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Outsourcing Administrative Services – Why You Should Outsource Your Payroll

For a lot of businesses, taking advantage of outsourcing administrative services for payroll function is both a valuable and attractive alternative to hiring a payroll officer in-house. When you employ rigorous step to employ an outsourcing provider, you will find out that outsourcing is a less complex way of filing your taxes, paying your workers, and carrying out other admin-related business functions.

Payroll Function can be a Big Headache

Even the professional and most experienced experts can attest to the fact that payroll can be quite a demanding task. This is why it is best to let an expert handle this business function externally. Otherwise, any slightest error caused by being less attentive or careless to the rigorous process that comes with payroll can greatly impact your business.

You may be having double mind about outsourcing payroll to outsourcing administrative services due to the following reasons;

  • You want to protect your wage information
  • You don’t want a third-party accessing your payroll information

Well, if you run a smaller business and do not encounter substantial changes in tax obligations, you may attempt managing payroll processing in-house. In-house payroll and other administrative functions processing are easier at the earlier stage of a business. However, even the small businesses have discovered that the cost of manning a payroll office is high, plus the task is time-consuming. Besides, if you use an employee who barely knows anything about payroll procedure and payroll programs to carry out this sensitive function, the mistakes that follow (no matter how little) can result in big trouble for your business.

Ease Your Mind By Hiring an Outsourcing Payroll Officer

The best way to ease your mind is to let a qualified payroll officer handle your payroll functions. According to the IRS, 1 out of every 3 business owners or companies has been charged for mistakes related to payroll, with the overall fines or penalties amounting to billions of dollars. Also, you should bear in mind that tax regulations are always changing, which promotes proneness to not just error, but error that has the capacity to grossly impact your bottom line.

So, When Should You Outsource Payroll?

Generally, if you do not have the financial capacity and/or expertise required for payroll function, you should consider outsourcing the task. In addition, engaging outsourcing administrative services will make sense if each pay period comes with changes in your payroll.

In essence, a payroll outsourcing service will be cost-effective and time-saving alternative to handling payroll function in-house.

The payroll service provider will perform the following functions for your business;

  • Tax obligations and payroll calculation for every employee
  • Checks printing and delivery
  • Management reports

Finally, outsourcing administrative services can provide additional payroll functions like envelope stuffing, automatic check signatures, as well as direct checks deposit.

Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.

One Response to “Outsourcing Administrative Services – Why You Should Outsource Your Payroll”

  1. Lisa Horner says:

    This article is full of great ideas and things to try. Thanks for sharing.

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