If you find yourself procrastinating on payroll often, it might be time to contact a payroll agency. Getting outside help can free yourself up so you can do all the other things that go into running your business. Additionally, it keeps you from having to keep up with all the legislation surrounding payroll.
Outsourcing to a payroll service not only allows business owners to focus on actually running the business, but it also allows them to avoid the hassles that come with payroll: research to make sure they comply with all laws, and Answering tough questions like “How long should I keep an employee’s work history?” or “What do I do if I fire someone?” and “What do I do if an employee wants paid leave – what are the legal requirements for this?”
These are the questions that payroll accounting can answer. Instead of doing the payroll yourself or spending a large amount of money to hire a full-time HR or payroll employee, you can just go online and start working with an agency instantly and even get up-to-date reports and cost breakdowns.
Payroll outsourcing not only means you no longer have to worry about staying current with payroll laws and knowing when it’s time to file T-4s or “ROEs”; It also means streamlining all of your processes and possibly even switching payment systems to direct deposit. This is one of the areas where you will find your outsourced agency can be very helpful.
A direct deposit payment system allows you to pay your employees instantly, quickly and easily without having to write checks or wait for them to be cashed. Not only does this system allow the business owner to more productively spend the time normally spent buying and writing checks, but it also saves employees the time that they would normally spend going to the bank to check to cash their paychecks.
All in all, payroll outsourcing is a viable solution for both large and small businesses. Today, when everything can be done online, there is no reason for a business owner to spend an inordinate amount of time fret over the process involved in paying employees. This time is better spent working to bring more revenue into the business rather than researching and implementing the right legal ways to pay others. Let a payroll service do the work for you at a low cost and watch your own productivity and revenue generation skyrocket!