Payroll app solutions are designed to be the answer to the many problems associated with something that should be simple – a fair day’s pay for a fair day’s work. If you work via an agency on short- or long-term contracts, you’ll know that this kind of arrangement isn’t always as easy as it sounds. And if you manage an agency of workers, recruiting the right individuals to fill roles at others’ companies, you’ll have your own problems to deal with.
Sitting in the middle between candidates and recruiters, fielding calls, and queries from both sides, isn’t always the easiest place to be. A payroll app offers both agencies and agency workers a centralised solution. Here, we look at how.
Advantages of a Payroll App From the Agency Worker’s Perspective
Being an agency worker certainly has its benefits. You keep your independence, determining when you want to work, for whom, and for how long – when things are going well. But there are pitfalls too. You may end up doing your administrative paperwork late at night, after employees’ working days have ended. You might not be able to schedule holidays as employees do, because you need to work when work’s available. You might struggle to find your next assignment, or have money problems when you can’t work because of illness or the birth of a child, for instance. But with the right payroll app for small business, delivered by an umbrella company or Professional Employment Organisation (PEO), you really do get the best of both worlds. Essentially, you secure the rights of an employee while still getting to work for one or more employers and on projects of your own choice. You’re not tied down to a 9-5 job in the same way. A payroll app will work out all your tax and national insurance deductions at the source. And you won’t have to spend days (or nights) sweating over your self-assessment return every year.
Payroll applications for small businesses will also help with saving for a pension and offer insurance to cover you for any claims made against you by companies you are working for. Head to https://employeradvantage.com/payroll-services/ for more details on how such services can help. But the best advantage of all is that you will gain entitlement to employment rights that were previously the preserve of employees, such as sick pay, holiday pay, and parental leave. And that gives you an unbeatable degree of security.
How the Agency Can Benefit From the Best Payroll App
Ensuring compliance is a huge benefit to any agency looking for the best payroll app. Under the Criminal Finances Act 2017, a business can be held criminally liable if it fails to prevent tax evasion, even if that’s unwitting. So contracting out your payroll services to an external agency with the right credentials will offer you the security that you are acting fully in accordance with the law. And that’s because the professional employment organisation you choose will be validating payments and claims, and making the necessary tax deductions at source. They’ll also maintain accurate, transparent records for future reference if required. This means that you’ll also find your costs are streamlined when you employ the best payroll applications – you will no longer have to dedicate a whole department to ongoing, routine finance issues like invoicing and payroll. When there are changes to the tax regime or legislation, you won’t have to spend valuable time updating systems and records.
In short, you will have more time and resources to concentrate on the development and growth of your business. Your PEO will be your provider of all these services. More than that, having a strongly performing business partner like this, which is consistently handling financial transactions efficiently and accurately, will help to recruit and retain the right calibre of agency workers. With the right staff on your books, you can fulfil clients’ requirements more effectively, and that can only improve your business reputation.