The Top 5 Myths About BIR CAS-Ready Cloud Accounting Software: Debunked
By Johnny Kawa Introduction In recent years, cloud accounting software has gained…
Do you know that paying your employees does not just pertain to paying their salaries at the end of every pay schedule?
Doing payroll is so much more than that and can be time-consuming, tiring, and stressful.
It is no secret at all that payroll management can be a pain in the neck for small businesses.
The struggle seems to be real and business owners who value their precious time and peace of mind do not want to deal with payroll errors and inaccuracies in recording.
They often ask, is there a way to calculate payroll and make tax filing easier and more efficient?
Whether you own a small business, a medium-sized or a large one, outsourcing payroll services may have crossed your mind.
And before you know it, you end up partnering with a service provider to take care of your payroll requirements.
And that is for a reason.
Do you know why?
It’s because outsourcing is practical in avoiding errors.
In fact, according to a survey, as much as 45% of small businesses say avoiding errors was a reason they choose to outsource payroll.
But what does payroll outsourcing really mean?
And how would it impact a small business?
This is all you need to know about outsourcing payroll so you can decide if it is about time to outsource for your business.
Finding a solution with a high-quality and good track record outsourcing payroll service can make payroll management simpler, easier and error-free.
What is payroll outsourcing?
Payroll outsourcing is primarily employing the assistance and service of an external payroll provider to handle the administration and management of your company’s payroll.
Instead of a DIY payroll as a small business owner, having an in-house payroll or perhaps hiring an HR professional or team manager, a third-party provider can take care of just about everything payroll.
More and more companies opt to outsource payroll in order to save time, effort and money, and also to put a stop to erroneous payroll that would lead to more serious problems and alarming consequences.
One cutting edge feature that payroll outsourcing can provide is the use of cloud based HR and payroll software.
It allows access to convenient and secure hris and payroll systems.
Outsourcing payroll services may be a major leap of faith on your part as a small business owner since you want to do things on your own.
But then, when should you consider outsourcing payroll?
And when is it time ?
Let’s take a look.
When To Consider Outsourcing Payroll
Unrelenting and Frequent Payroll Errors
- If your current software causes frequent mistakes, chances are this could be more of a liability than an asset.
- There is more time wasted in coming up with a corrective computation causing frustration among employees.
- With HRIS, accuracy is the name of the game hence, you are assured of correctness in your numbers.
High Cost of Payroll Processing
- Manual payroll processing is labor intensive and leads to high cost in manpower and resources.
- HRIS and payroll systems provide fast and bang-for-your-buck service fees.
Lagging Behind and Time Consuming
- If your existing system is slowing down and is lagging behind in processing payroll then it is the best time to consider outsourcing your payroll services.
Consistent Tax Penalties
- Because of errors encountered, delays are inevitable.
- LIke a domino effect, tax filing also becomes late furthering tax penalties and the like.
- As a business owner you want to establish a good name and this is no way to be one when it comes to government compliance.
- A reputable business is one that files taxes on time.
Slow Disbursing of Paychecks
- When you can’t pay your employees on time based on the agreed payroll schedule then there is definitely something wrong with your system.
- No more second thoughts, please.
- The time for HRIS and payroll systems is now!
What do payroll outsourcing services do?
Outsourced Payroll Management for Small Businesses streamlines your payroll processing system.
Most of the time they automate many different aspects of payroll.
This would include computing withholding taxes and deductions, depositing employee paychecks, consolidating payroll reports, and producing payroll.
A remarkable HRIS and payroll system outsourcing service will provide you with a wide array of features for running payroll quickly, efficiently and accurately .
Simple payroll outsourcing choices enable you to manage payroll even by using a phone or desktop application.
Other options allow you to link directly with the professional support.
Outsourcing payroll services is the way to go in expediting your company’s payroll processing.
Rather than having your HR team deposit paychecks, calculate taxes and all, outsourced payroll handles it properly all behind the scenes.
Provide accurate and on-time payroll to your employees.
Save time and money by outsourcing payroll services that will do the HR tasks for you, leaving you with more time to focus on strategic needs.
It is time with EasyHR.
Register for a free trial today. https://human-incubator.com/easy-hr/
