Advice for all business owners, no matter what way you’re handling this:
Have all your employees register on MyAccount on Revenue Online. Go to www.revenue.ie, click on MyAccount on the right hand side of the screen and click on Register. MyAccount is where employees will see their up-to-date tax situation, what they’ve been paid and what tax has been deducted from them. It’s also very useful for married couples being jointly assessed and it’s excellent for people with more than 1 job. The system assists you in allocating your tax credits in the most tax efficient way between spouses and amongst your different employments.
For businesses that want to take charge of this themselves and do their own payroll:
Make sure you get the right payroll software and training. We can help you with choosing the right payroll software for your business and train you on how to use it. If you are feeling overwhelmed with this whole process and are not very tech savvy then we can recommend a good bookkeeper in your area to train and assist you until you feel confident to do it on your own. You can reach us on 064 663 2112 or email@example.com
For businesses that are already doing their own payroll:
I’m sure you’ve already heard from your payroll software provider. A question I would ask them is: will the software provide a seamless integration with Revenue Online Service (ROS). What I mean by seamless is that the software will communicate directly with ROS without you having to first log-in to ROS and download your employee’s RPNs and then go back into your payroll software and upload them. With a seamless integration the payroll software will automatically pull this information live from the ROS site.
There are two excellent payroll software offerings from a company here in Kerry, they are based in Lixnaw and have been in the payroll software business for over 14 years. They have a desktop software called Payback that you download to your computer but they also have a cloud based offering called Cloudpay that you can operate from any internet connected computer meaning it’s also Mac compatible. You can find them at www.payback.ie or www.cloudpay.ie
For businesses that are outsourcing their payroll function to an accountant or bookkeeper:
Make sure you have discussed how this is going to work with your accountant. You need to identify how you’re going to communicate the information to them on your employees, including when new employees start, when an employee leaves and the hours or days worked for each pay period. You will also need to find out the cost because your accounting fees for payroll are likely to go up.