Archive for January, 2011

Has Your Payroll Been Done Correctly?

Monday, January 31st, 2011

There was a recent announcement in the news that the UK government somehow have managed to ‘lose’ or cannot account for around £1.3 billion pounds of National Insurance contributions that people have paid in!! This is very worrying.

You see, when you’re doing bookkeeping, you’re relying on the paper trail…. And if the submissions coming are incomplete e.g. the name says D Brown … and the National Insurance number is missing… then you have nothing but problems, and the payment will get put into the suspense account – never to be seen or heard of again…. That is, until D Brown comes to retire, and is told that she hasn’t paid in enough contributions.

Or she goes to claim benefits e.g. Housing or Council Tax – and they tell her that they’ve no record of her on the system. As long as she can dig out a few payslips, and a few p60s, she’ll be able to prove that she has:

a) indeed been working and

b) has paid (a lot) into ‘the system’.

Who is doing your payroll? Is it accurate? Complete? So many businesses shove this responsibility to ‘the office manager’ and then in years to come – anything can go wrong. It’s not just people who are sometimes accused of never paying anything into the system… sometimes, businesses receive the same accusation – and again, if you’re not making payments to the right place, or providing any reference, or have no proof about what has gone in…. you’re just storing up problems for the future.

Get in a reputable company like Boogles to do your payroll or outsource your payroll to a payroll and bookkeeping company like Boogles – who can ensure that your accounts will reconcile, you’re records will be accurate – and you’re payments won’t end up in the suspense account – unacknowledged. Check out our payroll prices and payroll service at: http://www.booglesltd.com/Payroll.html