Payroll Services Buyer's Guide
Why choose payroll outsourcing
Table of Contents
Although many small businesses in the U.S. still process paychecks internally, this is not always as cost-effective as it appears. At minimum, processing payroll internally costs valuable hours of employee time every pay period plus expensive accounting software and training. In addition, the person who handles your payroll needs to keep up to date on changes in personnel, deadlines, and tax requirements.
Payroll outsourcing can be an affordable way to remove this burden. Particularly if your employees work hours each week or if you have significant turnover, a payroll service can be a time-saving and cost-effective alternative to internal processing.
The benefits of using a payroll service include:
- Accuracy. A payroll service provider assumes liability for calculating payroll taxes, retirement deductions, and health insurance deductions.
- Efficiency. You will save time, money, and hassle by letting a payroll service take care of the complex tasks involved in calculating and paying payroll and taxes.
- Customer service. A qualified payroll professional will complete your payroll services on time, every time, and while being a mere phone call away if you need assistance.
Finding the right payroll service can also be helpful if you have to pay payroll taxes in multiple states.
Even if your payroll expenses are quite stable, companies with more than 10 employees may find that the time saved by an outsourcing payroll system easily makes up for the low costs.