The Impact That Payroll Has On A Business

The Impact That Payroll Has On A Business

The payroll process has a major impact on your business. It seriously impacts the success of your business in both the accounts side of the business and the HR side of the business too. In this blog post we look at the impact payroll has on a business and why you might want to consider outsourcing your payroll to our professional payroll team in Peterborough.

Payroll affects the accounts side of the business as each year you need to report the net profit of the business. To do this correctly, you need to pay your employees correctly and report it correctly too. If you report your net profits late or wrongly this can result in charges, late fees or inspections from the HMRC.

Your payroll processes your business on the HR side of things. Every business wants happy employees. For this to happen you need to treat your employees and this means paying them on time and with the correct amount. If there are errors in your payroll this could mean that employees are paid too much or not enough. They could be paid later than expected or pay too much or too little tax on their wages.

If your employees pay the wrong amount of tax, they could be left short of money. Alternatively, they might not pay enough tax, and this could mean they have to pay a bulk amount at a later date. This is something your employees might not be prepared for and it could result in them having some serious money problems.

When employees aren’t happy with how they get paid or the mistakes in the payroll they will become annoyed. This will affect their productivity at work and the overall team morale too. Making sure that your employees are paid correctly is one of the most basic requirements for ensuring your team feel valued and safe within your business and their job.

Research shows that around 50% of employees leaving their job do so because they feel their employer doesn’t care about them. Employees that are paid late or incorrectly will definitely fall into this category!

For these reasons alone, we are sure you can see why a working payroll system is so important to businesses. Risking your payroll means risking your entire business. If you want to make sure your payroll doesn’t let your employees or your business, call us now about outsourcing your payroll in Peterborough.

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Testimonials for AK book-keeping

Electronics online retailer

Our decision to choose the services AK Book-keeping and Payroll Services has turned out to be a really important enabler to the growth of our business and has delivered us fantastic value for money. Their accuracy and efficiency in compiling our accounts and payroll documents has allowed us to focus on the things which we do well and add real value whilst removing the distraction of unwanted and complex administration work. I would recommend them without hesitation.

Chris

AK Book-keeping
5
2015-10-23T16:25:46+01:00

Chris

Our decision to choose the services AK Book-keeping and Payroll Services has turned out to be a really important enabler to the growth of our business and has delivered us fantastic value for money. Their accuracy and efficiency in compiling our accounts and payroll documents has allowed us to focus on the things which we do well and add real value whilst removing the distraction of unwanted and complex administration work. I would recommend them without hesitation.

Carpet & Lighting retailer

Now that we have AK Book-keeping doing all our tax returns, wages but to name a few, we have more time to focus on the business and a lot more leisure time

Simon & Cathy

AK Book-keeping
2015-10-23T16:26:07+01:00

Simon & Cathy

Now that we have AK Book-keeping doing all our tax returns, wages but to name a few, we have more time to focus on the business and a lot more leisure time

Multiple Franchise Owner

I Periodically review my resources (like any business should) and on each and every occasion I have decided to retain AK Bookkeeping’s services. It’s one of those business I know I can depend on.

Bob

AK Book-keeping
2015-10-23T16:44:40+01:00

Bob

I Periodically review my resources (like any business should) and on each and every occasion I have decided to retain AK Bookkeeping’s services. It’s one of those business I know I can depend on.

John – Building Company owner

We engaged AK Book-keeping some two and a half years ago, from the outset their communication has been excellent. We were provided with a schedule of monthly costs and a clear indication of what was included. To date we have had no reason to consider changing from AK Book-keeping as their service has been reliable, efficient and cost effective.

AK Book-keeping introduced us to Xero accounting system from the outset and for a reasonable monthly fee we benefit from all the Xero facilities available and have access to view our account, use data and monitor our performance and it is all relatively simple. We would recommend AK Book-keeping and the Xero system.

John

AK Book-keeping
2016-02-05T16:33:23+00:00

John

We engaged AK Book-keeping some two and a half years ago, from the outset their communication has been excellent. We were provided with a schedule of monthly costs and a clear indication of what was included. To date we have had no reason to consider changing from AK Book-keeping as their service has been reliable, efficient and cost effective. AK Book-keeping introduced us to Xero accounting system from the outset and for a reasonable monthly fee we benefit from all the Xero facilities available and have access to view our account, use data and monitor our performance and it is all relatively simple. We would recommend AK Book-keeping and the Xero system.

Online Retailer

Les has worked with us for 12 years now and supported our Bookkeeping and Payroll needs. Always helpful, cheerful and gets the job done efficiently. When required has helped us with other business related issues outside of Bookkeeping.

Online retailer

AK Book-keeping
5
2018-07-02T22:05:34+01:00

Online retailer

Les has worked with us for 12 years now and supported our Bookkeeping and Payroll needs. Always helpful, cheerful and gets the job done efficiently. When required has helped us with other business related issues outside of Bookkeeping.

Peterborough online retailer

Les has worked with us for 12 years now and supported our bookkeeping and payroll needs. Always helpful and cheerful and gets the job done efficiently. When required has helped us with other business related issues outside of bookkeeping.
AK Book-keeping
5
2018-09-19T18:24:06+01:00
Les has worked with us for 12 years now and supported our bookkeeping and payroll needs. Always helpful and cheerful and gets the job done efficiently. When required has helped us with other business related issues outside of bookkeeping.
5
3
AK Book-keeping