Tax and payroll services are the two most commonly outsourced finance and accounting functions. In fact, according to a recent report by Robert Half, nearly one-third of U.S. small businesses with less than 25 million in volume outsource both.
What's the big deal? Let’s look at five areas where you'll start winning when you outsource payroll:
Today, there are too many in-house payroll apps and programs to count, and you still need to assign an employee or a team to manage it ... or you end up doing it yourself. Crunching numbers and filing taxes eat up time which owners and staff already don't have enough of. Unlike some other small business stressors, this is an easy fix. By outsourcing your payroll, you can shift that time and energy to knocking out your other to-dos, big and small.
Want quick proof? Try our Full Service Payroll free for a whole month and see exactly how much time you could be saving. Run payroll in minutes anytime, anywhere.
Payroll is a repetitive, tedious and time-consuming activity that doesn't help generate money or new customers — sounds like every business owner's dream, right? If not, outsourcing payroll is an inexpensive option that gives you all the tools and benefits of full-service processing without having to slog through payroll taxes or spend time calculating wages yourself.
Our user-friendly Full Service Payroll is just $30/mo (includes one employee) and $4/mo per employee. Plus, we'll set up your software for free.3. Accuracy
Small errors have major consequences when it comes to payroll taxes. An inaccurate form, late filing or incorrect math can mean penalties, fines or worse. With constant rate changes and updates to tax laws and government regulations, you don’t want to be among approximately 40 percent of small businesses that face an average of $845 in IRS penalties every year.
A reliable payroll company will not only ensure that everything is done right the first time, but also take responsibility and help resolve any issues that may come up down the road. When you sign up for Full Service Payroll, we'll file your federal, state and local payroll taxes, and we'll cover any penalties or interest if we make an error.
Any type of payment processing involves risk, but outsourcing your payroll to an experienced organization reduces it significantly. Reputable payment processors, like TransNational Payments, operate according to the Payment Card Industry Data Security Standard (PCI DSS) which ensures safe storage and handling of all sensitive data.
Your financial data is encrypted and securely stored in the cloud when you use Full Service Payroll — and because our servers constantly back up your information, you don't have to worry about a computer crashing or lost or damaged documents.
Some small businesses prefer to keep their payroll and tax management in-house because it gives them flexibility. Outsourcing payroll, however, actually provides more control over your payroll in most cases. A good provider will let you manage your payroll 24/7 via an online portal, support free direct deposit and let your employees access their own pay stubs and W-2 forms electronically.
Full Service Payroll does all of this and more — it offers unlimited payrolls, accurate tax filing and timekeeping and human resources software add-ons.
Thinking about saving money and time on your next payroll?