I currently use Moneysoft paye which I find very easy to set up and use. However with Auto Enrolment heading our way for most of us that complete payrolls for our clients Moneysoft does have its drawbacks and they do not have any plans for a better a fuller integration of Auto Enrolment. Without costing a fortune does anyone use a payroll that is as user friendly as Moneysoft but has a better future with possible cloud. I complete 7 weekly and 46 monthly payrolls of which one has 35 employees.
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Data Protection
I have no reason to to suspect that there's a problem with any particular third party, but accountants, employers and payroll bureau using third party services such as the above should ensure that the third party that they are considering using is properly registered with the data protection registrar.
A search (by name or postcode) can be made on the following page:
http://ico.org.uk/ESDWebPages/Search?EC=3&fieldpostcode=TQ12%208QA
Am I missing something??
We currently use Sage and will be moving away from them to Moneysoft wef April 15.
We are offering all our clients a full AE service if they wish including all comms to employees.
We have decided that if the client does wish to use our services then we will only be using Now:Pensions.
Moneysoft offer basic AE which includes assessments each month, reports and downloads into Now:Pensions etc at no extra cost (With Sage you cannot even do the assessments without the expensive AE add-on)
Then Now:Pensions do all the comms for you at no cost (We have had a meeting with them)
Why use a third party?
Or am I really missing something glaringly obvious?
Now will only send comms to employees who are auto enrolled please see extract from Now
we will send out all of the statutory communications (e.g. postponement and enrolment letters) and all of the pension communications once someone has become a member. The only communications we don’t do are the pre-Staging communications.These are the most important.
All communications have to stored in the original format which Moneysoft cannot do.
You are not offering your clients an AE service if you are only using NOW,Money soft will work with NEST and Peoples Pension you need to offer your clients a choice all of them send out comms to new joiner
You will need to change your PI insurance to cover the administration duties that you will perform.
Third party software is normally billed directly to the client
Offering a full AE service to clients is fine but audit trails and monitoring contributions against the regulatory minima are duties that need to be handled by software.
Things will change by 2015 more products will come to market and hopefully make the payroll professionals lives easier.
Unsubstantiated Claims by IFAs
AWeb seems to have a problem with IFAs who are short of work posting big scare stories and unsubstantiated claims about AE in the hope of gaining more work.
Xtraman88 - Do you have anything to support your claims that "You are not offering your clients an AE service if you are only using NOW" and "You will need to change your PI insurance to cover the administration duties that you will perform"?
Factual
AWeb seems to have a problem with IFAs who are short of work posting big scare stories and unsubstantiated claims about AE in the hope of gaining more work. Xtraman88 - Do you have anything to support your claims that "You are not offering your clients an AE service if you are only using NOW" and "You will need to change your PI insurance to cover the administration duties that you will perform"?
My post about PI insurance is factual The ICB & ICAEW compliance departments are looking at what cover their members will need to carry out any administration,and below is a link to Hiscox PI for ICA/ACCA Members its not a scare tactic, it was brought up at meeting I attended and I wanted to share it with the accountancy world.
http://www.hiscox.co.uk/shared-documents/Professional-Indemnity-Insuranc...
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Single Pension
AWeb seems to have a problem with IFAs who are short of work posting big scare stories and unsubstantiated claims about AE in the hope of gaining more work. Xtraman88 - Do you have anything to support your claims that "You are not offering your clients an AE service if you are only using NOW" and "You will need to change your PI insurance to cover the administration duties that you will perform"?My post about PI insurance is factual The ICB & ICAEW compliance departments are looking at what cover their members will need to carry out any administration,and below is a link to Hiscox PI for ICA/ACCA Members its not a scare tactic, it was brought up at meeting I attended and I wanted to share it with the accountancy world.
http://www.hiscox.co.uk/shared-documents/Professional-Indemnity-Insuranc...
Page 2 Item 3
How about the question regarding only offering Now:Pensions being a problem? Are you saying we cannot do this?
Evidence needs to be relevant or it is not really evidence.
AWeb seems to have a problem with IFAs who are short of work posting big scare stories and unsubstantiated claims about AE in the hope of gaining more work. Xtraman88 - Do you have anything to support your claims that "You are not offering your clients an AE service if you are only using NOW" and "You will need to change your PI insurance to cover the administration duties that you will perform"?My post about PI insurance is factual The ICB & ICAEW compliance departments are looking at what cover their members will need to carry out any administration,and below is a link to Hiscox PI for ICA/ACCA Members its not a scare tactic, it was brought up at meeting I attended and I wanted to share it with the accountancy world.
http://www.hiscox.co.uk/shared-documents/Professional-Indemnity-Insuranc...
Page 2 Item 3
This argument is debunked here https://www.accountingweb.co.uk/anyanswers/question/desparate-ifas-and-a...
Why?
You are not offering your clients an AE service if you are only using NOW,
Many thanks for your reply.
Why can we not only offer Now:Pensions?
We will advise the clients that this is who we have chosen to go with and then they have to make the decision as to whether to use our services or do it themselves. Why do we have to offer Peoples and Nest too? And on that basis shouldn't we be saying we will process AE for you and you can choose any pension company you like?
Pity the poor IFAs
You are not offering your clients an AE service if you are only using NOW,
Many thanks for your reply.
Why can we not only offer Now:Pensions?
We will advise the clients that this is who we have chosen to go with and then they have to make the decision as to whether to use our services or do it themselves. Why do we have to offer Peoples and Nest too? And on that basis shouldn't we be saying we will process AE for you and you can choose any pension company you like?
Because if we all did that, how would xtraman88 make a living?