I have been approached to provide monthly payroll services to a local company for 35 staff. They are paid monthly on the 15th of each month.
My question, to those who also run payroll for other businesses, is how many days in advance do you normally require the payroll information to be provided to you from the company. I have no problem with turning the information around quickly but don't want to cut it too fine.
Are the staff paid direct into their bank account? If so then obviously the client will need 3 working days to process the payments into employees bank accounts. Bearing this is mind I would think that as long as you already have new starter and leaver info (if applicable) then you should ask for the info 5 working days before the 15th. This leaves you a couple of days to get the payroll done and get necessary additional information from them if required (although processing 35 employees payroll should only take about an hour or so max.) then you will have to process the salary payments through the bank (or pass the info back for the client to do) on the third day so it will hit the employees bank on the 15th.
Thanks for your prompt answer. It confirms what I was thinking about asking for it 5 working days before the payment date, I just didn't want to cut it too fine but then I didn't want to go back to the potential client asking for the information too many days before the processing date and they think what kind of operation am I running.
Just thought of one more question to add: When all of the reports and payslips are run would you normally put them into payslip envelopes or do you normally leave that to the company.
Thats totally up to your client. I would ask them what they want. Dont forget that if they want you to put wage slips in envelopes and post out this will be extra cost for you
The payroll outsourcing company I used to work for had a 10 day turnaround for monthly paid clients. 10 days before I would request the information, I would then hopefully recieve and have it to process 7 days before, and send a validation document from payroll for them to sign off, just to be sure the information got to the bank in plenty of timef or the bacs to go through.
We had a machine (we called Bertha) who heat sealed the payslips, then we posted them to the client to distribute. The client was charged for the service then a per payslip cost also.
