Facing Pay Day Woes Due To Unbanked Payees? Worry Not.

Set Up A Cashless Payroll With Yo! in 2023

Doing business in Uganda will sometimes require you to pay workers in cash. A common reason for this, is a situation where the worker does not have a bank account. Contract workers like casual labourers also tend to prefer being paid immediately after they finish a job. Companies buying produce particularly from non-commercial farmers will also encounter the need to make several cash payouts.

Casual workers prefer to be paid immediately after they supply services.

Even when paying workers in cash, laws regarding benefits and compensation should be adhered to. The business will still need to keep good records of all payments made and time worked. In addition, and crucially, payroll taxes must continue to be deducted and sent in to the tax authority whenever payments are made.

Yo! Uganda’s bulk payments product eases the process for businesses of all sizes doing their payroll. Some of the unique features of the system are as follows:

• Detailed, downloadable reports enable companies to fulfill their paper trail requirements and store hard-copy records of transactions.

• Maker-checker methodology; This ensures proper checking and authorization of transactions prior to payments. This differentiates between individuals in the organization who can initiate the transaction and those who can authorize it.
• Easy setup: It is simple for both the employer and the employee to set up and use.
• Reminders: Set up a reminder to initiate your payroll process every month. Forget about the panic that results when payroll is due and you had forgotten to fund your account.

Keep good records of payroll transactions

Yo! Payments supports businesses that want to pay workers via direct mobile money deposits. You can pay all your workers in seconds, and still have all your detailed records kept. This solution also works well for salaried employees.

How to Set Up Your Cashless Payroll With Yo! in 2023.

You may follow our simple instructions in order to set up your payroll. However, our Yo! Uganda sales and support team is ready and happy to set this up with you.

1. Confirm your pay period and pay schedule
2. Upload your list of employees to our Verification System. This system will confirm that the telephone numbers of the employees are correct, to avoid wrong payments.
3. Once verified, click “Transfer to Beneficiary Database” to create a database of your employees on the system.
4. Now create a Bulk Payment and select all employees to be paid from the Beneficiary Database that you created and enter the amounts to pay.
5. Continue to confirm payment.

Yo! Payments has transformed the way your customers pay you. It is now time to transform the way you pay your workers.

Click here to learn more.