By Neilson Watts (Product Manager, Sage One Payroll).
Don’t be the April fool who left getting ready for Payroll Year End and the new 2015/16 tax year right until the last minute…
I’ve worked in a number of micro and small businesses in my time when everyone just rolls their sleeves up and cracks on with it…and it always feels like you’re running a thousand miles an hour…you just don’t have time!
Ok, I’ll admit that I’m the alpha male who is always thinking I’m all powerful and that I’ve still got time to do other less important things just because I can. I’ll come out flexing my brain muscles and power of recovery to look like the hero who saves the day but the reality is somewhat different…
So what is the reality of not spending a little time planning?
You refuse to get off that work treadmill and prepare…exceptionally confident that everything will still be ok…but when you get to the time when you need to do it, how do you feel? Any of the following ring true?
* You feel rushed
* You feel unprepared
* You don’t feel in control
* You make mistakes because your rushing
I’m the first to admit it’s not a nice a nice place to be. It can leave you feeling stupid and completely knocking your confidence…even pulling your hair out (not good when you’re bald like me)!
And how could this impact your payroll?
* Should I do year end first or week 1 of the new tax year? Choices!…decisions!
* You may end up paying your employees late
* You make mistakes missing off overtime, or keying in wrong figures
* You don’t submit to HMRC on time
* You’ve got frustrated and unhappy employees
* You’ve potentially put yourself at risk of a fixed penalty or fine!
And what is the simple lesson?
Don’t act like an April Fool! Have a simple plan, particularly for payroll year end. Just give yourself 15 to 30 minutes of thinking time to get your ducks in a row. Then, when you come to complete your payroll year end, go somewhere quiet where you can avoid distractions.
So how Sage One can you prepare for Payroll Year End?
We’re already counting down to Payroll Year End and have already started communicating via email to customers with key dates, what support options are available and a handy free guide that will show them how easy it is to process year end in Sage One Payroll.
Our new Support Hub also contains answers to our Commonly Asked Questions, Help Centre articles and Video Hub which contains bite-sized videos to help you with regular tasks like how to make an employee a leaver, making a correction to your payroll and much more.
And of course, if you’re a Sage One Payroll user, the software will seamlessly and automatically update with all the latest legislation changes for the new 2015/16 tax year without you needing to do a thing. If not, sign up for a free 30 day trial now at http://uk.sageone.com/payroll/