What You Should Know Before Outsourcing Your Payroll - PowerPoint PPT Presentation

About This Presentation
Title:

What You Should Know Before Outsourcing Your Payroll

Description:

If you’re a small business owner with employees, hiring an outsourced payroll service is always going to be beneficial, regardless of how many people you actually employ. Not only does outsourcing relieve you of the burden of running payroll, but it also alleviates the stress of maintaining compliance, and filing state, federal and local taxes on time, and accurately. – PowerPoint PPT presentation

Number of Views:3

less

Transcript and Presenter's Notes

Title: What You Should Know Before Outsourcing Your Payroll


1
What You Should Know Before Outsourcing Your
Payroll
2
  • If youre a small business owner with employees,
    hiring an outsourced payroll service is always
    going to be beneficial, regardless of how many
    people you actually employ. Not only does
    outsourcing relieve you of the burden of running
    payroll, but it also alleviates the stress of
    maintaining compliance, and filing state, federal
    and local taxes on time, and accurately.
  • Additionally (as if this wasnt enough!), when
    you outsource payroll, you can also access other
    important payroll and HR related resources, such
    as workers comp and health insurance. Youll also
    have a lot more time to focus on other aspects of
    running your business, some of which you may have
    been neglecting due to payroll commitments.

3
  • To help you get to grips with it all, here is a
    short, simple guide to outsourced payroll
  • What features will you require?
  • Provided you work with an experienced outsourced
    payroll company, they will probably offer a range
    of payroll and HR related services for you to
    choose from, and the type of business youre
    operating, will help determine what services you
    need. For example, if youre a single-person
    company, you may only need help outsourcingyour
    tax liability and paperwork. Or if you have a
    larger number of employees, you might need
    assistance administering retirement plans,
    insurance plans, benefits, or workers
    compensation.

4
  • Many small business owners dont even know the
    law regarding payroll, and would almost certainly
    benefit from tailored advice to ensure that they
    fulfil all their legal requirements before
    running payroll.
  • For businesses in need of a range of HR services,
    you would be best engaging with an outsourced
    service that can handle everything this will
    simplify matters and mean that you only have to
    deal with one, third-party provider.

5
  • How much will I have to pay to outsource payroll?
  • Just as with any other outsourced service, how
    much it will cost depends on several different
    factors, such as how many employees there are,
    how often theyre paid and any additional
    services you might require. With this in mind,
    its best to find an experienced outsourced
    service provider and discuss a personalized plan
    in detail with them.
  • Who will be my point of contact?
  • Most reputable outsourced services will offer you
    a single point of contact for continuity of care,
    but dont forget that they typically have large
    teams of professionals that will work together to
    get you the results you need, fast.

6
  • Should I wait until the beginning of the year to
    outsource payroll?
  • Again, provided you hire an experienced payroll
    provider, they will have no problems making the
    accounting process seamless, even if they start
    working with you midway through the year. By
    collecting year-to-date reports, theyll ensure
    that employees receive only one W-2 instead of
    two separate ones.
  • Will they be able to integrate with my existing
    accounting technology?
  • The short answer is, yes. The majority of modern
    payroll outsourcing providers have integrations
    withcore accounting platforms such as QuickBooks
    and Xero, and may even offer a single sign-in
    login for your accountant to access all of your
    accounts,reports and other information

7
  • Outsourcing your payroll requirements is
    typically a seamless transition, and in most
    cases, business owners can start reaping the
    rewards of expertly managed payroll within days.
  • Apollo Payroll is dedicated to delivering expert
    advice, responsive service, and highly accurate
    payroll processing and reporting to ensure the
    success and growth of the business that we serve.
    Our services include comprehensive payroll
    services in Homestead and other cities in
    Miami-Dade County, employee background check and
    group health insurance in Miami Coral Gables
Write a Comment
User Comments (0)
About PowerShow.com