We all know that time is money, but time also means bonding, memory-making, and stress-reducing opportunities for busy small business owners and top managers. More time with family and friends and away from work-a-day activities is healthy and healing. According to the IRS, approximately 33 percent of all employers make payroll errors and about 40 percent of small businesses pay on average $845 a year in IRS penalties. Those kinds of statistics keep business people more stressed and take them away from their families.
Online payroll services free up business owners and managers to get out of the office earlier for more family and vacation time. With outsourced payroll, you’ll get more time in your day to focus on core business activities and be less stressed about IRS deadlines and penalties.
Speed and Access
Payroll service providers are specialists with technical resources and knowledgeable about ever-changing tax and payroll legislation. Processing payroll is their business and their industry, and they process even complicated payrolls quickly and accurately. They can also help with changes in the workforce like a temporary increase in seasonal workers economically and easily, unlike small employers who may become overwhelmed with additional processing demands.
Online payroll services can be accessed from anywhere with the Internet, and provide more flexibility for traveling so business owners can feel comfortable when they are away from the office. Using integrated workforce solutions for payroll, time & attendance, human resources and benefits tasks also streamlines employee processes, creating efficiency and making it easier to schedule personal time away from work. A single integrated platform allows everything about employees to be accessed through a single entry point, making it available at the click of a button.
Reliability and Insight
Payroll processing is a time-consuming, detail-oriented and deadline-driven activity that is prone to human error. Payroll services use the latest payroll and human resources technology, with specialists and experts knowledgeable and experienced in the leading payroll industry practices and laws. The integrated technology that they offer can prevent and even eliminate human data entry errors. In addition, businesses can expect consistent speed and quality so busy staff members aren’t distracted by missed deadlines.
Payroll is a demanding process that most business owners and managers don’t have time to keep up with. Changing laws and policies and new forms and requirements are things a good payroll service provider will know about and take care of accurately and economically. With automated processes, integrated solutions and valuable understanding of payroll-related tax laws and regulatory mandates on the federal, state and local levels, a payroll service provides insight into payroll processing that busy businesses need but can’t get without dedicating extensive amounts of precious time.
Using an online payroll provider not only cuts costs and time, it also eliminates boring, repetitive payroll work to free up staff time for more important value-added and revenue-generating activities. It also eliminates the worry of manual payroll processing so managers and owners aren’t hung up on compliance issues. Another bonus of online payroll processing is online check stubs that eliminate distribution of paper paycheck stubs and give employees access to their payroll history at any time via a secure website.
For the 2015 New Year, make a resolution to spend less time on payroll and related tasks and more time with the people you love.