When running a business, one of the most important tasks to consider is the payroll. Every business will have a form of payroll in place, regardless of how large or small the company. The work will involve keeping a full record of payments made to employees, ensuring that all records are completely accurate and up to date. This protects both the employee and the employer from the risk of misunderstandings, missed payments and potential legal issues, so it is an extremely important element of running any business.
One of the biggest challenges when it comes to payroll is the sheer amount of details and calculations that are involved. Matters such as bonuses, hours worked, overtime, holidays, sick days, maternity/paternity leave, tax and National Insurance all need to be taken into account and consistently recorded.
Payroll can be very time consuming, and when running a hospitality business such as a B&B, small hotel or guest house, it can be hard to find the time to handle matters such as payroll and bookkeeping while also handling all other essential day to day tasks. It is also very important that the financial records are completely accurate. For these reasons, it is advisable to use professional assistance.
If you need help with payroll for your small business, we can handle the work on your behalf as part of our accountancy service, handling matters such as monthly PAYE returns, p45 and p60 forms, and much more. We will make all necessary adjustments to account for the factors mentioned above, and all final calculations will be sent to you for your approval, ensuring you are always kept fully informed and up to date about the financial side of your business. We can also provide your staff with either email or paper payslips, depending on your preference. This is just one of the many services we offer as part of our dedication to hotel, guest house, marine and equestrian finance; if you would like to know more about how our team can help your small business to succeed, just get in touch.