Paycheck Plus - Making Payroll Easy

Over 750,000 cases were reviewed by the office of the Social & Family Affairs in 2009, resulting in savings of €484 million through fraud and control measures. There were 620 staff involved in the investigation of fraud and new measures have been introduced to combat future fraud attempts. These include requiring jobseekers to provide photo ID when they collect their payment in person each week at the Post Office. A new Public Service Card with photo ID will be rolled out from 2010 which will provide a new secure card for some 3 million people. Read more

Inter-agency checks in towns near the border will counter welfare tourism and abuses while data matching will be completed with external agencies including the Registrars Office on Births, Marriages and Deaths, Revenue Commissioners, Department of Education and the Taxi Regulator.

Over 600,000 claims were reviewed with medical checks and certification for non-Irish nationals to prove continued entitlement to child benefit.

Over 5,000 anonymous reports of suspected fraud were made by the Public. Approximately 380 people were prosecuted in 2009 and were instructed to repay the money and fined or given a prison sentence.

The recent Act provides for the introduction of a 4 year time limit for claiming PRSI refunds. This applies where PRSI was mistakenly paid on maintenance payments and pension contributions. The new time limit applies to PRSI refunds and does not apply to Health Levy refunds which an individual may be entitled to claim (eg where an employee paid the Health Levy at some stage during the year but their reckonable income does not exceed €26,000).

The payroll function is at the heart of organisations yet all too often it is taken for granted. As payroll is one of the largest costs to any business, it requires a thorough understanding of the legislative and calculation processes. However, the resources required bring no added value to the business according to Anne Reilly, Director of Paycheck Plus.

Many companies mistakenly believe that processing their payroll in-house is the most cost effective method of fulfilling this repetitive function. In fact, the cost of processing payroll in-house may be up to five times more expensive than outsourcing when you take into consideration the real cost of retaining qualified staff who have been competently trained in their profession.

Every member of the payroll team at Paycheck Plus is fully qualified in Payroll calculations and employment law. They utilise their expertise by checking every payroll for maximum tax efficiencies resulting in average savings of 7% of annual payroll spend for their clients. They translates to approximately €2,000 per employee on a salary of €30,000. Companies processing in-house think only of the direct software costs and gross salary payable when comparing options, but they should consider the less obvious costs of training, holiday and other leave, employers PRSI, hardware costs, consumables, data storage and opportunity costs. Additionally errors in payroll can cost a company dearly through incorrect calculation of the various taxes and levies or contravention of legislation.

As the benefits of outsourcing payroll gain momentum in Ireland, engaging the right outsource provider is crucial. Companies should discuss their payroll with a few providers to ensure that they feel comfortable working together. At Paycheck Plus we believe that the personal and trusting relationships we have with each of our clients is critical. It enables us to work almost like a department within their company rather than an external firm. We share relevant and up to date information tailored for our clients needs to assist them in operating and planning their payroll costs. Our website at www.paycheckplus.ie provides many useful resources for employers and their employees as well as leaflets and forms for convenience. Our clients say it really helps in Making Payroll Easy for their business and for their employees.

When choosing an outsource provider, ensure that you are confident with the service offering and the level of expertise to handle the various changes in employee and business circumstances. Compliance and accuracy requires professional and on-going training in the various aspects of payroll calculations and legislative regulations. Paycheck Plus spends 15% of all working hours on continuous training of their team so that their clients can benefit from the most up to date information available. Their back-up and contingency plans are designed to safeguard continuity of service and protection of critical personal data. It’s no coincidence that this company has twice been awarded Payroll Outsource Provider of the Year for the Small and Medium Sector by the Irish Payroll Association.

Outsourcing this repetitive back-office task to a reputable provider ensures the client receives the optimum service of qualified and experienced payroll professionals as they need it while retaining control of their payroll outputs. Given the benefits of payroll outsourcing it stands out as not only a viable option, but for many cost conscious businesses, the most sensible option available.

Business Plus March 2010.

Payroll is not just about the numbers

Paycheck Plus has combined sophisticated systems with a personal service to create a seamless payroll bureau for its clients

Payroll is one of the most important functions in a business, especially considering that it concerns the greatest asset that any company or organisation has – its people. But payroll is never straightforward. Legislation is in a constant state of flux, people’s personal circumstances will dictate their levels of allowances, and overall it takes specific skill sets to ensure that every employee in an organisation is paid their fair amount – skills that may be outside of the remit of an in-house accountancy department.

Of course, even if the knowledge does exist in-house, the information behind that knowledge needs to be constantly updated as legislation changes and employees’ circumstances change. This places added pressure on a company which should instead be using its personnel to concentrate on its core business, especially in these straitened times. Outsourcing is a proven means of freeing up this time, but when the issue is as sensitive as payroll, businesses need to ensure that their payroll outsource partner is someone in whom they have full confidence.

Paycheck Plus offers companies, and especially SMEs, a modern, cost-effective payroll outsourcing service which come with the utmost of personal attention and quality customer service. Every member of the Paycheck Plus team is fully qualified in payroll, which gives it an immediate advantage over traditional accounting departments – as Paycheck Plus managing director Anne Reilly put it, the company “occupies a niche between accounting and HR”.

“Accountants look at the numbers,” she said. “We look at the person behind the numbers. For example, if you are a single parent, you may be exempt from the health levy, and that could lead to a saving of 4% on your gross salary. Other factors such as age, or whether or not you are a medical card holder, can also affect what you are paid. We understand that payroll is not just about tax – you also need to take the time to understand each individual’s personal circumstances.”

Paycheck Plus typically deals with companies ranging from one employee to 500 employees, and it will tailor its services to its clients’ exact needs. It does not impose its own systems on its clients – rather, it will try to dovetail its systems with what its clients already have. This is all part of its client-centric approach, which is about “making payroll easy”, and achieving the maximum benefits for its clients with the minimum of effort.

Obviously with such a sensitive subject as payroll, security and confidentiality are paramount, but these are just the starting point for Paycheck Plus. More important are the personal relationships that that company forges with its clients, as well as the levels of tailored and sector-specific information that Paycheck Plus makes available to their employees in the form of newsletters, e-mails and a download centre on its website – www.paycheckplus.ie.

“We have spent the last five years trying to identify our typical clients,” said Reilly. “But the only common factor that we can find is that they are striving to be the best in their given sectors. They are the best managed, and the best at what they do, and they truly value the services that we provide.”

Dave Boland – Sunday Tribune

The payroll function is at the heart of organisations yet all too often it is taken for granted. As payroll is one of the largest costs to any business, it requires a thorough understanding of the legislative and calculation processes. However, the resources required bring no added value to the business according to Anne Reilly, Director of Paycheck Plus.

Many companies mistakenly believe that processing their payroll in-house is the most cost effective method of fulfilling this repetitive function. In fact, the cost of processing payroll in-house may be up to five times more expensive than outsourcing when you take into consideration the real cost of retaining qualified staff who have been competently trained in their profession.

Every member of the payroll team at Paycheck Plus is fully qualified in Payroll calculations and employment law. They utilise their expertise by checking every payroll for maximum tax efficiencies resulting in average savings of 7% of annual payroll spend for their clients. They translates to approximately €2,000 per employee on a salary of €30,000. Companies processing in-house think only of the direct software costs and gross salary payable when comparing options, but they should consider the less obvious costs of training, holiday and other leave, employers PRSI, hardware costs, consumables, data storage and opportunity costs. Additionally errors in payroll can cost a company dearly through incorrect calculation of the various taxes and levies or contravention of legislation.

As the benefits of outsourcing payroll gain momentum in Ireland, engaging the right outsource provider is crucial. Companies should discuss their payroll with a few providers to ensure that they feel comfortable working together. At Paycheck Plus we believe that the personal and trusting relationships we have with each of our clients is critical. It enables us to work almost like a department within their company rather than an external firm. We share relevant and up to date information tailored for our clients needs to assist them in operating and planning their payroll costs. Our website at www.paycheckplus.ie provides many useful resources for employers and their employees as well as leaflets and forms for convenience. Our clients say it really helps in Making Payroll Easy for their business and for their employees.

When choosing an outsource provider, ensure that you are confident with the service offering and the level of expertise to handle the various changes in employee and business circumstances. Compliance and accuracy requires professional and on-going training in the various aspects of payroll calculations and legislative regulations. Paycheck Plus spends 15% of all working hours on continuous training of their team so that their clients can benefit from the most up to date information available. Their back-up and contingency plans are designed to safeguard continuity of service and protection of critical personal data. It’s no coincidence that this company has twice been awarded Payroll Outsource Provider of the Year for the Small and Medium Sector by the Irish Payroll Association.

Outsourcing this repetitive back-office task to a reputable provider ensures the client receives the optimum service of qualified and experienced payroll professionals as they need it while retaining control of their payroll outputs. Given the benefits of payroll outsourcing it stands out as not only a viable option, but for many cost conscious businesses, the most sensible option available.

Sunday Business Post

The payroll function is at the heart of organisations yet all too often it is taken for granted. As payroll is one of the largest costs to any business, it requires a thorough understanding of the legislative and calculation processes. However, the resources required bring no added value to the business.

Many companies mistakenly believe that processing their payroll in-house is the most cost effective method of fulfilling this repetitive function. In fact, the cost of processing payroll in-house may be up to five times more expensive than outsourcing when you take into consideration the real cost of retaining qualified staff who have been competently trained in their profession. Aside from the gross salary payable, organisations should consider the less obvious costs of training, holiday and other leave, employers PRSI, hardware and software costs, consumables, data storage and opportunity costs. Additionally errors in payroll can cost a company dearly through incorrect calculation of the various taxes and levies or contravention of legislation.

As the benefits of outsourcing payroll gain momentum in Ireland, engaging the right outsource provider is crucial. We advise companies to discuss their payroll with a few providers to ensure that they feel comfortable working together. The values of the provider should match the culture of the company. The personal relationship we have with each of our clients enables us to work almost like a department within their company rather than an external firm. It is important that the trust is there from the beginning so check out references from other clients.

Ensure that you are confident with the service offering and the level of expertise to handle the various changes in employee and business circumstances. Compliance and accuracy requires professional and on-going training in the various aspects of payroll calculations and legislative regulations. Enquire about back-up and contingency plans to safeguard continuity of service and protection of critical personal data. A reputable and established provider will be happy to discuss your concerns and provide a flexible solution to suit your needs.

Outsourcing this repetitive back-office task to a reputable provider ensures the client receives the optimum service of qualified and experienced payroll professionals as they need it while retaining control of their payroll outputs. Given the benefits of payroll outsourcing it stands out as not only a viable option, but for many cost conscious businesses, the most sensible option available.

Business & Finance 16^th December 2009.