There is absolutely no doubt whatever that one of the biggest headaches for any small and growing enterprise is payroll. Very many businesses are started by an individual, or perhaps two or three individuals who go into partnership together. It can take a lot of work to get a business off the ground, the first and most important thing being to gain customers. Without customers, there is no business. Having got customers, the business then has to provide the products or services that it offers.
If the owner(s) are successful in getting the business up and running, it will not be too long before they will need to take on an employee or two, and the instant that happens the business becomes involved in payroll. This is something the start-up entrepreneurs probably never even considered until the business expanded to that point, and they suddenly find themselves involved in all the complexities of payroll and dealing with HMRC. This starts to take them away from their primary concern of gaining customers and providing the products or services, and as the business expands and takes on more employees, the whole thing becomes time-consuming, and for a lot of people, boring as well.
This is one very good reason why, as an accountancy firm, you should offer payroll services to your clients. It adds another string to your bow and can make your business a one-stop shop for everything that your clients need. It also goes without saying that it adds another revenue stream to your business, and it is always a good thing to have a regular monthly income coming in, especially if you provide payroll for a large number of clients. Offering payroll services can also make your business more attractive to new clients who may not have considered using your services before.
Not only will your clients believe that they will get a better level of service from an accountancy firm that also offers payroll services, but another very good point is that the payroll data will be instantly available to you at the financial year end.
You Don’t Have To Do The Work Yourself
Now, you can run the payroll services that you provide in-house, or better still you can outsource the payrolls to us at PayCheck. We provide payroll services for accountants so that you can offer your clients a streamlined payroll service without actually having the trouble of operating and running it yourself.
This benefits everybody. First and foremost, your clients get rid of all the issues around running their own payroll, and it enables them to get on with what they should be doing, which is growing their businesses. It also means that they are not likely to change their accountants since you are offering them all the services that they need. From your point of view, you add another stream of regular income to your practice, and yet you don’t need to do any of the work involved with handling it.
At our side of things, we also have another income stream, so it increases our revenue as well. And as we said, you may very well find that new clients are more likely to employ you since offer all the services that they need under one roof. Looking at it another way, if you don’t provide payroll services, your client may approach another accountancy firm which does, and in that case you could finish up actually losing a client.
We can handle absolutely everything for you and your clients with our payroll services for accountants, including BACS payments since we are a BACS registered bureau. We can also run your clients’ auto enrolment pension schemes for them, which is another big headache that most businesses are only too happy to get rid of.