Sep 2017
27
What do you mean…. “Do I have a backup?”
One of the most common calls I get on the support line is from a distressed customer who tells me they have lost their payroll information. Reasons for the loss of this information are varied and could be anything from a laptop being stolen, a virus attacking the computer, holding files to ransom or fire or water damage to the computers in the office.
The first question I’ll ask on a call of this type will be “do you have a backup?”. Honestly, I can’t tell you the number of people that say “No” to this. People are also mistakenly under the impression that we have a copy of their payroll data. Unfortunately this is never the case, we do not have access to the employer’s payroll information so this can add to the customer's stress levels as you can imagine!
We would always stress the importance of taking a backup of your payroll information. You would have your computers and office equipment insured against anything happening so why would you not do the same for your data? Think of your backup as your information’s insurance policy, after all it is almost irreplaceable or at the very least a major inconvenience to try and rebuild your payroll.
In a lot of cases, the call to our customer support line comes too late for us to be of any real assistance and the only advice we have to give is to start over and process payroll from the beginning again.
We never think anything like this will happen to us, but take it from me, it does, so go ahead and take out that insurance policy and backup before it is too late!
The following links will guide you to taking a backup in your software or book a demo of Thesaurus Connect our latest cloud add on that offers an automated online backup feature :
BrightPay UK: https://www.brightpay.co.uk/docs/17-18/backing-up-restoring-your-payroll/
BrightPay Ireland: https://www.brightpay.ie/docs/2017/backing-up-restoring-data-files/backing-up-your-payroll-data/
Thesaurus Payroll Manager: https://www.thesaurus.ie/docs/2017/processing-payroll/backup-data-files/
Sep 2017
26
New Automatic Enrolment Pension System to be in place by 2021?
With better living standards and expanding economy, it is without doubt that Irish people are now living longer and we have a much healthier society. At the same time, we need to face the fact that with the Irish population inevitably getting older, there is the prospect that senior citizens will have to stay in employment long after they have passed retirement age. It is therefore absolutely vital to address the funding of the Irish pension system now if we want our pensioners to be well-protected in the future.
To tackle this issue, Brian Hayes MEP has called on Minister for Social Protection Regina Doherty to start work on the introduction of an automatic enrolment pension system, whereby all Irish private sector employees would be automatically enrolled into a pension scheme. As Mr Hayes stated, "a road map needs to be put in place for the introduction of an auto-enrolment system for all Irish businesses. The Cabinet needs to make it a priority to ensure that auto-enrolment is put into Irish Law by 2021. This is something that can be done through cross-party agreement."
In 2012, the UK introduced an automatic enrolment system which is working well and providing long-term sustainability. Automatic enrolment systems have also been introduced in Australia and New Zealand, and similar systems exist in the Netherlands, Sweden and Denmark. These countries are recognised as world leaders in pensions.
Mr Hayes has suggested that Ireland should create its own system, whereby every employee will be automatically enrolled into a pension scheme, into which they should contribute at least 1 per cent of their monthly salary, to be matched by their employer.
Mr Hayes also added, “In Ireland we are far too dependent on our state pension system. We have a very low take up of workplace pension schemes. Less than 40% of Irish workers are covered by a workplace pension scheme. The best way to deal with both of these problems is through an auto-enrolment system which reduces dependency on the state system and ensures people have additional pension pots built up.”
A recent global study called the ‘Melbourne Mercer Global Pension Index’ has stated that Ireland's pension system is good but has serious sustainability problems into the future. Elsewhere, Mercer's report found that Ireland will increasingly struggle to afford the provision of a guaranteed pension for everyone, if the current pension system isn’t addressed.
Sep 2017
22
Public Holiday Pay Entitlement
There can often be some confusion surrounding an employee's entitlement to pay for a public holiday particularly where the employee may be part-time or the public holiday falls on a day that the employee does not normally work.
It is also worth noting that not every bank holiday is a public holiday though in most cases they coincide. Good Friday is a bank holiday but it is not a public holiday. The following dates are the official public holidays in Ireland.
- New Year's Day (1 January)
- St. Patrick's Day (17 March)
- Easter Monday
- First Monday in May, June, August
- Last Monday in October
- Christmas Day (25 December)
- St. Stephen's Day (26 December)
Employees who qualify for public holiday benefit will be entitled to one of the following:
- A paid day off on the public holiday
- An additional day of annual leave
- An additional day's pay
- A paid day off within a month of the public holiday
So, who is entitled to a payment?
- Part-time employees qualify for public holiday entitlement if they have worked at least 40 hours in the 5 weeks ending the day before the public holiday.
- Full time employees are not required to have worked up a minimum number of hours.
How to calculate the amount to be paid?
If the public holiday falls on a day which the employee would normally work:
- Full-time employees are entitled to one of the above four options at the employer’s discretion.
- Part-time employees have the same entitlement, so where the employee’s pay is a fixed amount the normal daily rate can be used. If the pay varies, the daily rate should be calculated over the 13 weeks immediately before the public holiday in question.
If the public holiday falls on a day which the employee does not normally work:
Further information can be found at Organisation of Working Time Act 1997.
Sep 2017
18
Long Service Awards - Appreciation to staff
Have you employees with 20 plus years of service? If so why not say thank you with a gift.
Revenue Commissioners offer tax relief on long service awards, which is considered to be at least 20 years of service. Tax relief on long service awards can be in addition to the small benefit exemption.
Employers can reward employees for long service with tangible articles with a value up to a maximum of €50 per year of service, starting at 20 years of service and every 5 years thereafter.
- 20 years of service – value up to €1,000
- 25 years of service – value up to €1,250
- 30 years of service – value up to €1,500
- 35 years of service – value up to €1,750
The award must be a tangible article e.g. a gold watch, it does not apply to awards made in cash.
Tax will not be charged provided:
• The cost to the employer does not exceed €50 per year of service
• The award is made in respect of service not less than 20 years
• No similar award has been made to the recipient within the previous 5 years
Where any of the conditions are not met PAYE, PRSI & USC must be applied on the full amount.
Details can be found on Revenue's website
New PAYE Modernisation legislation to be in place by Jan 2019
Sep 2017
11
Key Features you need to know about Thesaurus Connect
Thesaurus Connect is our latest cloud add-on that works alongside Thesaurus Payroll Manager. Automatically store payroll information in the cloud and enable online access anywhere, anytime for payroll bureaus, employers and employees. You’ll be up and running in seconds.
Secure online Backup
- Automatically synchronise and backup data to the cloud protecting against ransomware and cyber attacks.
Bureau / Client Dashboard
- Online access to clients’ payroll information.
- Invite clients to their own online dashboard which can be branded with your bureau’s logo.
- Clients can access payslips, payroll reports, annual leave requests, amounts due to Revenue and employee documents.
Employer Dashboard
- Online access to your payroll information.
- Invite your accountant to instantly access your payroll data 24/7.
- Access all employees payslips, payroll reports, annual leave requests, amounts due to Revenue, and employee documents.
Employee Self Service Portal
- Invite employees to their own online portal.
- Employees can view and download payslips, P60’s and P45’s.
- Easily submit holiday requests.
HR & Annual Leave Management
- View all upcoming leave in the new online company wide calendar.
- Authorise leave requests to update the calendar.
- Upload HR documents including employee contracts and handbooks.
Book a demo today to see how Thesaurus Connect can meet your payroll processing.
