Xero payroll is a secure online system, meaning no paperwork, which automatically calculates tax and annual leave entitlement.
Why bury your head in spreadsheets when managed payroll services can make everything easy for you? Hiring outsourced payroll providers takes the hassle out of the payroll process, leaving you free to focus on growing your business.
Simply, it’s a great way to make your life easier.
What is Xero payroll?
Xero payroll is an award-winning accounting software designed to provide payroll services for small businesses; handling HR and payment-based tasks such as staff salaries, annual leave booking, p60s, invoices and digital tax VAT.
Xero was founded in New Zealand in 2006 and has enjoyed huge global success, with multiple offices in Australia, UK and USA. It is used by small business accounting services to take care of finances in a simple, effective way.
As explained by Wikipedia: Xero’s key features include automatic bank feeds, invoicing, accounts payable, expense claims, fixed asset depreciation, purchase orders, bank reconciliations, and standard business and management reporting.
Why should I outsource my payroll duties to a Xero accountant?
Outsourced payroll providers, such as a professional Xero accountant, makes everything simpler. New starter? Great, just give your accountant the details and they’ll add them to the payroll. Student loan repayment? No problem. Payroll outsourcing solves these problems for you.
Crucially though, small business accounting services act on your behalf – meaning you don’t lose control of your finances. Letting an expert manage your payroll reduces stress and pressure, but you still have access to your payroll if you want to keep tabs on everything.
Xero payroll combines payroll, pensions and finance all in one; providing a simple, easy-to-understand solution for your finances.
Your accountant can set up profiles for each member of staff that contains their holiday allowance, personal details, tax and pension information plus payment history.
Employees can access their details in the Xero payroll portal, able to download encrypted payslips, view their holiday balance or book time off.
With a simple click you can create a payment and Xero payroll will automatically calculate tax and pension details for you.
Other Benefits of Xero Payroll
- Flexible payments available i.e. weekly or monthly, plus differing rates
- Easy claim and expenses management
- Built-in timesheets to keep track of working hours
- Easy statutory pay calculations
- Encrypted downloadable payslips
- Submit tax information direct to HMRC
Is Xero software safe and secure?
All Xero software data is stored safely in the cloud, which is encrypted and secured with multiple layers of firewalls.
Xero also performs regular security audits to ensure your data remains private.
This also means you can access data remotely, with no need for physical copies or risk storing everything on a hard drive.
How do I make sure my payroll is legally compliant?
To ensure your payroll is legally compliant, you (or your accountant) need to be on top of your finances and make accurate payments and deductions – such as income tax or employee pension contributions.
Once you collect tax from your employees, you need to provide them to HMRCto show your books are in order.
On payday, you must send HMRC a full payment submission (FPS) payroll report.
There’s a lot to consider as the more employees you have, the more complicated it becomes. From overtime to expense claims, it can be easy to lose track if you choose to handle payroll alone.
Outsourcing your payroll to a Xero payroll accountant means you can rest easy knowing your business is legally compliant and in safe hands.
You’ll keep your employees happy as well as the tax man!
Why choose Tim Taylor accountants to manage your payroll?
Tim Taylor provides a professional accounting service that feels personable.
Tim Taylor is also proud to be a Silver Partner of Xero bookkeeping and accounting software.
What does that mean for you? Peace of mind.
As an expert in Xero software, Tim Taylor is adept at using Xero to take care of your business’ bookkeeping, tax and accounting affairs.
Based in Swansea, Tim Taylor has been serving small-to-medium-sized businesses across South Wales since 2004.
Whether you’re an individual, new start-up or an established medium-sized business, Tim Taylor has the expertise you’re looking for.
Enquire now for free and find out how Tim Taylor can help you or your business.
Call 01792 363444 or email email@example.com