Payroll Outsourcing Process
You tell us what you want and we do it for you!
Steps involved in outsourcing your payroll, assistance is provided if required at any stage.
Step 1 – Provide details of Company set-up
Payments & Deductions – theses are the items used to list what is being paid or deducted on the employee’s payslip.
Payroll Calendar – this is used to determine the frequency (weekly/monthly) of your payroll and the day that the wages are paid.
Departments & Cost Centres – this allows for the costings of different section within your organisation to be recorded via the payroll (eg Accounts Dept, Accounts Payable Cost Centre and Account Receivable Cost Centre)
Step 2 – Provide details for your Employees
Personal details of employees – Name, Address, PPS number, etc.
Tax Details – Tax Credits and Standard Rate Cut Off Points (details are issued by Revenue, and can be sourced by Payroll Matters if requested).
USC Status of employee – Normal, 70 year old or over, Medical Card Holder (details can be checked by Payroll Matters if requested).
Determine correct PRSI Class (A/B/C/D/H/J/K/S) Type 1 or 2 – PRSI Class will determine how much PRSI (Social Insurance) will be charged for example Class A1 is liable for 4% social Insurance. Assistance in determining the correct class will be provided by Payroll Matters.
Income/Payment Details – Value of payments to be paid to employees, (ie Salary, Holiday Pay, Overtime Rates, etc).
Voluntary Deductions – Value of deductions to be deducted from an employee’s pay (ie VHI, Union, Pension, etc)
Benefit In Kind (BIK) – determine if there are any BIK liabilities, (ie Company Cars, Vans, etc).
Step 3 – Payroll Details for the period
Hours Worked (Basic, Overtime) – Hours to be used to determine the employee’s salary or wage
Time Off (Holiday Pay, unpaid leave) – Leave to be recorded and paid (if required)
Miscellaneous Payments (Sick Pay, Maternity/Illness Benefits) – process one-off or infrequent payments and determine the appropriate TAX/PRSI and Income Levy charges.
Expenses (Taxable/Non-taxable) – Pay Expenses and ensure proper details have been recorded and documented (e.g. mileage expenses with the required mileage log book).
Deductions (Gross/Net) – Deduct any regular or irregular deductions such as pensions, loans, etc.
Starters & Leavers – document and process new starters or leavers, file the required forms with Revenue and issues P45’s etc., to the leaving employees.
Step 4 – Reports (Suggested for Client/Employer Review)
Control Summary – Company level analysis of the periodic payroll information (how much money has been paid out by the company and where it went!)
Gross Pay Analysis – Payments made per employee and the related employee deductions
Audit Trail – record of changes and amendments made to the payroll by Payroll Matters on behalf of the client
Step 5 – Payment
Process Bank Payments, or Printing and Issuing of Cheques – Providing details on how much an employee is to be paid.
Creation of Paypath File and Related reports – transmission of details on behalf of client to the bank (optional).
Payslips, Posted and/or Emailed – provide payslips to staff and employer.
Issuing of P45’ and USC Certs for Leavers and process and file the relevant details with Revenue.
Step 6 – End of Month
Filing of monthly returns via P30 or ROS (Revenue On Line Service)
Step 7- End of Year
Filing of Returns via P35 or ROS
Issuing of P60’s and USC Certs to all staff
End of Year Review and Payroll Audit of payroll, looking at costs and planning for known changes in the next year.