relevancy crammed: THE ADVANTAGES OF OUTSOURCING PAYROLL

Saturday, August 25, 2012

THE ADVANTAGES OF OUTSOURCING PAYROLL

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Many companies still choose to do their payroll in-house, but is it really the best option?

The average company does payroll on biweekly (or twice a month) basis, some on a weekly basis, and a few businesses pay once a month. With the advent of so many online payroll services these days, the questions for many businesses is, should they employ someone in-house to do payroll, or outsource it.

Outsourcing payroll can help a company move resources to areas of their business that make money, not cost it. A company?s focus should be on making profit, so in this sense, doing payroll in-house is more of a liability. However, some business owners feel that outsourcing gives them less control over their payroll when in fact the opposite is true. By using a good online payroll service, you actually gain more control as almost all online payroll systems keep meticulous records that can verified anytime by logging on to your account.

Another great benefit to outsourcing payroll is, not having to keep up with the ever changing tax compliance rules and laws. This alone is worth the fee paid for online payroll services.

But not all online payroll services are created equal. It?s best to know what your needs are and then shop to find the best pricing that offers the most. Be careful who you choose, especially if record archiving is important to you, as many payroll services will delete your files if you stop using their payroll system. Look for an online payroll service that archives your data, even if you stop using their services.

Aside from price, the second largest issue in using a payroll service is customer care. In these days of automated phone options, one wonders if a living breathing person actually works at some of these places. So if human interaction is a major concern for you, make sure the company you decide to do business with really answers their phone, without sending you to Antarctica for support.

Next, you want to consider the learning curve. Some online payroll systems require you learn a confusing array of commands to get going, while others are so easy a fifth grader could use them. An easy to use payroll system doesn?t mean you?re not getting your monies worth, it just means it was well thought out.

For small to medium sized businesses the pain of doing payroll is not real great, it?s the quarterly and annual reports for state and federal that leaves a lot of small business owners groaning from the paperwork, not to mention how time consuming it can be. Most payroll service providers include these reports with their monthly fees, but check the fine type to make sure you?re not paying extra for it.

What to look for.
Find a payroll service where you?re not bound by a term contract, meaning, you can quit the service from one payroll cycle to the next; is affordably priced, has great customer service, archives your data, no set-up fees, and won?t charge you extra for quarterly and annual reports, and, one that offers you a verity of ways in how you pay your employees. Also, if your company is a one man operation, make sure you use a payroll service that will only charge you for times you actually use the service, and not just a monthly recurring fee.

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