In 2010 the USA had more than 27.9 million small businesses and more than 18 500 firms with more than 500 employees. These numbers increased dramatically over the past six years. America is amongst the top ten richest countries in the world despite not being one of the most populated countries and the reason for this success is due to the fact that most Americans, like you, adopted a can do and independent attitude. As a business owner you probably have your hands full with trying to stay ahead of competitors. It is hard work to run a successful business in the USA. One of the tasks that most company owners and managers find difficult is handling payroll. Payroll is tough. You have a lot to remember when calculating salaries and a small mistake on your side can lead to terrible arguments.
Top reasons why your company should consider payroll services
Payroll services are usually offered by professional payroll companies. You basically outsource the payroll duties to the payroll company and they do all the calculations, payments and processing for you. Here are the top reasons why you should use payroll services;
No more calculations – You don’t have to struggle with the salary calculations and deductions anymore. The payroll company will process all leave days, sick days, off days, bonuses and deductions for you and will make accurate payments.
Employee satisfaction – Your employees will receive their accurate salaries at the right time which is great for employees who rely on their salary a certain date so debit orders can go off without fines.
Quality pay slips – Payroll companies will supply you with quality pay slips that employees can use.
Confidentiality – Most employees don’t want other employees or individuals to know what their basic salary is. The payroll company keeps all salary information completely confidential.
Deductions explained – All deductions are explained well on the pay slips so employee arguments can be avoided.
Salaries paid – The payroll company can pay your employee salaries on your behalf so you can focus on work.
They use the software of your choice – Payroll companies allow you to choose the payroll software that you prefer. They are great with MYOB/QB and Reckon.
Everything can be done virtual – You don’t have to leave the office to get your employees paid. You can email all the employee information to the payroll company.
Much more affordable than hiring a payroll clerk – Payroll services are much more affordable and much more convenient than hiring your own personal payroll clerk.
Online options for self-service – If your employees would like more personal freedom then you can always opt for online timesheets. These online time sheets allow employees to track their leave online and to apply for leave dates on open spaces.
Reduced fraud – You don’t have to trust your company’s confidential information such as bank accounts and financial information with a payroll clerk. Payroll companies has a different method to handle all payments and processes that leaves your personal information completely confidential.…