Outsourced and / or joint processing

Many businesses – from small to large – outsource their payroll processes to Finance Services.   Finance Services works closely with these clients to plan, schedule, and implement accurate payroll processing.

So if you are in   RETAIL     SERVICES     MANUFACTURING    DISTRIBUTION   MEDICAL   OR TRADES we can help!

The Process

Step One: Free Consultation

Finance Services visits prospective clients to develop recommendations to meet precise payroll requirements. This free consultation answers a variety of questions including: possible link with existing client payroll processes (including time and attendance systems); Revenue and accounting compliance issues (including Sarbanes Oxley compliance); defining staffing levels; defining management reporting requirements; review Year-End processes & requirements; payslip requirements; Electronic Fund Transfer requirements; Holiday/absentee tracking, accrual, and reporting requirements; systems integration if required; and similar.

Having defined client requirements, Finance Services forward a comprehensive proposal and budget for client review and signature.

Step Two: Payroll Set Up

Clients forward all employee-relevant payroll information to us. This may include designation of specific employees to be included on any payroll run; P45 (used to determine standard tax reliefs); employee-specific pension, BIK, or other accrual information or deductions; employee-specific pay periods; and similar.

Step Three: Implementation

Finance Services then implements the client-specific Payroll Bureau Service solution. Most Bureau Service solutions include:

Monthly (or pay period-specific) Service:

• Ongoing Payroll Processing – per pay period
• Preparation of Paypath Register and payment Electronic Funds Transfer consolidated file – this is sent to clients on a pay-period frequency, enabling our clients to expedite Electronic Funds Transfer
• Print or Email despatch of payslips direct to employees
• Preparation and processing of P45’s (in the event that an employee leaves the client company)
• Monthly Payroll Reports including control summary, gross to net listing, P30 details (for PAYE/PRSI Revenue payments)

End of Year Processing

• All annual P35 and P60 processing for each employee
• Distribution of of annual P60’s by post to a client representative
• Liaison with Revenue Auditors (when required)

Additional Bureau Services

• Time Sheet and Attendance importing
• Nominal Journal Reports
• Journal files for other software systems (SAP, Oracle and others)
• HR/Time & Attendance master file importation
• Special/bespoke management report development and despatch