Payroll

Payroll Services Monaghan

Managing your payroll can be time-consuming and complex. We understand the importance of efficient and accurate payroll processing for businesses in Monaghan.We offer a comprehensive payroll service that takes the burden off your shoulders, ensuring compliance with Revenue regulations and delivering timely payments to your employees.

Payroll Text Label on White Binder Folder

Our Payroll services include:

  • Accurate Calculations: Our experienced payroll specialists handle all your weekly payroll calculations, including:
    • Gross Pay: We factor in salaries, wages, overtime, bonuses, commissions, and any applicable notional pay.
    • Tax Withholding: We calculate and withhold the appropriate amount of income tax (PAYE) based on each employee’s tax band and tax credits.
    • Social Insurance Contributions: We ensure accurate deductions for Universal Social Charge (USC) and Pay Related Social Insurance (PRSI) based on employee classifications and earnings.
  • Timely Filings and Reporting: We take care of the following on a weekly basis:
    • Revenue Submissions: We electronically file your complete payroll with Revenue, ensuring all necessary information is reported accurately and on time.
    • Payslip Distribution: Your employees receive their payslips promptly, detailing their gross pay, deductions, and net pay for each pay period.
    • Enhanced Reporting: We fulfill the recent Enhanced Reporting requirement mandated by Revenue, providing them with additional details about your payroll data.
  • Seamless Tax-Free Payment Management: Did you know certain employee benefits like travel allowances, subsistence payments, and small gift vouchers can be tax-free? We handle the filing of these weekly tax-free payments for your employees, ensuring they receive the full benefit.

Monthly and Annual Tasks Covered:In addition to our weekly services, we also handle the following:

  • Monthly PAYE (Pay As You Earn) Payments: We ensure timely payments of PAYE deductions to Revenue on a monthly basis.
  • Annual Returns: We complete and file your annual payroll returns to Revenue.
  • Year-End Employment Detail Summaries: We provide your employees with their Employment Detail Summaries (formerly P60s) at the end of the tax year, outlining their annual earnings and tax deductions.

To ensure a smooth payroll process, we require the following information from you:

  • Employee Details: 

Names, PPSNs (Personal Public Service Numbers), start/end dates (if applicable), and employment identifiers (if applicable).

  • Pay Details: 

Gross pay, overtime, bonuses, commissions, and pension contributions (if applicable).

Benefits of Using O’Doherty Agnew & Co Ltd for Your Payroll Needs:

  • Streamlined Process: 

We free up your valuable time and resources by handling all aspects of your payroll.

  • Accuracy and Compliance: 

Our experienced team ensures your payroll is processed accurately and adheres to Revenue regulations.

  • Timely Payments: 

Your employees receive their payslips and payments on time, every time.

  • Reduced Risk: 

We minimise your risk of penalties for non-compliance with payroll regulations.

Focus on running your business, and leave your payroll to our experts.

At O’Doherty Agnew & Co Ltd in Monaghan, we take the burden of payroll processing off your shoulders, allowing you to dedicate your valuable time and energy to core business activities that drive growth.

Contact us today for a free consultation to discuss your specific payroll needs. We’ll answer any questions you may have and demonstrate how our efficient, reliable, and compliant payroll service can streamline your operations and give you peace of mind.

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Frequently Asked Questions about Payroll Services in Monaghan

Is a payroll service necessary for my small business in Monaghan?

While not essential for every business, payroll services can be incredibly beneficial, especially for those in Monaghan, Carrickmacross, Castleblayney, Clones, and Ballybay. Managing payroll involves complex calculations, tax deductions, and regular filings with Revenue.  A qualified payroll service provider can ensure accuracy, save you time, and minimise the risk of penalties for non-compliance.

What are the benefits of using a local Monaghan payroll service?

Local payroll providers like O’Doherty Agnew & Co Ltd understand the specific tax regulations and nuances relevant to businesses in Monaghan and surrounding areas. This local knowledge can be invaluable when ensuring your payroll adheres to Revenue requirements and maximises potential tax benefits.

What if I have employees living outside of Ireland?

Payroll services can handle the complexities of paying employees who reside outside of Ireland. They can ensure the proper taxes and social security contributions are withheld and remitted to the appropriate authorities.

How much does a payroll service typically cost in Monaghan?

Payroll service fees can vary depending on the number of employees you have, the frequency of payroll processing, and the complexity of your needs.  O’Doherty Agnew & Co Ltd offers competitive rates and can provide a personalised quote based on your specific situation.

What information do I need to provide for my payroll to be processed?

To ensure a smooth payroll process, you’ll typically need to provide basic employee details like names, PPSNs (Personal Public Service Numbers), start/end dates (if applicable), and employment identifiers. Additionally, you’ll need to provide details on employee pay like gross wages, overtime, bonuses, commissions, and any applicable pension contributions.