Payroll is a complicated and sensitive topic that can often be frustrating to manage. You need to track hours, calculate salaries, and withhold taxes. It is a lot of work for one person! And if you’re not great with numbers, it can feel like taking on an impossible task.
Nowadays, more small and medium sized businesses are outsourcing their payroll to make things easier for them. Here are 3 reasons why:
1) Not having the time or resources to commit to payroll management
2) Your business is growing and thriving
3) You’re focusing on what you do best – Fixing air conditioners, straightening teeth, or serving the best food in town
If you’re looking for a way to simplify things and take some weight off your shoulders, read on!
The benefits of outsourcing your payroll
There are several benefits to outsourcing your payroll. Here are a few:
1) You save time
2) It takes the headache out of payroll management
3) You get accurate and timely pay stubs
4) It is cost-efficient
5) Your business is more productive
A big benefit of outsourcing payroll management is that it can save you time and money. For example, if your accountant is managing your payroll, you’re paying them a high hourly rate – on average $30-90 per hour. Outsourcing this task would cost far less, empowering companies with smaller budgets to take advantage of this service.
The benefits don’t stop there! When you outsource payroll, you also get access to industry best practices and standards. Use these standards to make sure your company is up-to-code with the latest regulations and guidelines. You also get access to 24/7 customer service that can easily answer questions or troubleshoot issues as they arise—something you may not have the resources for on your own
What to look for in a payroll service
There are many different options to choose from when you’re looking for payroll services. To make the best decision, it is important to evaluate each service based on the following criteria:
1) Does it provide what I need?
2) How much does it cost?
3) Can I afford the cost?
4) What is their approach to payroll management?
5) Will they meet my needs now and in the future?
You’ll want to consider each of these before selecting a payroll service. You will want to find one that will work with your business now and in the future. It is also important not to sacrifice quality for affordability. Go with a service that provides what you need at an affordable rate!
How to get started
The first step is to do an audit of your current processes and understand where you can improve. Once you know what needs work, you need to evaluate the pros and cons of outsourcing. This will help you decide if it’s the right choice for your business.
Contact Simpay today to learn just how easy it is to set up your payroll and get back to doing what you do best – Running your business.