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Why payroll is important to your practice

6th Sep 2021
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As we come together to celebrate National Payroll Week, let's take a closer look at why payroll matters to you and your practice. 

Payroll is one of the most important and expensive aspects of running a successful business. As the saying goes, “a happy workforce is a productive workforce”. The importance of making sure employees receive the correct earnings - on time - can never be underestimated. 

Tackling payroll’s complexities

From an HMRC perspective, payroll can be a complicated and time consuming subject. With new and evolving rules, tax code updates and more, it can sometimes seem like an impossible task keeping on top of things and making sure you’re compliant. Add to that pensions, ensuring everyone has the correct postponement rules applied and the correct deductions made, and payroll can be a total minefield!

This is why it's important to have the right software in place to help you run your clients’ payroll. Something that not only covers all aspects of payroll but understands it as well. 

As we all know, the lines between HR and payroll can often blur, so why not have a software that incorporates some extra functionalities such as timesheets and leave, making your payroll a smoother experience? At KeyPay we pride ourselves in offering this flexibility and functionality, and alongside a library of support articles, live support is available at the touch of a button. 

Drive value and profit with payroll services

Practices that have joined KeyPay have gone on to grow their payroll clientele, because they can provide better services and functionality, enabling them to maintain good relationships with existing clients, as well as attract new business.

As we reflect upon the importance of payroll, and for one week of the year give it the recognition it most certainly deserves, perhaps it’s time to also reflect on your perception of payroll.

Is it time to expand your services?

Do you offer payroll as a service already, or have you been avoiding it? Accountants often avoid payroll, or perceive it as a “loss-leading” service. It may be time to revise your service offering, and open your mind to the value-add benefits of payroll as a service. Using the right technology, you won’t have to spend hours on compliance - payroll can be automated. You can also find tech to not only optimise your processes, but save time for your clients too. With a payroll software like KeyPay, there is also opportunity to embrace technology to enhance client reporting and advise on business costs.

Have you got the right technology in place?

You might already be providing payroll as a service, but is your technology helping you work in the most efficient manner? If your answer is yes to any of the below questions, it might be time for you to re-evaluate your software:

  1. Are you often using Excel or doing manual payroll calculations?
  2. Do you have to remind yourself to run payroll tasks or admin?
  3. Are you often chasing clients’ employees for their timesheets or answering employee requests on payslips or payroll data?
  4. Do you have to input data into payroll?
  5. Do you have to export payroll data to input into your accounting system?

This National Payroll Week, we want to give you the opportunity to understand the value KeyPay can bring to your practice, and your clients. For this week only, we’re offering you 90 days of KeyPay, free!

Just sign up for a free trial, and enter promo code NPW21 upon adding your first business to the platform. This will be valid until 10 September, so act quick!

Happy National Payroll Week!