Eximious Global provides payroll and accountancy outsourcing services to a range of private and public companies including recruitment agencies across the UK. We are the biggest reason for drastic reductions in finance and accounting operations’ costs with a customized solution by transforming and restructuring the way our clients’ finance departments operate. We help to reduce cost and complexity, improve cash flow, simplify regulatory compliance and deliver improved transparency and control over the system. Our F&A teams are trained to UK standards and work to pre-defined KPIs to deliver the agreed cost savings and efficient services. To maintain perfection and error-free delivery, we hire experienced resources and more than 85% of Eximious staff have worked in the UK Industry previously and have hands-on experience in the UK working environment.
Constantly changing government regulations and filing requirements make payroll processing one of the most complex and time-consuming parts of work for businesses in the UK.
With experience in handling payroll for some of the leading players in the industry, Eximious helps companies pay their people on time, manage compliance and gain actionable information through customized reports. All this while reducing costs by up to 40-50% and enhancing payroll process management competence
We follow the process which gives us the power of delivering the best to the clients since from Transition to reporting and Analysis
A. Process Transition
- Client consultation and on-site/online visit for understanding requirements by officials
- Parallel payroll run (For the first phase of 1-2 months) for aggravation-free transition
- Horizontal migration of payroll software
- Company Management Accounts
- Company Year End Returns
- Credit Control
- Personal Tax Returns
- Bookkeeping & VAT
- Updating information in the Payroll system for P45/P46 details and issuing P45 for leavers
- Setup of Starters and Leavers on the system
- Processing timesheets
- Processing of statutory payments like SSP, SMP, SPP, etc.
- Processing holiday pay, overtime, commission, bonus, mileage, and more
- Processing payroll deductions like the attachment of earnings, court orders, etc.
- Generation of payslips
- Dealing with payroll related queries for consultants/locums, including attending phone calls
- Umbrella referral commission invoices
- Year-end process – issue P11, P11D, P60, etc.
C. Reporting & Analysis
- Timely RTI & FPS submission & year-end processing
- Running BACS report
- Correspondence with HMRC, filing of PAYE and NIC returns on behalf of clients
- Downloading and updating of P6 and P9 tax notifications
- Gross margin report
- Credit and reissue report
- Daybooks to Credit Control and Finance departments
- Pension setup and processing deductions and payments on payroll software
- In-house developed PMS (Payroll Management System) to deal with document management
Accounts Payable & Receivable
Your accounts payable process has an enormous influence on your cash flow, regulatory compliance, and supplier relationships. Many companies struggle with manual data entry of paper-based documents, leading to costly incongruities and ineptitudes.
Eximious will deliver higher accuracy and reduced operations cost through process excellence, standardized accounts payable (AP) and account receivable (AR) practices, and strategic use of computerization. By introducing proficiency to your processes, we help you advance your management of working capital and enhance the visibility of your financial liabilities.
Through our services, your organization will be able to feat new avenues of cost savings, strengthen compliance and controls, and build smoother supplier relationships.
Leveraging best practices, industry expertise, and computerization, we deliver less expensive and more effective accounts receivable and payable services. You get dedicated resources and teams under your control that understand your business processes, assimilate your data from various channels and deliver timely collection for cash inflows.
With clear performance benchmarks and SLAs, our services warrant that you improve liquidity while plummeting operating costs.
Augmenting cash flow and eluding bad debts are two significant objectives of any efficacious business. Setting up a good credit control system is the starting point for both. Credit control, unlike other processes, is a puzzle of various elements of other processes and is often a distress on in-house accounting teams.
At Eximious Global, we emphasize on making sure that you get paid punctually by adhering to credit control unsurpassed practices and process excellence. Also, we certify that our services would aid you to build sturdier customer relationships.
We understand that business organizations have a sole approach to credit control. Before beginning the project, we work with you to regulate a chasing plan, with clear rules for credit limit and regularity of reminders through dunning letters, emails, fax, and calls. Well-defined service level agreements (SLAs) and performance metrics ensure that you receive real and measurable cost reductions along with improved credit control efficiency.
Some of the largest recruitment and healthcare firms in the UK have improved cash assortments and saved significantly on processing costs through our services. Any organization that wants to optimize cash flow and condenses bad debts through an efficient credit control system will benefit by working with Eximious Global.
The accounting and taxation laws in the UK observes major changes every year, making statutory compliance a multifaceted, backbreaking and time-consuming activity. Our services make it easy for your business to stay on the right side of the constantly embryonic regulations.
As a UK-based company, we bring extensive local knowledge to the table. We assist your in-house team’s reporting and documentation requirements by maintaining precise records, providing support and supplying data during audit and inspections.
- Accurate accounting for input and output VAT including VAT return preparation
- EC Sales List (ESL) submission
- Timely payment of PAYE/NI liability
- Liaising with HMRC for Notices and solving queries and providing support/evidence/working notes for any queries raised
- Liaising with auditors in the UK to assist them in solving queries and providing support/evidence/working notes for any queries raised by them
- Pre-invoice check
- Post invoice verification
- Chasing via telephone, email or fax
- Update remittance advice and receipts from bank statement
- Cash allocations
- Debt collection against previous Aged Debtors’ report
- Liaise with legal & compliance department for legal action
- Invoices not yet approved
- Invoices under query
- For payments promised
- Dunning letters and statements
- Credit control MIS reports
- Aged Debtors report with last month comparison and commentary
- Collection by age of the debtor
- Debtors’ report with comments on debtors older than 60 days and 90+ days
- Debtors’ ledger review
- Suspected debtors – “Debtors can’t pay” and “Debtors wouldn’t pay” analysis
- Reports for Debtors “On Stop”, Debtors for “Legal actions”, Debtors for “Recommencement”