A Company is there to support how you trade and process. In the end, it is the entity that invoices your Agency customers and to whom Contractors are attached for payroll, but it is much more than that.
Whether you need a company for each legal entity, each income stream or offering; or if you have 100 unique tax reference companies, client companies, PSC’s or any other reason for a company setup; the functions are there to support your needs and configure your company/s. There are no limitation on the number of companies that can be setup.
In general terms the Company sets the tone for calculation and processing. The Company is initially set as either an Umbrella, a PSC or Other (to cover CIS and PAYE). From there you configure how you want it to process and calculate. You could have a PAYE company with expense relief, an Umbrella company with limited Holiday Pay or an Umbrella with Split Holiday Pay. The system doesn’t prescribe a setup, the system enables you to create setups that match your processing needs.
Beyond that, you can configure your Company to use a specific payslip layout; to present different landing page messages and logos to Agency or Contractor portal users; to be known as something else on payslips and portals; to send different email messages for payslips, P60’s, login details or letters; to use its own invoice number sequence; to define a choice for a default BACS layout; to choose a Levy percentage and many other options. Throughout the system, you can limit reports, viewable listings and other features by Company, supporting efficient processing. The system offers the ability to bulk change multiple fields (banks, addresses, payslip types, social media setups and more) and process options to support changes and updates to your external offerings.