Bank Account
Keeping track of your expenses is part of being a business owner. You probably heard it said that you need a separate business bank account in addition to your personal bank account. In any case, you won’t not be acquainted with a finance account. What is a payroll account, and would it be advisable for you to think about opening one for your business?
What is a payroll account?
A payroll account is a separate bank account for your business that is strictly used for employee’s payroll, PSN pays employee wages in employee’s bank account.
The money going into the payroll account will only be used for payroll. For example, they cannot write cheques from payroll account they can only withdraw the salary amount.
Benefits of a payroll account
ORGANIZED
SECURE
CONSISTENT
ACCURATE
With a payroll bank account, PSN employees’ wages and salaries are more organized.
We facilitate our employees by opening Employees Payroll bank account to maintain a standard and overcome on wasting time during disburse the salary so in a result your production will not get effect and employees don’t get worry about salaries and they focus on the job because they know that the salary will transfer in their account on time.
PSN secures their employees by not giving them cash in hand because we want our employees to be in safe zone when it comes to giving them salary. So, we consider transferring salary in bank account of employees is the safest and secure way and they can withdraw the salaries from any ATM machines near to area according to their time and schedule.
More of it giving salary in cash to employees make them uncomfortable because they also want to save money and utilize it according to their needs. And they also want to be secure from snatching, losing or any other kind of problem related to cash.
Transferring salary in bank account giving them an edge to use salary effectively.
PSN focus on consistency in opening new employees bank account as soon as possible if any of the employee lose ATM card we apply for the new ATM card and keep them updated and provide the card on time.
PSN always focus on managing employees bank account opening list and update the list if there is new hiring.
If in case the salary is transferred in the bank account of employee and employee has lost the ATM or PIN code so we acknowledge bank by giving them written letter to give him or her salary in cash upon our request.
PSN team are very accurate in terms of transferring salary in bank account of employees through regularly maintaining the list of bank opening accounts. So, we have the list of employees those have bank accounts and on cash.
