If you were to gather a room full of small to medium sized business owners and ask them what task they least like and understand, payroll would be at the top of the list for almost everyone in the room.
Because most business owners are not accountants and were not math majors in college, the responsibility to pay your employees while being compliant with government regulations is generally confusing and cumbersome. All of the current state and federal regulations can give you a real headache.
Thankfully, for small to medium sized businesses, there are services that offer outsourced small business payroll solutions. Businesses can choose to outsource just their payroll accounting, and payroll processing, to firms who specialize only in this field.
Payroll service companies can easily handle small business payroll tasks with ease and accuracy, allowing small and medium sized business owners to better utilize their administrative time growing their businesses and making more sales.
Payroll accounting is one area where you, as a small business owner, can really benefit from the outsourcing trends of today. Payroll processing, through outsourcing, insures that the job is done correctly with all of the latest rules and regulations taken into account.
Payroll accounting companies devote their time and care to keeping up to date on all of the latest requirements. Because this is their area of expertise performed daily, they do it very well.
While many of us think of payroll as simply a paycheck, there is so much more to the task. Payroll accounting includes: payroll checks, direct deposit, debit cards, federal and state withholdings, tax liability registers, check registers, unemployment taxes, tax forms, and so much more.
By outsourcing this responsibility, you can free up your time and still stay on top of all of your reporting and filing deadlines. The payroll service company will keep you apprised of everything you need to know and make sure that you stay in compliance. That is what you pay them to do for you.
In the online age, no matter your location, from New Orleans, Louisiana, to Juneau, Alaska, an experienced small business payroll service company can serve you wherever they are based.
Another wonderful benefit to contracting this job out is that you can have a bookkeeper to process your accounts payable and accounts receivable, while at the same time they do not have to have the specialized knowledge required to process and file your payroll.
This means your bookkeeper can be paid substantially less, and this is an efficient savings for your bottom line. Payroll service companies charge very reasonable rates and are well worth you considering.
No matter what industry you are in, if you have employees then you have a need for payroll to be processed. By attempting to do your own in-house you might find that your bookkeeping staff will be expensive and still will miss something that they were simply not aware of.
By outsourcing your payroll services you can insure that the job is done correctly and in a timely manner. Your payroll accounting company will insure that you meet all guidelines and timelines as well.
About the Author
Andrew Stratton of Payroll Rx. If payroll efforts keep you from more productive, revenue producing activities, there is a cure. Payroll Rx is a small business payroll service company - on time, easy to understand and personalized for you. We have a plan for every size business and every payroll need. http://www.payrollrx.com/