Commitment to supply a weekly payroll which doesn't happen around the bookeeper making holidays difficult to plan for one person businesses
Low return for the time and software investment required.
Highly competitive, driven predominantly on price with little hope of using differentiation as a marketing tactic.
It's worth noting that there is a niche market for payroll specialisation which incorporates taking on the payroll commitments of other bookkeepers.
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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.
It is also something that many small businesses don't find too hard to do themselves with fairly minimal commitment, even if they can't manage bookkeeping etc.
Although I offer payroll services I don't deliver them myself. I think you need to have a vast number of payroll clients before you really start making a profit. Given the time to prepare payslips and to ensure you're doing everything spot on I don't feel it pays well enough.
I chose to ask another bookkeeper to do my payroll clients for me, and she does a great job.
I offer BOTH services .... Payroll on weekly,4weekly & monthly basis and do all the payslips & paperwork as it's so easy to email everything now.
I also do the bookkeeping for various clients and the work is done during the month and it all works quite well for me but then I have been doing it for a while :)
I have quite a few small payrolls because the client would prefer to work on the business rather than do the payroll though most Accountants seem to offer the service now which is impacting on bureau's such as mine.
