Payroll is one of those things you must do it, and must do it right. Everyone deserves to be paid in time and lawfully for their hard work and dedication.
What are the benefits of outsourcing payroll?
Dealing with pay roll weekly or fortnightly is time-consuming and no an easy task. You need to know all about deduction, PAYGW, Superannuation, allowances and reimbursements. Most importantly, you must have the answer to the many queries employees usually have.
Outsourcing payroll officers/bookkeepers allows business owners to concentrate on their business and will save them 3 to 4 hours per week (depending on the numbers of employees).
Outsourcing payroll will also reduce your business costs. Having to hire an in-house just for payroll it might no be the perfect solution, especially if you are running a small to medium business. When you outsource payroll, you are delegating all those numerical activities to the experts, and you can rest assure you’re employees are paid in time and correctly, according to your industry laws and regulations.
The benefit of outsourcing payroll is also having the security that your employees are paid each week, whereas if you have an in-house person they might quit at any day and you would be left with no payroll officer and angry workers. Outsourcing will also avoid you extra costs such as SG penalty if you submit and pay your workers’ superannuation late. Your payroll officer will always be a step ahead of you and work through each deadline with you and your business.
Outsourcing payroll will also guarantee you that you will always be compliant with the many changes of the ATO, such as Single Touch Payroll 2 (STP2). This will permit you to continue focusing on growing your business and making sales.
Not yet convinced? Give us a call today and we will discuss with you your payroll needs, and how we can support you.
North Brisbane Bookkeeping