At My Digital Accounts we offer an all in one solution for Umbrella Companies, and the beating heart of this for any Umbrella is the payroll functionality. MDA offers innovative, market leading features and functionality with a wide variety of payroll models developed by a team with years of industry experience who understand intimately how a modern umbrella company operate.
Our Key Features Include:
Variety of models
We offer the ability to run a wide range of umbrella payrolls models and variations including (but not limited to) CIS, Self-Employed as PAYE, pay-Between-Assignments, accrued holiday pay; all with a fully customisable margin structure.
Timesheet Upload/Manual timesheet
We offer our Timesheet Definition facility which allows a user to create a custom template to match an agencies timesheet file, making it quick and easy to upload the whole file into the system and create all the timesheets in one go. For individual timesheets, these can also be created manually, and both methods will also create your invoices as part of the process.
With My Digital Accounts, you can still invoice an agency to ensure your contractor gets paid even before the contractor is fully set up. You can choose to create a “Ghost” to use a temporary assignment record to send an invoice to the agency, which can mean the funds are received before payday to make sure the contractor is paid on time when their set-up is complete.
We have an easy to use module for advance payments that allows you to keep track of the advances that have been and set a customisable repayment schedule to ensure you are retrieving your funds back on each payroll.
Payroll W/O Invoice
The ability to run payrolls without the need of generating an invoice, for instance if you are making a statutory payment, a holiday pay-out or a pension refund.
Fully Integrated Bank Matching
Credit control, and managing the vast amount of incoming and outgoing funds has never been easier with our integrated banking. The instant an invoice is matched, this updates
throughout the software meaning any on a “pay-when-paid” basis can be released for payroll in real-time without inaccuracy or multisystem delay.