Cutting out accountant

poulton39

Hi,

I run a small business and we're struggling on the finance side a little. We can pay our part-time staff fortnightly - which is when they're supposed to be paid - but our payroll hasn't been uploaded to Revenue in a year.

I can save us a lot of money by not going through the accountant for payroll and uploading them myself, but I'm wondering if it's realistic and possible to do this myself.

We can pay Revenue for submissions over the past 12 months, but we can't pay Revenue AND an accountant to upload them.

Thanks!

Jim2007

Well the question is, if you are struggling to pay down your debts as they fall due, are you solvent? Because if not there are legal consequeces for continuing to trade beyond that point.

Mr. Happy

Hi,

I assume here you mean can you do wages and / or accounts (to a point) without expensive accountant bills.

Wages, yes absolutely realistic, in fact it’s relatively simple these days given software available & connections to Revenue online. I do the wages for 2 companies we own. I have been using Thesaurus Payroll Manager for years. You can find them here. https://www.thesaurus.ie/

You setup each employees details & then connect to Revenue for all their allowance. Backup after every run, submit your return through the application & then before deadline in following month just login to ros.ie to pay the taxes.

From an accounting perspective I use surf accounts (or whatever it is called lately). Connect to bank accounts online, upload all transactions in journals using excel templates. Not as simple as wages obviously but then I can complete to trial balance with P&L. It more than halves a our accountants bill every year. There is work in it for sure but we can see the management accounts at any point so that’s an important value add.

I hope this helps you.

Mr. H

Pistachio19

I use Surf Payroll (Brightpay) and its very simple to do your own payroll. Its about 20 euro per month incl VAT.

CWMMC

https://www.boards.ie/discussion/2058340144/cutting-out-accountant

If the payroll hasn't been uploaded in a year, who has been preparing the payslips?

CramCycle

https://www.boards.ie/discussion/comment/121879996#Comment_121879996

This was my first question, there maybe outstanding debts to revenue as is.

As for the accountant side of things, payroll, provided it is a small company is fairly simple for the most part and ROS will tell you how much you owe in regards employer PRSI if you don't trust your numbers.

If you are not good at keeping on top if things though I would get payroll software but if you are reasonably prompt and mildly OK with record keeping, it is easy enough to do yourself.

duffysfarm

Sorry to hear your business is struggling but if you dont see any value in an accountant then you are probably doing the accountant a favour by doing it yourself.

ThreeGreens

Payroll is not all that difficult to do, if you know how. But if you don't, you'll need some help to get started.

One big issue you're going to face is that if it's not been uploaded for a year, then it's going to be difficult to do for 2023, as Revenue won't issue RPNs (which you need) for last year.

I suggest that you talk to your acocuntant about resolving the situation and ask if they can train you to do it yourself. Obviously there will be a cost, but it's once off.

Calahonda52

https://www.boards.ie/discussion/2058340144/cutting-out-accountant

Where is the money deducted from the wages due to Revenue?

If you have it and it has not been sent to Revenue then the accountant is the least of your worries

The other issue have your staff not been getting SW credit for any PRSI payments, deemed or real?

heretothere

Have you been paying your employees taxes to Revenue?

Payroll isn't too hard, just with part-time employees be sure to remember to check if they are entitled to bank holiday pay (for b.holidays they don't usually work) and keep a track of their hours so you can work out holidays