What is payroll?

Why is it important?  

Payroll is important for both employers and employees. For employers, it affects the cash flow, profitability, and the reputation of the business. Managing it in an accurate and punctual manner can help avoid penalties and avoid issues with employees.  

Ensuring you are paying employees fairly, accurately, and consistently can also help attract, retain, and motivate workers.  

How to do it?  

There are different ways to do payroll, depending on the size, complexity, and preference of the business.  

Some common methods are:  

• Manually in house, using spreadsheets, calculators, and tax tables 
• Using software in house, which automates the calculations
• Outsourcing to a payroll solution provider, who handles the entire process 

Each method has its advantages and disadvantages, and the best option depends on the needs and budget of the business.  

Why should you outsource payroll?  

One reason to outsource is to save time and resources. Doing it manually or using software can be time-consuming and prone to errors, especially for businesses with many employees, temporary workers or complex tax situations.  

Outsourcing payroll can free up team members from calculations, filings, and compliance issues, and generate cost savings by enabling them to focus on the core aspects of the business.  

A typical outsourced solution will cover: 

• Eligibility to work – satisfying regulatory and legislative demands as well as organisational needs and requirements
• Professional, vocational and educational experience and qualifications
• Personal details and professional references
• Financial checks such as probity, credit referencing, bank account checks
• Criminal record checks, aligned to country location
• Industry-specific checks, to comply with certain standards or trade requirements
• Database checks, such as driving licence checks or Disclosure Barring Service checks, for working with children or vulnerable adults
• Security checks, for working on designated projects. 

Managing payroll with Comensura  

Our easy-to-use payroll solution does the hard work for you, removing the administrative burden and providing outstanding candidate experience.  

Find out more