Payroll Accountants

Payroll accounting is the process of filing and tracking employee compensation data like money withheld for pay checks, taxes, and other benefits each employee receives. Accountants use journal entries to record an organization’s transactions and total cash flow. Payroll entries fall under the scope of a general ledger that sorts all financial information. Once all payroll information is documented on an employee, human resources can use this data for performance evaluation, etc.

Payroll accountants record all relevant financial information of the employees of a company. Primarily their ledgers include information on:

Gross wages, salaries, bonuses, and commissions

Withheld employer and employee taxes

Withheld salary, insurance premiums, and savings plans

Employer and employee fringe benefits

Lanop Accountants eliminates the need to search for an all-encompassing accountancy firm. Our skilled tax and finance professionals work diligently to make your life simpler by reducing financial stress and making business models more lucrative and efficient in accordance with up-to-date regulations.

Affordable Cost

Quality of Work

Why do You Need a Payroll Accountant?

Time spent on the tiresome process of payroll, whether it is a limited company, a partnership, a landlord, a contractor, or a family business, will be better spent on expanding sales and market share. Lanop helps eliminate the tedious task of calculating and filing your own payroll taxes. You also get rid of clerical errors. Local and national taxes are always changing; we ensure you comply with regulations while you get to focus on the bigger picture.

What do Payroll Accountants Do?

Payroll accountants record all relevant financial information of the employees of a company. Primarily their ledgers include information on:

Gross wages, salaries, bonuses, and commissions
Withheld employer and employee taxes
Withheld salary, insurance premiums, and savings plans
Employer and employee fringe benefits

How to process payroll in Xero?

Set up payroll in Xero under “Payroll” > “Get Started” and enter company and employee details.
Add employee information like name, contact, tax code, and bank details.
Create a new pay run at “Payroll” > “Pay Runs” > “Create” with the pay period and payment date.
Input hours, earnings, deductions, and taxes for employees.
Review and adjust pay run details as needed.

Finalize the pay run and process payments directly or via integrated payment providers.
Provide pay slips to employees and access payroll reports. Xero automates payroll tasks for efficiency.

What is a payroll management system?

A payroll management system is a comprehensive software or process used by employers to handle and manage employee wages and salaries. It involves calculating and processing payroll, generating paychecks, handling deductions, taxes, and benefits, and keeping accurate records of financial transactions related to employee compensation. The system ensures compliance with legal and regulatory requirements, maintains employee satisfaction, and provides financial transparency for the organization.

Lanop: Your Best Resource for Payroll Accounting in the UK

Lanop Accountants eliminates the need to search for an all-encompassing accountancy firm. Our corporate headquarters in Putney, London, provide practical and efficient solutions to all your accounting needs.

Our skilled tax and finance professionals work diligently to make your life simpler by reducing financial stress and making business models more lucrative and efficient in accordance with up-to-date regulations.

Sole traders are individuals who own and operate their businesses. Managing finances and paying taxes are among their responsibilities, as well as finding customers and offering products and services. Keeping track of one’s finances can be difficult for sole traders due to the day-to-day responsibilities of their businesses.

WHAT CLIENT SAYS

About Us

     Excellent  
     Based on 102 reviews 
    
 
 
   
 
 
        
   Steven George-Hilley 
 2022-08-09
 
 
  Our accountancy partners from the very beginning. A great team that tailors its services around the needs of the client, always available for advice, whenever its needed. Love working with them.
  
 
       
   Asfand tahir 
 2022-07-01
 
 
  I really don’t know where to start from i can not explain my happiness into words  i can try but for sure there must be so many praises remains at the end
Thanks indeed indeed Zaib And Lanop all team you guys are amazing i would say if I didn’t have you guys i would have been failed in many things All credit to Lanop what a brilliant firm
Lanop Its all about you
Zaib And Rehmat Thanks indeed you have done amazing job due to your work i have got my Tier 1 extension application successful within 47 days I can’t believe that i am so happy what a job you did I would advise Everyone come to Lanop for 100% guaranteed success in your immigration matters and all other accounting purposes Trust me, When name comes to success and successful it means Zaib.
Big thanks to Rehmat What a team i had they are so lovely i disturbed them alot but they answered me every time For all my enquiries
Rehmat the legend thanks indeed no words for you words are far behind, can’t explain you in words
Rehmat and Tahir sorry I disturbed you alot and indeed you still helped every time. Rehmat is Very very professional the way he works I don’t think anyone does that way in entire country.
Sidra Thanks alot for amazing help indeed You are amazing I dont know how to say how much i am happy from your work as well
Kainat you too thanks alot
Rehmat all credit goes to you thanks alot without your help I won’t be able to write all this today
I am so grateful to you all
What a team. Make sure guys you join Lanop without wasting anytime.
Lanop Accountants ZINDABAD
  
 
       
   jas singh 
 2022-01-10
 
 
  I have been a client of Lanop Accountants for the last 4 years and am extremely happy with their services. Zaib and his entire team is extremely professional and dedicated; they always respond swiftly and take personal interest in the business case. I have special words of praise for Rehmat and Waqar as they both helped me in my visa extension process immensely. Zaib has built a team of dedicated professionals and the work ethics speaks volumes about their firm. I would definitely recommend them!
  
 
       
   Vinnit Patel 
 2021-12-03
 
 
  Very professional services, extremely pleased with the advice and work carried out on our accounts.
  
 
       
   László Kohányi 
 2021-10-12
 
 
  I like their flexible approach. I had a bunch of small problems what was too little to big firms but too big for me.

They explained the process, fees etc and solved my troubles.

Price wise also been on the better side.

Personally I recommend Rehmat. He is super responsive.
  
 
       
   Alexey 
 2021-05-18
 
 
  Having been a client of Lanop Accountants for nearly 5 years, can't recommend them highly enough. Great professional team working 24/7 to meet every customers's need.
  
 
       
   Eda Kendirli 
 2021-05-04
 
 
  Best and accurate service. Saved me so much time and money.
  
 
       
   Femi Yusoof 
 2021-01-29
 
 
  I have been using Lanop Accountants for more than 3 years, and could not recommend them more highly to any one starting out in business or established business practice. Their professionalism, promptness and excellent customer service makes them in my opinion second to none.
  
 
       
   JN 
 2021-01-22
 
 
  I used Lanop accountants to file some paperwork with HMRC as a non-dom resident. I’ve been very happy and impressed with their work so far. Zaib has been very knowledgeable and helpful. I recommend them and plan to use them again.

Meet Our Experts

Our team consists of skilled and experienced accountants and financial advisors. These professionals are able to assist individuals, entrepreneurs, business partners, and larger ventures with their financial and accountancy acumen.

Waleed Nawaz

Payroll Manager

Auto-Enrolment & Pension

Lanop’s payroll advisers assist you with in-depth information to understand how you can manage your current pension scheme or set up a new qualifying pension scheme. Auto-enrolment need not be arduous, and our consultants will guide you through every step of the process in real time to help you understand and prepare auto-enrolments for your employees.

Statutory Compliance

Our chartered accountants will take care of all your HMRC compliance needs. Preparing and filing with relevant government departments (whether it is HMRC VAT, Payroll, corporation tax, or income tax department). Companies House is also kept up to date with legalities and compliances relevant to your business.

Bookkeeping

With Lanop’s team of skilled bookkeepers, you can focus entirely on building your business by letting us handle all tedious record keeping of income, expenditure, bank reconciliations, VAT, and PAYE on state-of-the-art cloud-based software coupled with smart technology applications. 

HMRC Investigation

All types of tax investigations are handled at Lanop. Our expert chartered accountants offer competent advice on subjects such as COP 8 (Tax Avoidance), COP 9 (Suspected Serious Fraud), HMRC Nudge Letter, Disclosure Facilities, fraud, VAT, and PAYE investigations.

Tax Planning

Lanop’s wide knowledge of industry-specific tax reliefs and in-depth counselling on tax saving and investment planning for individuals and corporations make us your true friend when planning for taxes. Give us a call. We will make your life easier.

Blogs

August 14, 2023 Payroll

Payroll Services for Your UK Business: A Comprehensive…

Managing payroll is a critical aspect of running a successful…

October 13, 2023 Partnerships | Payroll | Sole traders

What is the Significance of a P11D form?

What is a P11D form? A P11D form copy is…

Get In touch

0208-392-9375

Address: 389 Upper Richmond Rd, London SW15 5QL, United Kingdom.

Email: inquiries@lanop.co.uk

Our Services

Our Industries

Our Services

Our Industries

Payroll Accountants