Young and growing Recruitment Agencies may not have the time, expertise or indeed inclination to manage their workers payroll. In addition the cashflow of a growing recruitment business is notoriously difficult to manage and the last thing a recruiter wants is their workers being paid late or worse, not at all.
We have a panel of funders who can overcome these two concerns allowing you to do what you do best – Recruit!
Our partners provide the complete service for recruitment companies which includes; PAYROLL, INVOICING, COLLECTIONS, FINANCE and CREDIT INSURANCE (Optional). They can help you to manage your tax and keep you up to date on legislation; they also provide detailed management reports so you can keep track of how your business is performing.
Predictable and guaranteed cashflow is essential to growing recruitment companies.
Our panel of funders provide finance to pay temps and to provide you with working capital to grow the business. Receive up to 90% of the invoice value including VAT (the remaining 10% gets paid to you when your customer pays). If you are already factoring your invoices then they can take over the existing factoring facility.
It is important to ensure Invoices are raised correctly to ensure prompt payment. Our partners raise invoices on behalf of their clients using their own company headed paper and VAT number.
Invoicing options include:
• Preparing invoices from weekly timesheets or data
• Mailing invoices
• Analysis of VAT for VAT returns
We understand the importance of ensuring that your workers get paid correctly and on time. Whether it is for permanent staff, temporary PAYE workers or self-employed contractors we can arrange the solution that best fits your business.
• Set up, amend and delete employee records
• Running of the payroll to calculate gross pay, deductions and net pay
• Security payslips
• Production of standard reports
• Production of P45’s
• Payment of employees by BACS
• Ensure compliance with payroll legislation
• Help Desk & advice from fully qualified payroll advisors
Credit control is all about consistency. Regular and polite contact gets results. Our partners allocate a specialist credit controller to look after your clients and under your guidance we manage the credit control for your business;
• Send statements
• Send reminder letters
• Chase payments by telephone
• Take legal action if necessary
You pay a fixed single fee which is charged as a percentage of the value of your invoices. This means that you can budget easily, and simply calculate your net margin after charges are applied. The fee will depend on the size of your business and the workload that the funder will undertake.
Contact us to get the funding and support you need for your business.