Why outsource your payroll?

There was a time when a company’s payroll handed out cash at the end of the day. That time has passed. Payroll, payroll record keeping, payroll tax reporting have become complex and full of traps for the unwary or uneducated. The process can be time consuming and expensive. By outsourcing your payroll processing you are avoiding risks and taking advantage of all the advances in technology to save time and money.

Save time

Using a payroll outsourcing provider will save you time. In particular, an Internet payroll service that provides a paperless payroll solution. How will they do that?

You can enter the time anywhere and at any time from any computer connected to the Internet.

Your payroll outsourcing provider will process all payroll, and if you use a paperless payroll solution, all net payments will be distributed electronically. You no longer have to waste time and money distributing checks and payroll stubs. Your unbanked employees will no longer have to pay exorbitant fees just to cash their paycheck. Employees will no longer have to rush to the bank to deposit or cash their paycheck and get stuck in long lines. You no longer feel obligated to cash checks for your employees. You no longer have to reissue checks that have been lost or that have gone through the washing machine.

Your payroll outsourcing provider will make all payroll tax deposits for you. Your payroll outsourcing provider will complete and file all payroll tax forms with all government entities you are required to report to. Your payroll outsourcing provider will not only do all of this, but will also ensure that it is done correctly.

Your payroll outsourcing provider solution will provide all employees with payroll vouchers and year-end Forms W-2 over the Internet. You will no longer have to keep track of laid off employees to provide Form W-2 to them.

Your payroll outsourcing provider using paperless payroll will be able to provide you with all your reports via email or the Internet. They are encrypted and protected from prying eyes. You will no longer have piles of old reports to save and ultimately pay to destroy them.

Save money

Some business owners don’t realize the true cost of doing payroll at home. They do not add up to all the hours spent on various aspects of payroll and related activities that a payroll outsourcing provider would take care of. Part of the money savings is due to the following:

Your payroll outsourcing provider ensures accuracy in calculating and reporting your payroll taxes and payroll tax deposits and will pay any penalties or interest charged for your error.

You will never have to pay for a software update or new tax tables that your payroll outsourcing provider must provide all of that as part of their payroll services.

Your payroll outsourcing provider will draft your business bank account for a single draft item eliminating the cost of payroll checks and the cost of reconciling payroll checks. Additionally, this eliminates your payroll checks from being used for fraud by check scam criminals.

You will never have to pay to have a Form W-2 reprinted for an employee who lost or did not receive their Form W-2 because their payroll outsourcing provider publishes them on a secure, password-protected server for your employees to view and print. .

Your payroll outsourcing provider using a paperless payroll solution will distribute all net payments to each employee electronically. There are no lost checks to replace. No cost of delivery of checks or payroll vouchers. Check mailing to employees in other locations is not permitted.

Your payroll outsourcing provider using a paperless payroll solution will send you all reports electronically, with no shipping costs. No storage costs for old reports or costs to finally destroy them.

There are many other places, some of which you have probably already thought of, where you can save time and money by outsourcing. Why then doesn’t everyone outsource payroll? Here are some reasons why people don’t outsource payroll and the answers to your concerns.

Q: cost

A: The cost is much lower than most people think, check out the payroll prices. It is a lower cost than the cost of people, software, hardware, security and systems, training, forms, accounting fees, fines, response to IRS inquiries, etc. necessary to do professional work at home.

P: loss of control

A: In fact, your level of control increases. You have time to review. You have full reports that are safe from prying eyes. You have payroll outsourcing professionals, sometimes CPAs, to answer questions and help you avoid pitfalls you don’t even know exist.

Q: My payroll is unique

A: It can have unique aspects, some payrolls do. Payroll outsourcing providers are used to that and have very sophisticated software that can handle just about anything. In fact, a payroll processor is more likely to have software to handle unique circumstances than the average small business.