For lots of companies, the idea of moving away from their trusted accountant towards a more modern payroll management software may seem like too large a jump. Many believe that such software, while often less costly, requires further work and input on their behalf.
Nevertheless, what people often fail to understand is that accountants are not necessarily payroll experts. While they may be able to crunch the numbers or produce pristine balance sheets, they are not always particularly up-to-date with the latest payroll rules and regulations.
So, when companies employ accountants to run their payroll, they may well be paying significant amounts for a solution that is often unreliable, inefficient and hardly turnkey.
🧮 Accountants & Payroll
An accountant's main job is to consult, advise and support their clients in decision-making processes.
First and foremost, we aren't looking to belittle the role of accountants and we appreciate that they play an important role in helping support and run businesses. However, while their contribution towards optimising certain fiscal matters within an organisation shouldn't be underestimated, their know-how with regards to more administrative processes can sometimes be queried.
For a significant amount of time, payroll has lagged behind other industries. Change has been slow and unforthcoming, with Excel spreadsheets, paper payroll and, of course, accountants largely favoured.
By outsourcing payroll to accountants or other specialist firms, companies ultimately restrict the visibility of their payroll system and, as a result, have little knowledge about what goes on behind the scenes.
🏠 In-house solutions
Rightly or wrongly, most businesses consider payroll to be a tedious and challenging exercise. With the majority of their staff already snowed under with work, bosses are often reluctant to adopt solutions that they feel will add to what is an often already heavy workload.
Many companies may think that they would rather spend money outsourcing this sort of service, rather than waste their time on performing it themselves. It's a perfectly reasonable position to hold; after all, why should someone choose to do something themselves when they've got the means to outsource it?
For others, it's just a question of force of habit. Because payroll is such a regular occurrence - once a month or more - companies find themselves continuing to outsource because it is the "done thing" within their organisation.
Reluctant to change, and also believing that they do not have the right personnel or resources in house, companies continue to use outmoded methods. Nevertheless, the reality is that performing such tasks is often not as complicated as they may initially seem.
🏠✅ PayFit = in-house with the benefits of outsourcing
Like many things over the last few years, working methods have evolved. The automation and efficiency of processes have taken on extra importance as companies look to keep up in this increasingly digital age.
At PayFit, we consider ourselves to be an in-house software but with all of the benefits that you would associate with outsourcing. This is because our software looks to facilitate the day-to-day running of payroll-related administration, all while saving time and money.
Our goal is to support our clients in administering and running their payroll, while also ensuring that they remain fully compliant. Thanks in large to our team of payroll experts, who work in collaboration with our customer success team, we are able to offer solutions to payroll specific questions in real-time.
👉 PayFit & Accountants
We at PayFit also recognise that companies may be unwilling to lose touch with their accountant completely.
For the reasons outlined in this piece, accountants can still play an important role for a business; however, they may be better suited to purely consulting and advising their clients.
On the app, companies can have access to two different profiles; an administrator role and an accountant role. The administrator role provides the highest level of access and allows the user to define the roles and rights of other users in the administrator area.
The accountant role gives the user access to only documents and information related to a company's accounting.
Consequently, organisations can now control their own payroll duties, have visibility over the processes and systems, and also allow their accountants to focus on their core functions.
🗣 Chat with us
At PayFit, we firmly believe that our payroll and HR software can simplify the day-to-day lives of managers, employees and accountants.
So, if you’re interested in discussing the ways that we can support your business with administrative and HR tasks, then why not book a demo with one of our product experts?
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