Thinking of Changing From Calculating Payroll Manually to Using Software in 2019?
Are you calculating payroll manually at present?
While talking to clients about PAYE modernisation, questions about payroll software or costs attached to different packages come up a lot. What are the advantages or disadvantages of different packages etc.
If you’re not sure where to start, I wrote a short note last week that might help, see Simple Note on PAYE Modernisation.
Revenue estimate 50,000 employers are calculating payrolls manually. Obviously, many of these won’t have many employees as this would prove very cumbersome. This note is specifically for those companies.
If you’re looking at investing in software soon for payroll, you might want to compare pricing structures. I’ve noticed variances with providers and some providers now charging for ‘training’ to learn how to operate their system next year, while others are more cost effective and providing training for free.
For example, Thesaurus Software have two packages, Thesaurus and BrightPay. We use the ‘Bureau’ version of their software which costs only €339 plus VAT (Thesaurus) and BrightPay is only €299 plus VAT. This company is offering free webinars which are very helpful, they are recorded and only 90 mins in length which again if very user friendly.
Other payroll software companies are hosting day long events that you will have to attend (obviously dates set by the company which may not suit the accounts person that has to attend an out of office training session) and another company are charging their bureaus about €1,000 for a training session on their system!
There are also ‘free’ packages online that can be used. If you are calculating payroll for the first time in a new business, please ensure your system is set up correctly by someone who is familiar with payroll package.
PAYING FOR SUPPORT?
When considering the cost of the package, please remember that ‘support’ is always worth paying for if it is a reasonable cost for your business. Looking at the free training being provided by Thesaurus at the moment, you can notice the value in paying a small amount for a software package.
If you have a large number of employees the cost of payroll software can be expensive, and it might also be tailored for your company needs, this note is for the smaller businesses that may or may not be using a software provider at present, to explain what will happen going forward.
If you are calculating payroll manually, you can continue to do this on the Revenue system each month or week in 2019 but there are obviously advantages to using payroll software.
Anything that can save us time should always be looked at in terms of the cost saving.
Valuing your time and ensuring you use your time in the most cost-effective way is key for business success.
For information on Brightpay and to book at demo of their system – see here.
For pricing for Brightpay – see here.
Obviously, there are a lot of options available to small businesses, I’ve chosen these as an example of pricing and especially the cost differences in ‘training’ in relation to PAYE modernisation.
If you’re still considering whether or not to change to a computerised system for payroll for 2019, watch a demo of software, consider how long payroll takes you to process at the moment, value your time and make an informed decision in the coming two weeks as you still have plenty of time. Don’t wait too long before deciding though.
If you have any queries in relation to PAYE modernisation, please do contact your accountant or payroll provider to discuss concerns.
New blog site: www.wendymerrigan.ie
Sign up for more articles like this one and feel free to share any information you feel might benefit others.