Introducing Payroll Ease for Accountants in Practice
Long-term effects of the lockdown 3.0, pressures of an impending IR35, and 100's of payslips to be processed - this payroll season tougher than you must have thought.
In lieu of all the resourcing & workload challenges of combatting payroll in 2021, here’s Payroll Ease, an initiative by QXAS to make payroll easy by delivering premium quality payroll outsourcing service. The motto is to provide a fully managed RTI-compliant service that brings peace of mind and profits.
With specialisation in payroll for 12 years and working with 400+ accounting firms, QXAS is offering a service that encompasses everything you want:
- Achieve 100% compliance with RTI & Auto-enrolment regulations.
- A Process designed to offer 24 hours’ turnaround time.
- 99.99% accuracy & timely delivery of services, giving your clients the best hassle-free payroll experience
The Story of NYC Chartered Accountants
Our client, nyc Business Mentors and Chartered Accountants steered clear of payroll altogether as they did not have the specialist knowledge and the licensed software to process payroll. Also, payroll being a time-intensive activity offered them limited profitability.
Liaising with QXAS allowed our client to delegate all their payroll responsibility to the most efficient payroll experts who not only processed payroll but also liaised with third-party agencies such as HMRC. The client not only earned more profits but also got the opportunity to diversify their practice without having to worry about RTI submission deadlines, keeping up with legislation & hiring specialist payroll staff.
Why Doing Payroll in-house is more Complex in 2021:
Complex Furlough Calculations
As per CJRS, the complex furlough calculations are inevitable. These calculations are the primary reason why payroll has become tougher and more time-taking. Accountants now have to take into consideration the percentage mentioned by the HMRC which is supposed to take care of by the government. This split of amount of salaries between the employer and the government is what makes payroll difficult and the lives of accountants even more difficult.
Shortage of Staff During the Rush Hour
Hiring temporary or permanent staff to cover your payroll work during the rush hour is not the ideal practice. The reason is that a new member will require training and time to adjust to the new organisation. How hiring now could risk the chances of furlough staff members later. Accounting firms are worried about hiring in the current volatile climate where the economy is still shaky and cashflow is still tight.
Instead of increasing the speed of processing payslips, it might increase the workload and affect your delivery timelines. And given the CJRS scheme, chances are that the employee contributions and NIC will burn a hole in your pocket as well.
Tight Cashflow Situation
The entire pandemic situation has made every business’ cashflow situation a little tricky. Your clients are suffering from cashflow problems and so is your accounting firm.
There is huge competition in the market and that makes it imperative for your firm to stand and invite more clients. So, offering only payroll services won’t help to fight the difficult cashflow situation, accountants also need to understand their clients and offer customised services to increase their revenues.
Less Capacity to Invite New Clients
No doubt, accountants wish to invite more clients, however, the big question is – Do they have enough team strength to take up the additional work?
Payroll is a resource-intensive task and the complex furlough calculations make it even more cumbersome. More clients mean more profits, but it also means more work requiring more team members.
We’ve Helped 400+ Accounting Firms Over 17 Years
With years of experience in payroll, QXAS delivers a service that allows you to achieve your business ambition. We eliminate the back-office costs associated with operating payroll in-house. Payroll outsourcing with QXAS saves you time, keeps you compliant, and ensures your payroll is accurate and on time. Here’s why you should choose us:
- Expert Payroll Professionals
- Liaison with HMRC & Pension Providers
- Auto-enrolment & RTI compliant
- Tailor-made Pricing
Because Payroll can be Profitable & Easy
From calculating furlough payments to keeping a track of the ever-evolving CJRS to liaising with HMRC, there’s a lot that accountants need to do this year. Payroll work this year has begun to feel like a time-taking, expensive, and resource-intensive drill.
However, one decision can change your payroll season. With our Payroll Ease initiative, we focus on bringing you the right payroll outsourcing plan for a hassle-free year-end and the peace of mind you deserve. For a free outsourcing consultation, reach out to our payroll experts at [email protected] or call +44-845-838-2452