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Providing payroll services for a recruitment company

Monday, February 21st, 2011

It is now possible for recruitment companies to get a full payroll services that works in conjunction with a factoring facility. The following provides a recent case study whereby we were able to add value to a recruitment company to obtain the most appropriate funding.

Spend less time chasing payment and more time chasing business. A temporary recruitment company needing working capital to manage the gap between paying staff and receiving payments from its clients. XL Factoring sourced a factoring facility that provided 100% funding against unpaid invoices.

Not only did the facility provide working capital but it also provided credit control and payroll services. The credit control provided a full invoice and collection service whereby the customer only had to provide time sheets leaving the finance company to prepare invoices, monitor and chase payments. The payroll service handled the calculation of wages, generation of wages slips payments of NI and PAYE as well as year end payroll, sick pay and maternity records.

XL Business Finance has been helping businesses for over 10 years provide the most appropriate funding solution. Factoring is still a fast growing funding area of finance and in our opinion can be obtained via much better alternatives to the high street banks.

 
 
 

XL Business Finance Ltd is a privately owned and independent business financing company with established links to many of the UK's leading finance houses. XL Business Finance provides a viable alternative to high street banks that lack the flexibility and imagination to provide a solution to most business users requirements. XL Business Finance can provide a full range of business financing solutions and we ensure a high level of customer service and pride ourselves on quick decisions. Our independent status will ensure any offer of funding and asset finance leasing is best suited to our customer’s needs.

XL Business Finance, Eaton Place Business Centre, 114 Washway Road, Sale, Cheshire M33 7RF UK.

 

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