Do you know that you will pay far less to an external expert to straighten up your payroll compared to paying the IRS for payroll errors? In case you do not know, one out of every three small businesses is penalized by the Inland Revenue Service for payroll related errors.
Avoid Payroll Error Fines and Fees
The fines and fees on payroll errors can rack up substantially, plus the additional energy and time required to unravel the complex nature of a payroll system. In the end, you will end up paying more compared to hiring a payroll outsourcing service to do the work. Small business owners are getting smarter in this regards by choosing to hire an expert to do the computation instead. This will keep their mind at rest regarding potential clerical errors, legal mistakes, or time wastage.
Automatically File Your Taxes and Integrate your Accounting Software
Outsourcing your payroll function to an expert would help you file your federal, state and local taxes automatically as well as integrate your business processes by taking advantage of the service’s payroll software program. Besides, it will enable your employees gain access to W-2s, paystubs, and other personal information. Do you know what this means? Your data entry task will become minimal.
Leverage Cloud-based Payroll Service
As a small business, you may not afford a cloud-based system that would enable you do more than just manage your payroll. But, as soon as you embrace a payroll service, you will automatically leverage the service’s cloud-based program to manage payroll and do much more. Such cloud based programs are simply central hubs for not just payroll management also human resource processes as a whole. They are excellent for simplifying and organizing hiring process, onboarding, as well as retaining employees.
Leveraging such services, a small business can manage its entire job postings from just one page and accomplish other integrations such as posting job openings to multiple websites simultaneously. Subsequently, a company can search resumes with ease and manage potential employees throughout the hiring process. In terms of onboarding, the program grants employees access to the company’s materials such as training videos, facility maps, policy manuals, and more. In addition, you can select a payroll service that best suits your business needs.
So, it doesn’t matter how your small business is structured and what its needs are, you can find a payroll outsourcing service that can yank off that payroll burden off your shoulder and offer you even much more than you bargained.
Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! inspires entrepreneurs to build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.