Managing a payroll isn’t simply delivering employee salaries. It’s a lengthy process of managing payroll calculations, payroll tax statements, year-end taxes, and more.
Payroll management is a complex task and one that requires complete focus and dedication. Staff need to be paid on time but, with pay based around employee type, status, salary, wages and deductions, it’s important for systems to be in order so you don’t lose track.
Similarly, there are many varying factors to consider. From pay scales, employee classifications, and promotions to employee terminations, payroll can be time-consuming – and there is no room for error. After all, staff want to be paid accurately and without delay. Constant mistakes can create negative company morale and this should be avoided
Challenges of managing payrolls for a business
Whether you’re a small scale business or a large enterprise, payroll management can create several barriers between you, your employees and the state policies. If you self-manage this crucial task you will face these challenges:
✔ Issues with Tax Compliance
✔ Wasted time and resource
✔ You might face financial loss due to employee turnover
✔ Mismanagement will lead to workplace conflicts
✔ Assisting in obtaining work and residence permits
✔ Low team satisfaction will lead to poor quality of work
As an approved organisation with years of experience managing payrolls, A&C CHRISTOFI LTD can take these challenges for you and ensure these barriers are removed. We pave the path towards your business’ success with intention.
Leave your Payroll Management to us – We do it right
At A & C CHRISTOFI LTD, we offer a fully-managed payroll service, always following the Inland Revenue and the Department of Social Security rules. This means you can enjoy fully compliant services that will free you up to focus on other important aspects of business that need your energy and focus.
We offer a multi-pronged approach to payroll. Services include:
✔ Maintaining the details of a company’s employees
✔ Calculating and making payments and deductions to the employees and the Authorities
✔ Preparing tax returns
✔ Keeping up-to-date with regulations and guidelines affecting expatriate employees
✔ Consulting on taxation issues regarding expatriate employees
✔ Assisting in obtaining work and residence permits
✔ Liaising with the income tax authorities and the Department of Social Security
✔ Preparation of the ‘Statement of Emoluments and Contributions’ and submission to the Social Insurance Department
✔ Preparation and submission of P.A.Y.E. returns
✔ Using the latest technology, we’ll ensure your payroll is fully functioning and adjusted in real-time so that all information is up-to-date.
✔ Working with professionals will save your time
✔ Your employee data will be secure
✔ We skilfully manage government compliance
✔ As a full-service finance firm we offer more than just payroll services
✔ We make the process stress-free and organised
✔ Improved employee retention rate
✔ Better team performance and motivation
✔ Reduced employee turnover
