As a business owner, payroll processing may be one of the most tedious tasks on your to-do list. The question is how do you know if you should turn it over to a professional? Here are some reasons why you might want to utilize a professional payroll service.
Save Time and Money
Regardless of how many employees you keep on staff, handling payroll processing every week or month can take up a significant portion of your day. Instead of inputting data and double-checking for hours, handing over your payroll duties immediately allots you more time to spend dedicated to your business.
Turning over your payroll responsibilities also saves you money because you are no longer dedicating a significant amount of time to this task. If you aren’t quite convinced, think about how much time it takes to complete the following:
- Print, sign, and distribute checks to your employees
- Prepare payroll taxes and returns to submit to the appropriate government agencies
- Generate reports for your in-house accountant
- Calculate payroll for every time period
Even if you turn payroll processing over to an employee you feel like you can trust, there are still risks involved.
When accounting for every small task that goes into the payroll process, you may find that letting a payroll expert handle the job is well worth the investment. At Gecinger Tax & Accounting, we can help you determine if outsourcing your payroll will be of benefit to you, or we can help you determine best practices for your payroll should you continue to complete this task on your own time. Contact us today to discuss your business accounting needs.