I've have been offered some payroll work through one of my existing clients. As i've passed the ICB exam i am quite keen to take this on and have Moneysoft Software which I can use.
I'm a little concerned about taking on payroll work as the pay runs are monthly and fornightly with the fortnightly people being paid by the hour and will be submitting timesheets. It's just me in my business at the moment (hope to expand at some point) and I will be having some time off to go away later on in the year for a couple of weeks. I'm concerned that I won't be around to process the payroll while I am away so I'm thinking that I will have to turn down the work which would be a real shame.
I wondered what other people currently do in terms of submitting payroll if your away on holiday?
Any thoughts, comments for advice would be greatly appreciated.
I have this same problem. Fortunately, at the moment I only have a couple of clients which are both monthly. I let them know when signing them up that there may be times when I wont be around. To get round it I give them as much notice as possible, and then calculate it as close to the payroll date as possible. If there are major differences I'll recalulate the payroll free of charge, but if the differences are minor they have been happy to adjust the following month.
I have been known to take the laptop on holiday with me and process the wages whilst on holiday just to keep the client happy, but this isn't always possible.
When your away, do you have access to the internet? Maybe an online payroll service would work?
that's the downside of payroll, it's unrelenting and you can't prepare it in advance for periods when you are not available.
Have you thought of taking someone on in order to cover when you're not in the office? (What about when another client needs you? Payroll doesn't wait for anything).
An accountant freind of mine lost a very lucrative position because she could not give 100% commitment to covering a clients payroll, which was just a low profit margin an add on service.
First time that employee's are paid late you will have someone bawling down the phone at you.
If they're paid incorrectly (even though it's normally because you've been given the information late, incomplete or incorrectly... Someone will be bawling down the phone at you.
All in all, unless you're really geared up for it and can handle the commitment to anything more regular than monthly payroll then I would let it go.
But that's just me.
All the best,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
My solution, though not ideal I admit, is that I always take my laptop & blackberry away with me so that I can access my software & files. I do the payroll for a number of clients on a weekly, fortnighly and monthly basis and this is the only way round it for me otherwise I would never get a break. For the payroll I offer everything is dealt with electronically so I don't have to worry about the mail.
Hi, I've always submitted a week's payroll in advance twice a year. Client's know this happens and know there will occasionally be a short delay in overtime being processed. I'm pretty sure one 'bungs' £xx cash to stop them kicking up a fuss and then reconciles it when the wage slip comes through.
I think they know its an add-on service and providing they're happy with everything else, they'd rather inconvenience the employee.
I would like to take some one on - but I'm not quite at that point in my business yet so unfortunately that's not a option. It's a bit of a catch twenty two, I need more business before I can employ anyone but can't take on some types of business as I don't have the cover.
Yes I could take my laptop with me but I don't have the access to the internet as I would do in the UK and I think that I would be uncomfortable relying on that.
I think that I am going to quote for the work but explain that I may not be around to process some on the fortnightly payroll therefore it may need to be backdated or corrected the following week if I am away. This way the client knows what service they can expect to receive from me and we both know where we stand from day one. I am hoping to have some additional help from next April so I might suggest that they could stay with there existing company for now and start with me in the new tax year as an option. What does everyone think?
Thanks for everyone's feedback and help. Ann-marie
Hi Anne Marie
With regard to the internet I make sure that when I go abroad I always stay where they have wifi. But there are also many cafes/bars which offer free wifi, well free for the price of a drink
Regards
Mark
And depending where in the far east you are the electricity is often not that brilliant either. (Not been to China but lived in Northern Thailand for a while... Certainly not somewhere that you would plug a computer in without surge and spike protection).
Anyway, enough of that. Tell us more about the impending trip.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Shamus you do make me laugh - but yes it's quite true about power surges on electrical items, you do have to be careful!
Well this is my third visit to China, flying into Hong Kong for a couple of days and then spending two weeks in Guangzhou. Planning on doing plenty of shopping, sightseeing and hopefully a trip to Macau - really looking forward to it.
We went to McDonalds in France and my Son was on the WiFi with his Ipod, apparently it was FREE, I didn't even realise or see the advert advertising FREE WiFi.