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Moneysoft

Is Moneysoft's Payroll Manager and Money Manager bookkeeping software the right fit for your business?

For businesses looking to expand from the basic, free HMRC payroll software, Moneysoft can offer a solution. Moneysoft is a great option for business owners and payroll staff looking for payroll software that can manage their needs.

The provider offers two pieces of software – both designed to help your business manage your incomings and outgoings.

The first, Payroll Manager, is an HMRC (Her Majesty’s Revenue and Customs) recognised RTI (Real Time Information) compliant payroll software package. This by thousands of small and medium businesses, accountants, contractors and others across the UK.

Second is Money Manager, a simple and effective bookkeeping software, with 100,000+ users across the UK and worldwide.

Used in a variety of contexts, including small businesses, clubs and schools, Money Manager gives users the ability to track their incomings and outgoings in an efficient and easily manageable way.


Contents

On this page, you will find information on the following:

What is payroll software and why will my business benefit?

Many will know the ins and outs of payroll software, and the reasons to invest. Others, however, including those new to business, will be unaware. As a result, it is useful to explain these reasons and be clear.

Businesses use payroll software to accurately manage their various ingoings/outgoings.

These include employee payments, invoices, various outgoings and other relevant aspects of payroll.

Payroll software automates this process, streamlines it, and stores it online, securely. This reduces the risk of any incorrect transactions or translations of data.

Business owners, or accountants, perhaps like yourself, can then redirect resources to other areas of your business.

Human errors are expected when working with large amounts of finely tuned data. This is unlike an automated, electronic system, that will save your business time and money from errors.

Cheque

Payroll software will have many functions, such as tax form generation, processing direct deposits, automatic calculation of withholdings and deductions and more.

When using payroll software, however, these tasks will take up a much lesser amount of time and attention, reducing manual errors and improving productivity.

There are actually varying types of payroll software – for more information, take a look at our small business payroll services page to ensure you find the right solution for your business.

In addition, the HMRC RTI process has, effectively, made running payroll manually a very difficult task.

RTI requires that your business sends information to HMRC every time you run payroll, with all data having to be sent electronically, using an RTI compatible payroll system. Evidently, if your business is yet to invest in an electronic payroll system, now is a good time.


Moneysoft Payroll Manager

The following sections will give more information on the Payroll manager, including:

And other features, including:

  • CIS (Construction Industry Scheme)
  • Workplace pensions and auto enrolment
  • Payroll Manager costs
  • Simple to use

    Moneysoft’s Payroll Manager software is be easy to use by design. This is clear through features such as intuitive data input, and easy to edit mistakes. Keeping your software updated is simple, with auto-updates from the website. This ensures that your business will stay in line with current legislation.

    The software has a built-in help system, and your subscription comes with unlimited email support. As a result, help will be close at hand if you need come across any problems.

    There is the ability to view a complete year’s pay history at a glance – allowing you to print reports for any period of time. In addition, the main screen displays information for the full year.

    This means that you can move across the full year between various pay periods with ease, and print payslips and reports for previous weeks and months.

    Employees joining midway through the tax year are not a problem, either. The mid-year start screen allows you to enter the year-to-date figures for clients you take on in this period with ease.


    Packed with features

    Moneysoft’s payroll software comes with a huge amount of features, all to make your day to day payroll requirements more efficient and simple:

    • RTI filing
    • Employee payslips
    • Comprehensive reporting with email capabilities
    • Automatic calculation of various types of pay, including maternity (SMP), paternity (OSPP), ASPP and adoption (SAP) pay, employers NIC allowance and more
    • Extra features for agents and accountants, construction scheme (CIS) contractors (LINK) and P11d expenses
    • RTI batch processor in all multi company versions of the Payroll manager

    There are also various extra features that are there to help you process multiple client payrolls, including:

    • The ability to produce payslips in various layouts and formats (to PDF, pre-printed forms, plain paper and more)
    • Fee calculation and agent invoicing facilities

    CIS (Construction Industry Scheme)

    Moneysoft’s payroll manager enables you to process payments for CIS subcontractors efficient and simple, including:

    • Automatic CIS calculations and subcontractor verification – as well as monthly CIS 300 submissions online to HMRC
    • Online subtractor verification – simply enter the details of a subcontractor into the software to be presented with the corresponding verification number and tax status from HMRC
    • CIS 300 monthly returns – Moneysoft’s Payroll manager will automatically calculate all deductions made, reporting these to HMRC by each month’s end
    • Payment certificates, reporting and invoicing – the software can print Payment Certificates for all subcontractors and can be used to prove subcontractor invoices when needed
    • Detailed analysis – Various reports allow for detailed analysis of retentions, subs, CITB levy payments, fees, insurance and holiday pay

    The majority of industry sectors will find that Moneysoft covers their needs, but it is especially suited to the construction sector, due to the various extra features for use within the CIS.

    If you are not sure what the CIS is, or how it affects your business, visit the goverment web page to find out more.


    Payroll software for workplace pensions and auto enrolment

    By October 2018, all employers will have to offer employees a new Workplace Pension scheme. All versions of Payroll Manager come with features to aid your business with the Auto Enrolment process for free.

    The software has been closely developed with The Pensions Regulator. This is to help employers comply with new workplace pensions legislation.

    Payroll Manager has the ability to communicate directly with NEST (National Employment Savings Trust), as well as produce output files for most of the key pension providers, including (but not limited to) the following:

    • NOW:Pensions
    • Aegon
    • The People’s Pension
    • AME
    • Aviva
    • Beaufort Consulting
    • Carey Pensions
    • Corpad
    • Creative Pension Trust
    • And many more

    Visit the government website for more information on auto-enrolment and workplace pensions.


    Payroll manager costs

    Payroll Manager is avaliable to businesses in 3 seperate versions, primarily based on the number of companies and employees that you wish to process the payroll for.

    The prices featured are for an annual license, and includes all updates and unlimited email support.

    VersionEmployer limitEmployee limitPrice
    Payroll Manager 20For 1 employer/contractorUp to 20 employees/subcontractors£65 per year + VAT
    Payroll Manager 100Multi-company – no limit to number of employersUp to 100 employees/subcontractors per employer£130 per year + VAT
    Payroll Manager 250Multi-company – no limit to number of employersUp to 250 employees/subcontractors per employer

    £195 per year + VAT

    It is important to note that the license runs 12 months from the date of purchase and all employee limits include leavers during the tax year.


    Moneymanager bookkeeping software

    A separate offering from Moneysoft is their simple and effective bookkeeping software, Moneymanager, with over 100,000 users across the UK and worldwide.

    The platform’s ease of use and flexibility make it a great option for a variety of applications, including:

    • Schools
    • Churches
    • Consultants
    • Home accounts
    • Small businesses

    Moneymanager has been used by clients since 1984 in its various iterations, with Moneymanager 7 releasing in 2011. The platform is available in two versions:

    • Money Manager Business Edition
    • Money Manager Personal Edition

    Money Manager Business Edition

    The Business Edition of Moneysoft’s Money Manager platform is designed for small (and other, slightly larger) businesses and firms. This also includes individuals who would like an extended accounting facility for their bookkeeping.

    The platform caters for VAT, and this includes the online-filing of VAT returns each quarter, various currencies, credit sales and purchases and more.

    Money Manager Personal Edition

    The Personal Edition of the Money Manager software is designed with private individuals, clubs and smaller businesses in mind, allowing them to keep track of their income and expenditure.

    If you find your needs changing, and think that the Business Edition would be more suitable for you, all data from the Personal Edition can be used with the Business edition, meaning you can upgrade from one to the other as required.

    Money Manager costs

    VersionFeaturePrice
    Money Manager 7 Business EditionNo limit to number of companies£65 per year + VAT
    Money Manager 7 Personal EditionFor personal accounts£45 + VAT

    Compare Payroll software quotes and save

    Hopefully, this page has given you the information to help you decide whether Moneysoft is right for you.

    To receive several tailored quotes for payroll options for your business, fill in the form on this page. We can then put you in touch with the right suppliers who can give you the information you need.

    Besides Moneysoft, there are of course other payroll software options for your business. To see other available options, view our page on the various payroll service providers for your business.

    Doing so can save you both time and money, and provide a solution that is a suitable fit for your business.

    Compare Payroll Services & Save Up To 40%!

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