5 Brightpay Benefits and How It Works
Are you still using spreadsheets to track your employees’ payroll? Here is a faster and more efficient way of doing it…
Processing payroll can now be quicker and more efficient than ever before with the numerous benefits that Brightpay has to offer.
Brightpay offers easy and modern software design which makes the PAYE process more efficient for both employees and employers.
Not only that, what makes Brightpay so popular, for us at least, is that it links to our preferred bookkeeping MTD compliant platform Xero.
Another plus point to using Brightpay is that it’s fully HMRC recognised. This makes the payroll process that much quicker.
It also handles full auto-enrollment functionality that links to pension providers, which make releasing contributions as simple as clicking a button.
Continue reading to learn more about how Brightpay works and its key benefits…
How does Brightpay work?
Brightpay is a software that allows you to run your payroll easily and quickly, giving you access to regular updates from HMRC.
It also ensures that you can run all the reports that you’ll need to submit. Such as any PAYE, CIS, and other wages related figures, or third parties such as your employees, including the HMRC.
Key Benefits Of Brightpay
Some of the benefits which we’ll discuss in this article include how Brightpay integrates with other software, how easy Brightpay is to use with pension providers, the availability of HMRC tax codes via the software, and how you can claim employment allowances.
For example, some other key benefits to using Brightpay (especially within COVID) are the use and submission of coronavirus job retention scheme (CJRS) forms.
These forms provide you with the information needed to submit a furlough claim.
It also calculates 80% of furlough on your payroll, among other adjustments needed to deliver payroll with the everchanging government guidelines on furlough.
Keep reading to learn more Brightpay benefits…
1. App Integrations
Another great benefit to using Brightpay is that it allows for other Apps such as Xero to be directly connected within the software.
This means that all of your payments, whether that’s employment or pension etc, can be monitored and tracked live within MTD compliant software such as Xero.
Brightpay also has API integrations with a range of pension software. It also allows you to send payroll information straight from the application into your accounting software – so that you can automatically account for salary costs, pensions, and employers NI etc.
2. Direct Submissions
Direct submissions can be made to HMRC through FPS’s. This is a simple and easy use feature of Brightpay, which means amendments to HMRC can be made in a simple and efficient way.
SPP/SMP/SSP can all be submitted through EPS’s on bright pay so that nothing on your payroll gets missed.
3. Ease Of Use For Professionals And Business Owners
The payroll entry in Brightpay gives you access to making comments to the employer so you can communicate through the software. For more information, please see the information on Brightpay connect for employers.
Brightpay also has an App that can be downloaded to your mobile phone so you can have access to your payslips on the go.
For employers and employees, there is a separate outlook which is easy to follow. These ‘outlooks’ give you slightly different access to each account, so data can be made private, leaving sensitive information out of the picture.
4. Tax Code Availability
Being able to access your tax codes at the click of a button has made life easier for thousands of people who use Brightpay.
Having your tax codes ready to hand, at any moment, allows you to keep your payment records up to date.
For example, waiting for the HMRC to update or send out tax codes in the post can cause a delay in updating employee payments. If you use Brightpay, you’ll be able to update your employees (or anyone’s) tax codes immediately as it’s connected to the HMRC.
5. Employment Allowances
The employment allowance is a relief of up to £4000 introduced by HMRC that allows employers with a PAYE scheme to offset £4000 worth of Employers NI per financial year.
In Brightpay you have the functionality to make a claim at the ‘click of a button’.
Furthermore, you can also claim this in any month and the payroll software will automatically calculate when you have used all or as much of the allowance as you can.
To learn more about Brightpay, you can do so here at their website.
You need to make sure that your employees are paid on time and accurately as there is nothing worse than having an employee paid the wrong amount or not paid in time. It can lead to wasted time, demotivation or even moving team members.
To read some tips on how to get the most out of your Brightpay, click here.