the business:
- using departments for cost breakdowns and reporting to be transferred in to your accounts system
- recording and managing holiday time, sick days etc
- reducing stationery usage by emailing payslips
- creating one payroll file to be uploaded to the bank for every pay date
All of these small things can make a big difference in time efficiency and cost savings. One example is a weekly company payroll of 30 people being reduced from 3 hours to 20 minutes, no envelopes or stationery required, all payslips emailed, one file uploaded to the bank account weekly & happy customers and employees!
Contact us here for further information on how your payroll system can work better for your business and how you can make it more efficient and cost effective.