All About Payroll Services

Small Business Payroll Solutions

Payroll is the happiness and joy of employees, but the actual payroll process can be a quite an annoyance for small business owners. Often, sometimes weekly, accountant/s must spend hours making hairsplitting calculations, completing government reports, depositing tax money in various accounts, and writing and signing checks. In addition, there are quarterly filing and tax-payment requirements, and sometimes, the feared phone call from the tax collector with a question about something you had long since forgotten.Despite the headache, payroll has to get done or you will not have any employees.

Computing the payroll is a job that is difficult and eats a lot of time, especially for small business where in there is not any dedicated person employed to manage the organization’s payroll.If your business is small enough, you may be lured to compute payroll on your own, but in the long run this probably is not the best or advisable idea. Most business owners seek help from their accountants, but many decide to work with third-party services that specialize in handling payroll. Another choice is to get help from payroll software used in-house or over the Internet.

Payroll is one of the most commonly outsourced functions in a small business, because the computation is so critical to avoid accuracy mistakes. The process can also be time wasting. It is better to hand this job over to someone else and focus on more essential things when getting your business going.

Before choosing a third-party service who will calculate your payroll, it is a good idea and advisable to check if the company has passed the IRS Assurance Testing System and/or Business Acceptance Testing (BATS) requirements for software developers, reporting agents and transmitters of electronic business returns to the IRS.

Nowadays, outsourcing a business payroll is not just for big companies–small and large businesses alike can enjoy the convenience, cost savings and peace of mind that outsourcing can create. Instead of struggling and stressing to manage it yourself, outsourcing your business’s payroll to an external company can be extremely helpful to your company.Here are a few of the benefits outsourcing provides:

          ·         Save money and time. The time spent by the accountant/s working the payroll in an organization multiplied by the amount of money paid per hour, you will be shocked to know that outsourcing the payroll to the experts or the third party would save lot of time and money. It also frees up a lot of time for your accounting staff, allowing them to focus on other tasks.

          ·         Accuracy. Computing pay and withholding amounts can be tough, one mistake and you are responsible for hundreds, maybe thousands, in penalties or fees. Outsourced Payroll services have experts on staffs that ensure your payroll is accurate every time.

          ·         Quality Work and Expert Help. Payroll services employ tax attorneys, CPAs and other knowledgeable and experienced business professionals to ensure that all payroll computations obey with current tax laws and regulations.Expert help brings peace of mind;make sure you choose a payroll company with a reputation for accuracy and good customer service.