Revolut Links Payroll With Business Banking Accounts – Cryptovibes.com – Daily Cryptocurrency and FX News
https://ift.tt/meTpswN
Revolut’s ambition to offer a one-stop shop for business banking services has been given a boost with the introduction of integrated payroll management software.
Using that software, pay runs, salary, National Insurance, taxes, and pension contributions are well-calculated for Revolut Business clients and neatly rolled up into one easy-to-use app. An automated onboarding process means that the feature can be set up with only a few clicks in the Revolut Business app.
Payroll offers the business owners flexibility to make real-time salary adjustments, like awarding bonuses, including benefits, and adjusting deductions, for people and teams across their business.
Synced with HMRC daily, Payroll automatically updates employee details with all necessary changes to employee tax codes, student loans, and a lot more, reducing the long back-and-forth between HMRC and Revolut Business clients.
The head of Revolut Business, James Gibson, stated:
“For many businesses, processing payroll can mean juggling multiple software and moving data between them – it can be extremely tedious and time-consuming with manual activity that often leaves greater room for error. Knowing SMEs can waste between 1-3 days each month on manual review and reconciliation, we’re thrilled to launch Payroll and provide UK Business customers with a handy, all-in-one solution that seamlessly integrates Payroll into their Revolut Business accounts.”
Introduced at first in the United Kingdom, Payroll is valued at £3 per active employee every month.
Cryptocurrency
