| Payroll Software Strengths | | | | payroll figures to then be entered and filed |
| | | | online for employers to both avoid late |
| An essential feature of the payroll solution | | | | penalties and receive the online tax free |
| is the inclusion of an employee details | | | | bonus available. |
| worksheet in which simple details are entered | | | | |
| for each employee such as name and address, | | | | The DIY Accounting Payroll Software is easily |
| income tax code, national insurance number | | | | integrated into the DIY Accounting Software |
| and relevant dates which satisfies the | | | | solutions for both self employed and limited |
| requirements of small businesses operating a | | | | companies when the payroll software files are |
| paye scheme. The payroll software then uses | | | | saved in the same folder as the accounting |
| these details particularly of income tax code | | | | files providing a complete accountancy |
| and national insurance dates to calculate the | | | | solution for clients. |
| income tax and national insurance deductions. | | | | |
| Once the employee details have been entered | | | | Payroll Software Weaknesses |
| running a paye system couldnt be easier. | | | | |
| | | | The DIY Accounting payroll system does not |
| The payroll software pre-enters each | | | | deal with income tax K codes. The income tax |
| employees name on the payroll each week or | | | | code K is used infrequently being applicable |
| month and simply entering the employee gross | | | | to those employees whose taxable expenses |
| pay triggers the payroll to automatically | | | | exceed the income tax allowance and is often |
| calculate income tax and national insurance | | | | never seen by most employers. |
| contributions including the employers | | | | |
| national insurance contribution using the | | | | Employer statutory sick pay and maternity |
| standard income tax and national insurance | | | | leave require to be entered manually. A small |
| tables which are embedded within the files | | | | price to pay since the statutory payments are |
| supplied with the payroll software system. | | | | not frequent and easily looked up on the |
| | | | employers CD-Rom as required. |
| Having calculated the net pay the payroll | | | | |
| software then goes that extra step and | | | | The quoted package sizes of 5 employees, 10 |
| automatically completes the time consuming | | | | employees and 20 employees include all |
| paye deduction sheets, all arranged in the | | | | employees during the year including new |
| same appearance as the official inland | | | | starters and leavers and it is important then |
| revenue deductions sheet for recording income | | | | to obtain a package likely to be in excess of |
| tax and national insurance deductions. In | | | | the total number of expected employees to |
| addition also included in the employee paye | | | | avoid changing the payroll solution during |
| section are copies of the employee P60 | | | | the financial year. |
| certificate, P45 if required and the P14 | | | | |
| which is a summary of the pay, income tax and | | | | Pricing |
| national insurance contributions made by each | | | | |
| employee. This feature of the payroll | | | | At £14.99 the small business payroll |
| software is extremely valuable in saving | | | | software for up to 5 employees including |
| employers using the small business payroll | | | | starters and leavers is almost a giveaway |
| solution a great deal of time in paye | | | | price with many competitive products priced |
| administration. | | | | much higher. The 10 employee payroll version |
| | | | is £19.99 and the 20 employee payroll |
| Many payroll software systems require the | | | | version just £24.99. Considering the |
| purchase of payslip stationery. The DIY | | | | paye administrative work the payroll systems |
| Accounting payroll software is different in | | | | save. The packages are not upgraded each year |
| this respect. First of all the payslips are | | | | with employers purchasing the new package |
| all generated automatically from the | | | | each financial year. |
| information in the payroll file which shows | | | | |
| the weekly or monthly gross and net pay, | | | | Conclusion |
| income tax and national insurance and the | | | | |
| gross numbers to date. The Payslips all | | | | Exceptionally good value, the payroll system |
| preset on payslip templates can be printed at | | | | is very quick and easy to use and produces |
| any time on normal A4 copy paper being | | | | exactly what every employer requires from a |
| another money saving feature of the paye | | | | small business payroll solution. Accurate |
| solution. | | | | income tax and national insurance |
| | | | contribution calculations, significant |
| The income tax and national insurance | | | | reduction in paye administration time, |
| deducted throughout the financial year are | | | | regular payslips for each employee, |
| automatically collected by the payroll | | | | compliance with paye administrative |
| software on an excel copy of the Employers | | | | requirements and the satisfaction and |
| Annual return, the P35. An excel copy in the | | | | valuable tax free bonus prize of producing |
| same format as the inland revenue form which | | | | the payroll on time. |
| can be simply printed out enabling the | | | | |