If You are London Bookkeepers, Payroll can take up a Lot of Time
When anyone starts a business – of any description – it is a step into the unknown. That individual, or perhaps two or three individuals, will have learned certain skills, very often working in another business as an employee and thinking that they could do the same job better, faster, more profitably, at less cost to customers, or whatever, which is why they will decide to hand in their notice and start out on their own. Others may have trained at university or college with the intention of setting up their own business from the outset once they have acquired the necessary qualifications.
Either way, the first and most important task on which to concentrate is obtaining customers. And their first few weeks or months will be devoted to precisely that objective, because without customers they have no income and, therefore, no business. The second task is to provide the products or services that they offer.
Only then does the new business owner get involved in the process of setting up an accounting system in order to send out invoices, and keep their fingers crossed that the new customers will pay on time. Some do, and some don’t, but that’s the way business is sometimes.
Only after having acquired customers and started to send out invoices does the thought of bookkeeping enter their heads. Suddenly, this is a whole new area to which they have probably never given any thought, and in which they have no skills. They are carpenters, or electricians, or computer experts, or web designers, or printers, for heaven’s sake, yet now suddenly they have to learn bookkeeping. And many will do so – until the point where the bookkeeping begins to take up too much time. At that point they will then look for outside help or perhaps employ a bookkeeper. The whole thing has just become too much to handle.
In one sense that is great news, because it means that the business is succeeding. However, bookkeeping entails a lot of different jobs and is a skill on its’ own, as you will know if you are a bookkeeper.
Among many other functions, one of the most important parts of a bookkeepers’ job is to look after the payroll of all of your clients, and this, of itself, can take up a lot of time when you could be providing more profitable services to more clients. This is why so many bookkeepers use the payroll services for bookkeepers in London that we provide at PayCheck.
Payroll on its’ own can be complicated and time-consuming for bookkeepers to handle for their clients. It’s bad enough if you only have a handful of clients, but as your own business grows and you take on more clients you can wake up one day and find that you have to handle payslips for thousands upon thousands of individuals, a large proportion of whom have differing requirements regarding tax codes, compliance with ever-increasing legislation, overtime, bonuses, holiday pay, commissions, and all the rest of it.
At PayCheck, we are devoted entirely to providing payroll services for bookkeepers in London which enables you to offload that side of the services that your clients require so that you can concentrate on more profitable aspects of your business. We offer you several different partnership models in order to dovetail in with your own requirements and those of your clients, including your own dedicated accounts manager who will work hard to run your client payrolls so that everything proceeds without a hitch at all times. We are ISO 9001 and ISO 27001 certified and also a licenced commercial BACS bureau, so we can deal with anything and everything that you wish us to deal with.