Many small businesses – and a number of bigger ones as well – choose to outsource some of their day-to-day jobs that, while being an essential part of the business, are not the sort of things that they want to handle themselves, for one reason or another.
Chief of these is often their payroll, because it can be complicated, time-consuming, and boring. Let’s face it, when you go into business as a printer, a clothing manufacturer, a building contractor, a vet, and so on, the last thing on your mind is payroll. It’s “maths”, isn’t it? And, if asked, many of us would say that the lessons we disliked most at school were maths.
To be fair, it does take a certain mindset to enjoy maths, but then it takes all sorts, and there will be a percentage of people who thoroughly enjoyed algebra, calculus, and so on, and getting their brains around them. Those are the sort of people who may well later become accountants and can earn greater than average salaries because “doing the accounts” is something most business-people would rather not get involved with.
As an accountant, you are in a perfect position to offer to take your clients’ payroll off their hands. Payroll services cover a number of employment-related activities that businesses have to deal with. They include processing the payroll, providing payslips and P60 forms to staff, completing payroll year-end submissions, calculating tax and National Insurance liabilities owed to HMRC, and managing pension auto-enrolment.
There are a number of advantages in offering these services to your clients, not the least of which is that in most cases your clients will be very happy to get rid of the job. It provides you with another income stream from existing clients and helps you to retain them. It can also be an extra incentive for new clients to use your services. So, there are very definite benefits for your practice.
Better still, if you prefer, you don’t even have to handle your clients’ payroll yourself, because at Pay Check we provide payroll services for accountants.
That’s right, you can provide the service to your clients and use our payroll services for accountants to carry out the day-to-day work. Everybody wins. Your clients get rid of the tiresome job of payroll, you add another profit stream to your practice, and we get extra work as well, doing what we do best.
Call us to arrange a meeting to discuss your needs further.