When employees go to work, they get paid for it. Whether the employer actually handles time cards and paychecks him or herself or uses a payroll services provider is up to each individual employer. However, research has shown that one major potential problem facing small business owners is payroll processing, as it can be risky, complex and very expensive if the employer makes a mistake.
Therefore, payroll solutions are so lucrative. Interestingly, payroll providers can offer human resources management, ESA and OSHA compliance and even government remittances. However, anyone who knows what is payroll services knows that payroll and HR management in Canada is very different than payroll and HR management in the United States. This is of course due to the different laws and regulations.
On that note, American firms can easily make very costly mistakes managing and paying their Canadian employees by improperly relying on innocuous practices and misinformation. Therefore, many businesses who know what is payroll services rely on payroll solutions located in the same country as their business.
The Canadian government actually regularly produces payroll deduction tables to help employees deduct the correct amount from each employee’s paycheck. Ultimately, payroll providers are very adept at managing payroll services, much more so than individual employers. At the end of the day, businesses, and especially small businesses, benefit greatly from payroll service providers who can make paying employees a whole lot easier.