Outsourced Payroll Services
o’donnell+co offers confidential, cost-effective outsourced payroll services that focus specifically on the needs of your company. Payroll is a vital part of every business. However, it is also time-consuming and requires considerable expertise. Furthermore, it is subject to a raft of legal and tax compliance requirements – requirements that are constantly changing. So, the ideal solution is to outsource payroll to a specialist payroll bureau team such as ours. With over 20 years of experience and a client list spanning several sectors, o’donnell+co Chartered Accountants provides fast, professional payroll services. Our services are adaptable to the needs of SMEs, start-ups, large enterprises and multinationals.
What Our Clients Say….
“I can genuinely recommend o’donnell+co chartered accountants for their payroll service. Bryan and his team are accommodating, courteous and helpful at all times and have helped with many difficult and complex situations….”
Flexible Payroll Services
We work with each of our clients to create flexible, bespoke payroll solutions. Our payroll service typically includes everything from the preparation of payrolls (weekly, fortnightly and monthly as required) to proactive advice and expertise on employee taxation and PAYE modernisation. In short, managed payroll solutions that work for you.
We provide a complete service whereby we:
- process the payroll on your behalf, based on data received from you e.g. if there are unusual/one-time payments in a particular pay period;
- process deductions such as pension and send the relevant reports to the Pension company;
- prepare the normal gross to net reports, company cost report, holiday pay reports and so on;
- create the bank file for payments (for some clients we have access to their bank and upload the payment file for either payment or client authorisation to pay);
- interact with Revenue and complete all necessary Revenue compliance on an ongoing basis; and
- email payslips to staff.
Errors in payroll processing can have far-reaching consequences and can negatively impact staff morale. Therefore, it is crucial to get it right. If you are deliberating over whether to outsource your payroll, you may find it helpful to view our handy pdf “6 Benefits of Outsourced Payroll“. It illustrates how outsourcing can contribute to your growth and success while giving you peace of mind.
Outsourcing payroll can free up valuable management time. Time that could be spent making sales, prospecting new clients, researching new products or services or simply focussing on your existing business.
Our clients report the following as being the chief benefits of payroll outsourcing:
- Compliance – this is particularly important now that the new payroll system (PAYE Modernisation) has come into effect;
- Cost – payroll services cost is, in fact, cheaper than employing a dedicated payroll operator;
- Convenience – time-saving and convenience factors allow you to focus on growing your business; and
- Confidentiality – external handling of the payroll process guarantees staff confidentiality.
Since January 2019, Revenue requires employers to report their employees’ PAYE tax and deductions with real time reporting (RTR). Real Time Reporting effectively means that reports must be submitted in each pay period prior to paying employees.
This new regime will also mean that employers report details of any employees leaving their employment when they submit their payroll to Revenue. Employees have full visibility of their payroll data submitted by their employer to Revenue in real time. Likewise, Revenue will have access to complete data on each employee in every payroll cycle. The entire payroll process and interaction with Revenue will be online with automatic reporting of all payrolls to Revenue.
Many small businesses are reluctant to consider payroll outsourcing because they fear that it will prove too expensive. However, this decision should be weighed against the time spent by an employee carrying out payroll processing duties. That time could be better spent developing other areas of the business to promote growth.
o’donnell+co has over 22 years’ experience of providing outsourced payroll services for small business. Our expertise gives us the edge when it comes to managing the complexities of the entire payroll process for our clients.
Outsourced payroll services cost a lot less than you would expect. When you weigh up the benefits accrued such as compliance, cost-effectiveness and convenience, outsourcing makes real financial sense. In fact, the payroll outsourcing cost per employee often works out cheaper, in the long-term, than employing a full-time member of staff to carry out business payroll duties.
The best way to find out if payroll outsourcing can benefit your company is to arrange a free (no-obligation) consultation with us. We would be delighted to give you a full overview of all our payroll processing services and their associated costs.