Is Payroll Outsourcing the Right Move for Your Business?

No matter the size of your business, there are several considerations for how you will pay your employees. And, these considerations can be costly and stressful. For most small business owners, they will want the stress-free and money-saving services of outsourced payroll services.

For those of you well acquainted with payroll tax laws, have an understanding of accounting, and have the necessary time needed at your disposal, then you’re probably capable of handling your company’s payroll needs.

However, most people are not savvy with payroll tax and accounting, or have limited with time. That’s where Heartfelt CFO and Tax Services steps in. Selecting an outsourced payroll service is much more than paychecks and cost of maintenance. Margo can help you determine which services you should be using, and which aspects aren’t necessary. Essentially, this will save you a headache while looking out for your bottom line.

Is your current Internal Payroll System wasting resources?

Without an efficient payroll system in place, you could be wasting countless hours, and if you’re not handling payroll yourself then that is countless paid labor hours. In addition, if there isn’t someone on staff who is fluent in accounting and the issues that can arise, you could be making some hefty financial mistakes. Outsourcing your payroll services will alleviate a huge time consuming responsibility!

 

How much do you know about compliance?

Payroll laws are constantly changing, not only locally, but within state and federal guidelines as well. If you are managing your business, and trying to stay on top of compliance changes, it’s likely that an increase in errors could occur.

Granted, some existing payroll software programs can help keep track of changes, working with a staff of professionals adds the personal aspect that a software program simply can’t match. If there is an issue or question, you can always speak directly to someone within the Margo’s team.

Multiple payment
options for employees

Outsourcing your payroll gives you and your employees options when it comes to paychecks. While some of your staff may prefer paper checks, other’s may prefer to use mobile banking or direct deposit to cut down on time and environmental waste.

 

Choose a Reliable Outsourced Payroll Company

Once you’ve made the decision to outsource your payroll, it’s important that you move forward with a knowledgeable company that you trust. Take into consideration the number of years the company has been in business, connect with references and other companies utilizing their services and evaluate the company’s overall reputation.