Young and growing recruitment businesses may not have the time, expertise or indeed inclination to manage their workers payroll. In addition the payroll finance requirements of a growing recruitment business are notoriously difficult to manage and the last thing a recruiter wants is their workers being paid late.
PayFactory was developed to overcome these two concerns and more, and allow recruiters to do what they do best - Recruit!
PayFactory provides the complete service for recruitment companies and includes; PAYROLL, INVOICING, COLLECTIONS, FINANCE and CREDIT INSURANCE (Optional).
We also help you to manage your tax and keep you up to date on legislation; we provide detailed management reports to enable proper scrutiny and quality control for your business.
How does it work?
We understand the importance of ensuring that your workers get paid correctly and on time.
Whether it is for Permanent Staff, temporary PAYE workers or self-employed contractors, we will provide the solution that best fits your business.
Set up, amendment and deletion of employee records
Running of the payroll to calculate Gross Pay, deductions and Net Pay
Production of standard reports
Production of P45s
Payment of employees by BACS
Compliance with payroll legislation
Help Desk and advice from fully qualified payroll advisors
We raise invoices on behalf of our clients using their own company-headed paper and VAT number.
Invoicing options include:
Preparing invoices from weekly timesheets or data
Calling down monies to cover payments to workers
Analysis of VAT for VAT return
Under your guidance we manage the credit control for your business;
Send reminder letters
Chase payments by telephone
Take legal action if necessary
We provide payroll finance to pay temps and to provide you with working capital to grow your business.
We can advance up to 100% of the value of your invoices on the day that they are raised.
We charge a single fee which is charged as a percentage of the invoice to the client. This means that costs are transparent and simple to calculate. As the charge is a proportion of the gross invoice value, it also means that it is simple to calculate net margins for temps. ..and to make it even clearer we can do the margin calculations as well.
Payroll & Recruitment Online Management (PROM)
PayFactory is managed through our web-based system (PROM) to ensure that our clients and their temporary workers get paid on time. This is a secure online system designed to simplify and streamline payroll delivery and let us concentrate on the details. Click on the PROM page and view the video for more detals.
If you would like to talk to us about PayFactory and how we can help you, please call us directly on 01908 268888 or if you would like a detailed quotation, please complete our Get a Quote page.