You’re now in possession of a brand new, shiny Maji account. Welcome on board! This is the first step to engaging your team with their finances and getting them on track for bright futures.
As you’ve come to Maji through your accountant, you might be wondering who is responsible for setting up and maintaining your Maji account, as well as engaging your employees. In this article, we set out how Maji and your accountant work together to provide you with the Maji service.
Set-up and onboarding
To get your account set up, you’ll need to set up and customise your administration portal. Your accountant will register your portal, and then you’ll:
Agree to Terms and Conditions
Add branding (customise your employee app)
Book an employee workshop
Tell your employees about Maji and their workshop
In the meantime, your accountant will add the information to your admin portal so that each of your employees’ Maji accounts is personalised. Information such as the amount they are currently contributing into the pension and their salary allows Maji to provide detailed analysis of their current and projected financial situation.
Once all the information is uploaded onto your administration portal, your accountant will invite your employees to create their own Maji accounts.
As your employees respond to Maji’s coaching, they might want to change certain things about their situation. They might, for example, want to opt into salary exchange to claim their national insurance tax break. They might want to save more into their pension. Employees can make these changes on Maji, and they appear on the administration portal to be approved.
Once they are approved - your accountant will do this unless you expressly say you want to approve requests yourself - your accountant will make those changes on your pension provider portal and in your payroll.
The Maji team will be on hand to support both you and your accountant through this process.
Maintaining your account
Over time things will change about your workplace - employees will leave, others will join. Salaries of your staff might change. All of this needs to be kept up to date on your administration portal for Maji to be able to provide accurate data on your employees’ app. Your accountant will keep your Maji platform updated on your behalf.
What’s in it for my accountant?
Maji and your accountant work out a way of splitting the fee for Maji’s services so that your accountant is remunerated for the time they spend managing your Maji account. If you are using Maji to manage your salary exchange scheme, the savings generated will be more than enough (an average of £13 per month) to cover the fees shared between your accountant and Maji, and mean both you and your employees make savings on top.
Ask us anytime if you need any help
If you’re not sure what’s needed at any stage, don’t hesitate to get in touch with Maji. We’re here to support you and your employees every step of the way.