If one were to poll all of the approximately 30 million small business owners in the United States today about what their most expensive and time consuming problem was, it is very likely that a vast majority would respond with payroll processing. One of the reasons that payroll processing can be a problem is because it is quite complex. It is also risky, because of one makes a payroll accounting mistake, they could face very expensive fines.
Small business payroll processing throughout the year comes with many tasks that are fraught with the potential for mistakes. A typical small business must file 16 tax returns and 32 payroll tax deposits a year. That amounts to a lot of payroll processing paperwork that would be better handled by a dedicated company with years of expertise. Over 85 percent of Certified Public Accountants today recommend that small business owners employ the skill and expertise of professional payroll services companies.
Aside from ensuring that no more costly errors are made, outsourcing payroll processing can be a terrific way to save time. With an automated time and attendance system, the ideal payroll company can easily recover lost time by closely tracking the amount of time that ones employees actually spend on the job. Keeping track of time and attendance more closely can be a terrific way to prevent errors as well. Since these services are fully automated, it will be one less thing that the company owner will have to concern themselves with.
By outsourcing payroll processing, an employer will be able to spend less time on paperwork, and more time with their employees and customers. No one wants to waste all of their time behind a desk, when they could be out there working in the business that they helped to create. By outsourcing payroll processing duties to a dedicated and qualified group of experts, anyone can make sure that they will have the time needed to get back in the thick of things. Read more here.