Benefits of Outsourcing Payroll for Small Businesses

To many small businesses outsourcing payroll can have many benefits.  As a business owner, you’ve no doubt learned to hire professionals for tasks that require specific expertise.  Payroll is no different.  Hiring a professional saves the time and money that can be a consequence of costly mistakes, and ensures that you’ll have the time to do what you do best- manage your business.  

The time spent sorting out the pay of its employees, could be spent productively elsewhere. By out sourcing payroll service it allows for the company’s human resource department, accounting department or whomever may have previously been tasked with sorting the small businesses payroll to focus on more strategic tasks.

Here some of the most commonly cited reasons for hiring a payroll Service company like epay: 

 

No need for in-house payroll

Hiring a bookkeeper or accountant to do you payroll can be expensive.  Salaried bookkeepers that perform tasks like invoicing, recording paid bills, and estimating job costs can run upwards of $45,000 a year, plus benefits if the person is a full-time employee in most cases.  Even hiring a part-time bookkeeper will put a dent in your budget. 

Bookkeepers are invaluable professionals when it comes to other financial functions of your business, but the simple fact is that a payroll company can perform the same administrative payroll tasks as a bookkeeper for less.  With epay payroll Company there is no need to train a new employee your payroll methods, and no delay in paychecks or benefits if the bookkeeper is out or gets behind on work.  Most businesses appreciate this important function being taken off their plate, as payroll is a tedious administrative task.  

With a payroll company, you have a reliable source for payroll needs if your business gets busy, needs to hire a new bookkeeper, or doesn’t have the budget to hire an in-house payroll employee. 

Expertise

Number one reasons businesses hire payroll companies is for the peace of mind that comes with hiring a professional.  It’s hard to stay up to date on the myriad different tax laws, statutes, and state and federal regulations.  Filing documents just a few days late or filing the wrong paperwork with the wrong agency can cost thousands in fees and penalties.  A payroll company won’t make these mistakes. We at epay even guarantee to pay penalties or fees as a condition of a contract so you can rest at ease that you won’t incur any additional tax charges. 

We at epay as payroll company also specialize in different types of industries and the services small business require.  Some businesses offer flexible savings accounts, cafeteria plans, or retirement account contributions. Epay a payroll company has the necessary experience to guide you through what could be a complicated process. 

Cost Savings

Outsourcing payroll help small business to frees up time for the business owner, or the bookkeeper time that payroll would take up.  Time is money, and the more time you spend on payroll, or on hiring and training a bookkeeper, the less time you’re spending managing your business.  Payroll companies can take advantage of years of specific experience in performing your payroll processing what takes most business owners or bookkeepers all day will take a payroll staff person a few hours.  Outsourcing is a great way to take advantage of these savings.  

To do that means to identify those business function, where the small business is best served relying upon outside help. Outsourcing payroll services is that one business function that helps to both reduce costs and free up company resources.