Monday, 7 May 2012

REASONS TO OUTSOURCE THE PAYROLL



OUTSOURCE THE PAYROLL; affects the generous benefits, where Organization works at the large scale, with different segments / branches of the Organization activities, and having less professional staff, the following reasons multiply the resources of the Organization, to outsource the Payroll:
1.     Save resources: You don't have to buy software or hardware.  We can do all your bookkeeping at our offices.  Spend your capital growing your business, not on your back office operations.

2.     Make better decision: You will know the exact financial state of your business at all times, so you can make decisions based on hard evidence, not a "gut" feel.

3.     Improved cash flow: Because our focus is always on your records, we will provide you with all the necessary information to better manage your cash flow.  We follow up on overdue accounts and assist your customers to pay on time.  And we do it without annoying your customer.

4.     More reliable and professional: Some employees show up just to punch a clock.  When we work for you our business reputation is on the line.  Our service will provide you with accurate, complete and timely information.  We pride ourselves on never having missed a deadline.

5.     Save money: Calculate the cost of payroll taxes, worker's compensation, vacation, and health benefits; then add the cost of training, turnover and supervision.  An outsourced bookkeeper can be significantly less money.

6.     Teaching basics and beyond: With more than twenty years experience, we've taught many employees and business owners the proper way to work with their accounting software and maintain their records.  Our service is a certified QuickBooks Pro-Advisor and we are experienced in many other packages too.

7.     Worry: There's a lot to be said for the peace of mind that outsourcing payroll services can bring to a business owner or manager. No headaches, no hassles: You're left to focus on running a profitable business.

8.     Accuracy: Payroll mistakes can be painful, angering employees and — more ominously — the government. A good payroll-services provider is far less likely to make a serious error than your in-house staff. Furthermore, if a big mistake is made, you can seek financial restitution from the provider — something you can't do with your own employees.

9.     Accountability: If paychecks are delayed or paperwork is mishandled, it's the payroll-services provider's responsibility to fix things. If the provider can't (or won't) remedy the situation to your satisfaction, you can sue. You can also switch to another service provider in a snap — even if you have to eat a portion of an existing service contract. Try firing, hiring and training an in-house payroll staff in anything less than several weeks.

10.  Cost: Big businesses can afford to maintain big payroll departments. For small businesses, however, an in-house payroll service is a money burner. If your business has fewer than 20 employees, there's a very good chance that you can save money by outsourcing your payroll operations. Do the math. Figure out how many hours your employees are devoting to payroll-related activities, calculate how much you're spending and compare the amount to the plans offered by several payroll-services providers. Also, be sure to factor in the money your business spends on tasks like printing and distributing checks, creating tax documents, and the like. You'll probably be surprised by the result.

11.  Productivity: Payroll management is a time-consuming activity. With this burden removed, your employees can focus on doing more productive things, and you may even be able to trim your staff's size.

12.  Reliability: In-house payroll activities function as reliably as the people doing the work. With a payroll service, output speed and quality won't vary in accordance with vacations and illnesses. You also won't have to spend time helping new hires understand your business's payroll system.

13.  Speed: Since payroll-services providers are specialists with vast technical resources at their disposal, they can process even the most complex payrolls at lightning-fast speed. Unlike most employers, they can also accommodate a temporary influx of seasonal workers without acquiring new systems that will remain dormant the rest of the year.

14.  Insight: A good payroll-services provider will know all the ins and outs of payroll-related tax laws and regulatory mandates on the federal, state and local levels. Your employees could try to achieve the same level of understanding, but it would take a considerable investment in time and effort.

15.  Flexibility: Boring, repetitive payroll work can act like an anchor on your business. Your staff, when freed of rote payroll responsibilities, will be free to focus on other, more creative work.

16.  Security: Do you have the time and energy to closely supervise your business's payroll for time and rate abuses and other shady activities? Most payroll services firms have technologies that can spot and alert clients to various types of payroll fraud, such as payment manipulation and "phantom workers."

17.  Save time:  Would you like to spend more time on the core interests of your company?  Or maybe you'd like more leisure time.  We excel at working independently and at the same time we're always available to answer your questions or provide a status report.

18.  Stress free tax time: Well maintained financial records help you to get all the deductions you deserve.  Up to date accounting will also reduce the cost you pay to your CPA or other tax preparer.

19.  Get financing: To apply for a loan, your records must be accurate, complete and easy to understand.  We've worked with many banks and can help you to prepare all the necessary paperwork to get the money you need.

20.  Free initial consultation: We can help you on a short-term basis with set-ups, clean-ups, trainings or reconciliation projects.  If your needs are ongoing, we can help with that too.  It's your business, your choice.  Call us today.