According to research unveiled in a university whitepaper an average of 4.5 hours are spent per payroll run on auto enrolment per calendar month.
If you weigh up everything that’s involved in the process surrounding the changes in the workplace pension you can understand why it’s considered such a time consuming task.
Alongside doing the books, employers are also required to nominate a contact, know their staging date and develop a plan, assess their workforce, review their pension arrangement, communicate the changes to all workers, automatically enrol eligible jobholders into a pension scheme, register with The Pensions Regulator before finally making a contribution to their workers’ pensions.
The KashFlow AE Suite is included as part of KashFlow Payroll and designed to take the hassle out of what can be an arduous task.
Below, we’ve rounded up the top five ways that the KashFlow AE suite streamlines the auto enrolment process.
- Automation equals innovation
Once you have configured your staging date, pension providers and postponement dates, payroll and auto enrolment processing occurs automatically every payroll run, all whilst keeping you compliant.
- The entire payroll process is simplified
Running your payroll process manually or through a middleware company is nearly impossible for weekly payrolls and very complicated during monthly payrolls. The KashFlow AE suite saves time and money with a much shorter process. It will run payroll and assessment at the same time but it also generates workplace pension communications and sends data to the pension company.
- Automatic payslips sent and viewed at the touch of a button
E-payslips are instant, simple to publish and to view but are also an environmentally paperless solution.
- Superior to 3rd Party applications in almost every way
Not only does KashFlow offer configurable postponement, auto enrolment communications about the workplace pension and electronic payslips within the software, but users can also benefit from bitesize webinars that we run on auto enrolment and the KashFlow payroll software itself. Keep an eye on the KashFlow events page to sign up and further your AE and general bookkeeping knowledge.
- Keeps you compliant, helps you avoid nasty fines
If an employer fails to comply with auto enrolment regulations, the pension regulator will typically issue a warning and a fine of £400. Where the employer continues to break the regulations, there will be a fine for each day, with the penalty increasing until the company complies. If you choose to do your auto enrolment through the KashFlow AE suite you’ll avoid such hefty fines.
If you’re staging soon and seeking a time saving auto enrolment solution that works in tandem with your payroll then sign up for the KashFlow Payroll software and see how easy AE can and should be.
For a free no-obligation 1-2-1 demo just call the KashFlow on boarding team on 0844 815 5779.