Most large companies use BACS to make salary payments directly into
employees’ bank accounts. Automating payroll services through the BACS
Payment Scheme, originally known as Banker’s Automated Clearing
Services, gives companies the means to ensure fast, timeous payment of
salaries electronically. If you are a small or medium enterprise, you
may be considering moving your payroll services onto the BACS direct
credit service in order to increase efficiency and lower your carbon
footprint. SMEs using manual payroll systems are using resources that
could otherwise be invested in core business functions. There are more
efficient payroll solutions, including contracting payroll out to a BACS
Bureau.
Why use a bureau? Well if you are an SME, your turnover may not be high,
you may not meet all the criteria for direct payment through BACS and
you may only need to service a small payroll. You need to obtain a BACS
user number from your bank and once your account has been set up by your
service provider, you prepare payroll data on the forms provided and
transmit this to your payment service provider by the day it is due to
be processed. You can transmit your payroll data in spreadsheet or csv
file format, or it can be faxed if necessary. The service provider will
send the details to BACS on your behalf, a checklist is sent to you for
authorisation and you can make amendments or add new employees if
necessary. Payments are made directly into accounts and payslips are
generated which can either be posted or emailed to employees.
Find the right payroll company for your needs and the benefits will
speak for themselves. Moorepay Limited is a commercial BACS approved
bureau providing secure, internet-based payment services. We specialise
in providing payroll services to SMEs and, as the first computer bureau
in the UK, have over forty years experience of payment services
provision.