Cardiff based accountants Graham Paul is advising local businesses to be aware of important changes taking place to existing payroll submission services.

The firm of accountants and business advisers has recently assisted a number of clients with the BACS transfer between BACSTEL and the new BACSTEL – IP. However, many companies are not aware they need to register for the new service as soon as possible, before their package ceases to operate at the end of the year.

The new BACSTEL-IP service is the first phase of the BACS development programme. This is a technology renewal programme aimed at improving the services that BACS offers to customers.

John Squire, partner at Graham Paul comments: “BACS is a hugely popular payroll system for many businesses of all sizes, and the new system should result in even greater efficiency. However, many people are not aware they need to contact their sponsoring banks to register for the new service. Acting now will ensure you are up and running before the December deadline.”

BACS member banks are supporting the programme, which will affect all users of BACS. It will replace the current BACSTEL service and will offer an updated way of accessing BACS electronic funds processing services, in addition to a number of new developments and services.

All customers using the current BACSTEL service will need to migrate from it by December 2005.

The key benefits will include access via an internet or extranet connection for technology users, enhanced security, improved tracking and reporting ability, and more control over data.

For more information contact contact John Squire at Graham Paul on 01656 679800.