PayCheck Provides A Complete Payroll And Auto Enrolment Pension Service
Founded in 1996, PayCheck has grown to become one of the foremost and most trusted payroll service providers in the UK. On the way, we have taken over several other smaller payroll companies and we now run the payrolls of over 1,500 companies with staff numbering from 1 – 2,000. We process 50,000 payrolls every month.
In addition to running payrolls, we also provide auto enrolment pension schemes for many of our clients, as this is another area very closely connected to payroll, and which is also something which can get very complicated, and which many businesses are only too happy to outsource to specialists such as ourselves. The reason that they can be complicated is that employees have to be auto enrolled, but there are some exceptions, they can opt out but then at a certain point have to be auto enrolled again, they can opt out again, and so it goes on. It also depends on the employee’s age and how much he or she is paid, so if you have a number of employees, keeping track of all this can be difficult.
We can run part or all of your payroll requirements. So, for example, you might want us to do all the calculations around who should be paid what on each of your paydays, whether they are weekly fortnightly, or monthly, and then leave you to prepare wage slips and send cheques out to your employees, or you can leave us to prepare the wage slips and pay your staff.
Payment Using BACS
If you want us to do everything for you, which is by far the best way because then you do not have to do anything at all, we can pay your employees using BACS, the Bank Automated Clearing System, which has been in use since 1968 and is totally secure and encrypted. Around 90% of all wages in the UK are now paid using BACS. This has a number of advantages for you as the employer and for your employees too.
If you have to prepare, check, and collate cheques with a remittance advice, it takes time, and you also have the cost of cheques and posting them out to your employees. When you use BACS, the process is very simple. If your total wage bill for the month, or whatever period you pay your employees on, is, say £25,000, that money stays in your account until the very last minute.
All that we then need to do is to debit the amount from your account and then send out the individual payments to the bank accounts of each one of your employees. This is the least costly way of paying them.
From the point of view of your employees, the money arrives in their accounts on the due date. It arrives as cleared funds so the employee can use that money immediately. Employees do not have to physically visit their bank and – usually – wait in a queue in order to pay in their cheque, which then takes time to clear.
At PayCheck, we also provide online payroll services for accountants. This is not just for paying your own staff wages, but you can use us to provide payroll for all your clients too. Using our online payroll services for accountants means that you can offer the service to your clients. That means that you can offer a complete service to clients who, if they are looking to outsource their payroll, will not then have to look elsewhere. So, you get to keep your clients and, of course, it means that you have another nice monthly revenue stream coming in without having to do any of the associated work.