Payroll is a burden of operational work that has no direct contribution to core business. Usually, employers have two payroll processing options—process payroll in-house or outsource the work to a payroll service. Processing payroll in-house can slow down business growth. A small business owner should consider the following when attempting to process payroll in-house:
- Training personnel for payroll processing duties
- Using personnel for payroll processing versus other business tasks.
- Costs related to computer equipment and software.
- Keeping up to date on payroll tax laws
“Many small businesses today are outsourcing payroll to reduce costs and shift the burden of the payroll process.”
Other advantages to outsourcing your payroll include:
- Accuracy: Payroll Solutions ensures the accuracy of all payroll computations.
- Convenience: You can get payroll information to us by fax, phone, e-mail, etc.
- Confidentiality: Your risk of exposing information to unauthorized personnel is eliminated.
- Employee Benefits: You can offer your employees more benefits such as retirement plans and direct deposit.
- Business Focus: This is the most important advantage. More time can be spent with the actual running of your business than with trying to process payroll.
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