For many businesses, the easiest way of managing all this information is to enter it on a spreadsheet or specific form. The next step is then to check that it is all correct and to make any alterations needed.
Once all the information present and correct, wage slips can be printed and payments made to the staff. Many businesses use the BACS system as it is secure and straightforward.
The other side of payroll is to ensure that tax and national insurance deductions are made, along with contributions to any firm's pension scheme and any other deductions applicable to individual employees.
Payroll outsourcing removes the need for these mundane tasks to be done within your firm. A payroll company, such as ours here at Dataplan Payroll will manage all these areas and will work with you to ensure that the completed payroll is managed as you want, with opportunities to review and modify the payroll services at regular intervals. With managed payroll services you have all the benefit of an efficient payroll and none of the disadvantages of repetitive, time consuming work.