payroll service

The top 5 reasons why small businesses should outsource their payroll

payroll service

A lot of business owners aren’t experts in accounting or have training or experience in running their own payroll services. Payroll processing can be challenging and confusing to small business owners, and the fact that the IRS can impose penalties if not filed correctly makes payroll processing somewhat intimidating. Because of this, most small business owners leave payroll processing to experts -either by outsourcing payroll, or processing it in-house (also known as traditional payroll).

  1. Outsourcing Your Payroll is More Cost Effective

If a business owner uses a certified public accountant (CPA) to perform in-house payroll processing, costs could be anywhere between $260 and $480 per payroll run -not per month, but each time payroll is run.

For in-house payroll servcies, using a CPA is the best way for having your payroll done correctly because certified public accountants are specially trained in accounting and payroll procedures. However, certified public accountants charge between $65 and $120 per hour and at approximately 4 hours per payroll processing run, the cost can be quite substantial.

So how much can you really save?

Let’s compare how much it would cost for Small Business Inc. to run payroll for its four employees once a month. Just to be conservative, we’ll use $65 per hour to estimate the traditional in-house payroll cost –the low end per …

Payroll Outsourcing

Outsourcing Payroll Services Australia – A Good Idea?

Payroll outsourcing is popular today yet there are many who aren’t sure whether or not this is the right option for them.  It can be extremely difficult to know what route to take especially when one wrong turn can spell disaster for a business.  However, when you have employees you need to pay each week, you need to consider using the best payroll service and sometimes, that might mean outsourcing.  Is outsourcing payroll matters a good idea or a step in the wrong direction?

Saving Money but Getting Fast and Accurate Results

Too many people think payroll services Australia that are outsourced means reducing the quality in some way.  However, getting everything handled with payroll accurately is a lot easier to do.  Its true and it all comes down to the fact the outsourced professional knows what he or she is doing.  They are the ones with the experience and since they aren’t a full-time employee, you get to save money.  You are charged with only the work they carry out which is usually very reasonable compared to full-time employee wages.  It is something to give serious consideration too.

Reduces Pressure on the Employees

Outsourcing is fast becoming a sought after tool of today and it isn’t difficult to see why.  When you consider payroll outsourcing you can actually reduce …