Should You Be Outsourcing Payroll?
You’re running your business. Happy that you have a few, or maybe even more than a few employees. But, there are certain duties that come along with running a business that you don’t have the expertise to handle or you just don’t want to do. Payroll is certainly one of those areas. But, it is something that must be done, and must be done correctly.
Payroll is not as simple as calculating your employees’ wages and issuing their checks. Stephanie Wyrsta, Senior Sales Consultant, from USA Payroll in Cherry Hill, NJ says that a payroll provider knows about the “hidden” tasks of payroll that you might miss. “As a payroll provider it’s our goal to stay compliant on all things related to the payroll industry including any tax changes. Going with a payroll service allows you the freedom from worrying if your taxes are setup right or if your deductions are coming out properly. We take all the hard work out of the process”
So why else should you be outsourcing your payroll?
Time Savings: Do you have a dedicated employee handling payroll or is this function given to someone in addition to their other duties? Or does it fall on you as the owner of the business? In either case, if payroll takes you or an employee from their core duties, it might be time to consider outsourcing the task.
Cost Savings: Payroll is not a revenue generating activity for a business. Calculate the cost of what you are spending in-house on payroll and payroll related activities. You might be pleasantly surprised that the cost of outsourcing your payroll is less expensive than you think.
Avoiding Costly Errors: If payroll is done incorrectly, you may find yourself having to deal with some costly mistakes to fix. Ms. Wyrsta explains some of the top mistakes untrained people might make while processing payroll. “The biggest reason you switch to a payroll service is for the peace of mind of them taking over your tax liability. One of the biggest mistakes employers make when doing their own payroll is messing up the tax filings, and the ramifications can be catastrophic. Additionally, business owners aren’t always aware of the products payroll companies offer that won’t just save them money but save them time to focus on their business. Tons of money gets wasted on things that can either be streamlined or outsourced”.
How do you go about finding a reputable payroll provider? Ms. Wyrsta recommends being sure that your provider “is secured, insured, and bonded; since most payroll services take over liability you want to be sure your money is protected. Take the time to sit down and meet with the person setting you up to learn about their company to ensure they align with your needs. Look at things like retention rates for both internal and external employees”.
If payroll is taking more of your time than it should, or you just groan every time you have to approach the task, outsourcing allows you to save both time and money as you concentrate on your business.
USA Payroll was founded in 1996 by Mary VanWyk and Frank Fiannaca with the goal of offering unsurpassed personalized service with cutting edge technology. Headquartered in Cherry Hill, NJ, USA Payroll is a major regional payroll provider in the Philadelphia, Southern New Jersey, and Delaware Valley marketplace with nationwide capability. Contact Stephanie Wyrsta at 215-356-6424 or by email at firstname.lastname@example.org for more information.