I use Doc-safe and have for 7 years. Got 200 clients using it to store and approve information. Excellent product and never had an issue. Payroll clients like it as quite often they need to revisit some of the documents. All documents are either converted to PDF or scanned to PDF. I found PDF to be the accepted future proof format and also the combining package function is very good for schedules.
The most expensive corporate version is £100 per month.
Without question it is by far the best thing I have ever done.
I initially started with my payroll system to see how things went. After one year (2001) I then rolled it out to accounts, tax etc. The main benefit is not only is it quick but you never lose or mislay a file. Clients love it and after reviewing their accounts on the online portal I then show them what we keep for them. Every time they are impressed. Not only that when they "mislay" something like a lease agreement I can have it to them while they are still on the phone. Also your stationery and postage costs will plummet and you office will be tidy.
My paper files were put offsite in to storage and after 7 or so years 90% of them were shredded offsite. Backups are nightly onsite and offsite weekly via the cloud.
If you PDF your schedules then as you say "flick through" adobe can search the whole document in less than a second and identify your search criteria. Don't back scan unless it is an important "permanent" file. It's expensive and time consuming and I didn't do it for my 300 clients and not once did I regret it.
Not your money Clients monies are clients monies, not yours. A fiduciary account should be operated for all clients monies. You are only authorised to draw on these funds once you have signed authority or you have drawn the monies against outstanding fees per you engagement letter.
Fees - I operate a 14 day payment policy with my terms are stated on the fee note along with the date I expect the fee to be paid. A statement is sent 7 days after the invoice just incase the fee note has been missed. Clients generaly pay me within 1 month.
P35 If you are registered for PAYE you need to submit a P35. I have encountered this and without question there is no excuse (HMRC). If you can get HMRC to reverse their fine then I take my hat off to you!
Good luck.
To me your fees are are slightly on the lowside for the bookkeeping/VAT work. As this is a cash business you will have to spend a bit of time controlling the cash in order to avoid any later issues. I would also consider selling them Fee Protection Insurance as after quoting a low fee you may get dragged in to an enquiry and if they are fee sensitive you will probably lose the client along with your time.
Regarding the payroll. I agree with "Moonbeam" try and push them towords a monthly payroll. If they insist on paying the 2 staff weekly give them a ready reckoner and catch it as an advance once a month. Also make is easier for yourself and put the directors on to an annual salary split over the twelve months. They wont be interest in a monthly payslip - RTI may change this !
My answers
I also use Iris but are now becoming aware that Iris is dated and the Practice Manager is not fit for purpose.
Moving to QBO Bureau for payroll and considering JetPack Workflow or Accountancy Manager for PM.
I use Doc-safe and have for 7 years. Got 200 clients using it to store and approve information. Excellent product and never had an issue. Payroll clients like it as quite often they need to revisit some of the documents. All documents are either converted to PDF or scanned to PDF. I found PDF to be the accepted future proof format and also the combining package function is very good for schedules.
The most expensive corporate version is £100 per month.
Paperless
I have been fully paperless since 2002.
Without question it is by far the best thing I have ever done.
I initially started with my payroll system to see how things went. After one year (2001) I then rolled it out to accounts, tax etc. The main benefit is not only is it quick but you never lose or mislay a file. Clients love it and after reviewing their accounts on the online portal I then show them what we keep for them. Every time they are impressed. Not only that when they "mislay" something like a lease agreement I can have it to them while they are still on the phone. Also your stationery and postage costs will plummet and you office will be tidy.
My paper files were put offsite in to storage and after 7 or so years 90% of them were shredded offsite. Backups are nightly onsite and offsite weekly via the cloud.
If you PDF your schedules then as you say "flick through" adobe can search the whole document in less than a second and identify your search criteria. Don't back scan unless it is an important "permanent" file. It's expensive and time consuming and I didn't do it for my 300 clients and not once did I regret it.
Not your money
Clients monies are clients monies, not yours. A fiduciary account should be operated for all clients monies. You are only authorised to draw on these funds once you have signed authority or you have drawn the monies against outstanding fees per you engagement letter.
Fees - I operate a 14 day payment policy with my terms are stated on the fee note along with the date I expect the fee to be paid. A statement is sent 7 days after the invoice just incase the fee note has been missed. Clients generaly pay me within 1 month.
P35
If you are registered for PAYE you need to submit a P35. I have encountered this and without question there is no excuse (HMRC). If you can get HMRC to reverse their fine then I take my hat off to you!
Good luck.
Exposure
To me your fees are are slightly on the lowside for the bookkeeping/VAT work. As this is a cash business you will have to spend a bit of time controlling the cash in order to avoid any later issues. I would also consider selling them Fee Protection Insurance as after quoting a low fee you may get dragged in to an enquiry and if they are fee sensitive you will probably lose the client along with your time.
Regarding the payroll. I agree with "Moonbeam" try and push them towords a monthly payroll. If they insist on paying the 2 staff weekly give them a ready reckoner and catch it as an advance once a month. Also make is easier for yourself and put the directors on to an annual salary split over the twelve months. They wont be interest in a monthly payslip - RTI may change this !