If you put off doing the payroll often, it may be time for you to look into a payroll agency. Getting outside help allows you to lift the burden off of yourself so that you have time to do all of the other things that go into running your business. Further, it also keeps you from having to keep up with all the legislation that surrounds doing the payroll.
Not only does outsourcing to a payroll service allow business owners to focus on the actual running of the business, but it also allows them to avoid the hassles that come along with doing the payroll: researching to ensure they are in compliance with all legislation and answering difficult questions like, “How long should I keep an employee’s work history?” or “What do I do when I fire someone?” and “What do I do if a member of my staff wants paid vacation time – what are the legal requirements here?”
These are the questions that can be answered by a payroll agency. Instead of doing the payroll yourself, or spending a large amount of money to hire a full-time HR or payroll person full-time, you can simply go online and work with an agency right away, and even receive up to the minute reports and cost breakdowns.
Outsourcing the payroll not only means you no longer have to worry about keeping up to date with the laws for payroll processing and knowing when it’s time to file T-4’s or “ROEs”; it also means streamlining all of your processes and possibly even converting payment systems over to direct deposit. This is one of the areas where you’ll find your outsourced agency can help greatly.
A payment system that includes direct deposit allows you to immediately, quickly and easily pay your employees without having to write any checks or wait for them to be cashed. This system not only allows the business owner to put the time usually spent buying and writing checks towards something more productive, but it also saves employees the time they would normally spend going to the bank to cash their pay checks.
Outsourcing the payroll, all in all, is a viable solution for businesses large and small. These days, when everything can be done online, there is no reason for any business owner to spend inordinate amounts of time stressing about the process involved with paying staff. That time is better spent working to bring more revenue into the business, instead of researching and implementing the correct legal ways to pay others. Let a payroll service do the work for you at a nominal costs, and see your own productivity and revenue generation skyrocket!