Archive for January 22, 2013
The cost of managing employee payroll is typically the most expensive line item on a company budget, which is why automation is popular among business owners. Automation both decreases the risk of human error and helps save money over the cost of recruiting, training and maintaining a full time payroll staff. Several employee payroll services exist nationwide, and most understand the basics of how to do payroll. Professional services that manage online payroll and offer payroll solutions will help you get past the basics and into the more complex areas of payroll tax. Since payroll tax does not leave any margin for error, a professional with a lot of payroll tax preparation experience should be contacted. Your small business will likely benefit from outsourcing payroll, human resources services or employee benefit management to dedicated organizations, leaving you free to focus on business growth.
Third party vendor payroll services can integrate security, accuracy and time savings into a single payroll method. This is far better than using multiple forms of software to manager payroll. Relying on one program to track employee hours and shifts, then another to manager accounting practices, a singular system will streamline the process. Paychex offers automated attendance systems that track employee hours, helping to cut down on payment for hours that were not actually worked. This system will further streamline your small business payroll process, since data can be quickly exported to your accounting or tax filing software.