We excel in developing intelligent business funding solutions to improve future cash flow, profits growth and business expansion.
As a business funding broker, we provide free, impartial advice to businesses that want to benefit from a plethora of business funding knowledge, know-how and expertise.
Working with you, we use our entrepreneurial and financial skills to understand your funding needs and then we work with our high street banks and specialist lenders to put your tailored finances into place for you.
Recruitment finance is a specialist type of invoice finance specifically designed for the recruitment industry, combining the benefits of invoice finance with administrative support to help you manage your payroll. With the administrative and financial burden of recruitment agency management taken care of you are free to do what you do best – growing your business so it can reach its full potential.
With recruitment finance, the bank will provide you with an online payroll facility into which you submit your timesheets. The bank will then raise invoices and provide up to 100% of the invoice amount (minus fees and PAYE reserves if applicable) and use that money to pay your workers, with the remaining amount (your gross profit) sent to your bank account. The bank will also deal with your credit control.
• Input your worker timesheets into their payroll software
• Run the payroll to calculate worker gross pay, deductions and net pay
• Pay your workers and send their payslips to them
• Raise and send sales invoices on your letterhead to your customers
• Calculate and pay your gross margin to you (sales invoices less costs)
• Credit control your customers and process their payments
• Calculate and pay your due PAYE and National Insurance
• Complete and submit year end returns such as P35 and P60 forms
• Keep you compliant with relevant legal and regulatory requirements
Your business could be suitable for Recruitment Finance if it is a recruitment agency offering credit terms and you want to outsource your back office administration and time sheet management.
For a free no obligation quote, please call us on 01242 250000, or fill out the form at the top of this page and we will contact you. We are a broker, not a lender so you will receive quality impartial advice from us.
Company Finances Ltd
Business Finance Broker
Tel: 01242 250 000