Outsource Your Payroll
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Payroll is a critical function within a business on various levels. Not only is there the confidentiality aspect, there are taxes and reporting involved that can reap steep penalties if not filed properly and on time.
More often than not, I have seen administrators of companies become very frustrated when given the task of bookkeeping when they have no financial background to handle this task. This is a huge mistake for the success of your business.
One portion of bookkeeping that can be delegated (outsourced) is the payroll. I use a payroll company to save not only time, but the headaches from ensuring the taxes are paid and the tax reporting is filed in a timely manner.
In addition, make sure to read these articles:
Latest Comments
Jillian- Thanks for the clear advice to any business. It always amazes me when I work with an employer who is still struggling to provide payroll in house. Outsourced payroll also brings the potential for added services at lower costs. Once a vendor has your data there are lots of other service they can provide.
Comment By: Rebecca Mazin | 3/6/08 at 7:08 AM Outsource Your PayrollI agree with Jillian regarding added services. I recommend employee leasing to reduce the daily HR burdens placed upon small business. Employee leasing is a cost effective approach to handle not only payroll service but also workers compensation,health benefits,401K,etc. http://www.onlinehrhelp.com is a useful site to for further information.
Comment By: Rick | 3/10/08 at 12:34 PM Outsource Your PayrollEmployee leasing is term utilized by Professional Employer Organizations or PEO. These companies typically can provide affordable health benefits not readily available to a small business.
Comment By: Rick | 3/10/08 at 12:37 PM Outsource Your Payroll
