BACS payroll service
As an approved BACS bureau, the BACS service is primarily used for processing payroll and the basic weekly process is quite simple:
- On Monday we receive the payroll data by phone, fax, post, text or voicemail.
- On Tuesday we process the payroll and send the reports to you for checking.
- On Wednesday we send the payment file electronically to BACS.
- On Thursday BACS process the transaction, and the instructions become irrevocable.
- On Friday, the money leaves your account and is paid into the employees account*.
* If the employee is with a bank or building society that is not a member of BACS then it can take a few days longer for the money to be credited; but that is the case with cheques at the present time.
The monthly process is exactly the same as the above, with the same timelines.
Other BACS services
There is almost no limit to the bank transactions that we can initiate through the BACS system:
- We can make payments to suppliers on your behalf through BACS.
- We can collect standing orders from customers.
- We can collect direct debits on you behalf from customers.
- We can collect single payments from customers.
In all these cases, we can help you design the paperwork and procedures to ensure that the money is collected on time, every time, and that you know imediately if any receipts bounce or are cancelled.
All with the peace of mind given with the BACS guarantee.