In the fast-paced world of business, adaptability and preparedness are crucial. In today’s unpredictable landscape, having a contingency plan in place can make all the difference. One often-overlooked aspect of contingency planning is payroll outsourcing, a strategy that can save your business from operational disruptions in times of crisis. In this blog post, we will delve into the benefits of contingency payroll outsourcing and why it’s a smart move for businesses. What is the contingency you gain from payroll outsourcing? Before we dive into the advantages, let us clarify what contingenc ..read more

A payroll service is an outsourcing payroll solution that helps your business manage your payroll more efficiently. It automates the process of calculating employee salaries, taxes, and deductions, as well as issuing payslips, filing returns, and making secure on-time payments to your employees and third parties (if required). Payroll services are becoming increasingly popular due to the benefits they offer, such as reduced paperwork, improved accuracy, enhanced reporting, and efficiency in managing data. Using a payroll service can provide numerous benefits for your business, regardless of ..read more

When you receive your payslip from your employer, it will contain certain information. Understanding what each piece of information means can help you manage your finances and ensure that you’re being paid correctly. Here’s what you should expect to see on your payslip: Gross pay: This is the total amount of money you earned before any deductions were made. It includes your regular pay as well as any bonuses or overtime you may have received. Net pay: This is the amount of money you take home after all deductions have been made. It’s also known as your “take-home pay.” Deductions ..read more

Switching to an outsourced payroll provider can be a daunting task, but with the right preparation and implementation plan, it can be a smooth transition. In this article, we will discuss the best practices for creating a successful transition plan when outsourcing your business processes. We will also cover how to effectively communicate with your employees during the transition process and explain why parallel testing is important for ensuring a successful implementation. What makes a difficult payroll transition successful? A successful payroll transition is imperative to an organisation ..read more

The Irish Government introduced gender pay gap reporting legislation called the Gender Pay Gap Information Act in 2021. The Act applies to organisations with over 250 employees to publish information on their gender pay gap annually. It also includes provisions for reporting on bonuses, benefits in kind, and part-time employees. The reporting requirement will initially apply to organisations with 250 or more employees. It will extend over time to organisations with as little as 50 or more employees: +250 employees: 2022 +150 employees: 2024 +50 employees: 2025 It’s only the beginning o ..read more

Unlocking Business Efficiency: Understanding Payroll Services and Their Benefits A payroll service is an outsourcing payroll solution that helps your business manage your payroll more efficiently. It automates the process of calculating employee salaries, taxes, and deductions, as well as issuing payslips, filing tax returns, and making secure on-time payments to your employees and third parties (if required). Payroll services are becoming increasingly popular due to the benefits they offer, such as reduced paperwork, improved accuracy, and efficiency in managing payrolls, and access to real ..read more

Reading an Irish payslip can seem complicated at first, but with some understanding of the various components, it becomes easier. The first part of the Irish payslip is a section which lists the employee’s details, including name, PPS number, tax status details and how you were paid, e.g., via bank transfer (or other means like a cheque). The second part of the payslip is usually split in three to show your earnings, deductions and overall balance & YTD (Year-To-Date) information. Here’s an explanation on all the sections: Personal Information: At the top of your payslip, you’ll ty ..read more

Auto-Enrolment is the term used to describe a government-backed scheme which requires employers to automatically enrol their employees into an occupational pension scheme. This plan is for employees who are not already in an occupational pension scheme, and will ensure that they have a retirement income when they reach the age of 65. The Irish Government has approved the details of a new pension auto-enrolment scheme which is expected to be introduced in 2024. This scheme will allow individuals to save for retirement without having to actively enrol in a pension plan. It will also ensur ..read more

Understanding Statutory Sick Pay (SSP) In Ireland, Statutory Sick Pay (SSP) is a legal right that entitles employees to be paid while they are on sick leave from work. This right was introduced in January 2023 and has been in place since then. It provides financial security to employees who are unable to work due to illness or injury. SSP is paid by employers and is subject to certain conditions such as the employee having worked at least 13 weeks with your employer before you can get statutory sick pay. The entitlement to paid sick leave is being phased in over 4 years: 2023 – 3 da ..read more

Expense tracking can be time-consuming, tedious and prone to errors. Fortunately, with the help of expense tracking tools, managing and recording expenses has become much easier. These tools allow users to upload images of receipts and enter details manually, making it easier than ever to accurately store all their expenses in one place. This makes it easier for users to keep track of their finances and make data-driven decisions about their spending habits. The Receipts Tracker at Revenue.ie is a great tool for keeping track of your expenses and receipts. It allows you to securely stor ..read more