Hiring In House Payroll

Every business that has employees is obligated to carefully calculate employees pay in order to ensure they receive their paychecks on time, and that they are accurate. There's also a myriad of deductions that must be managed such as taxes, health insurance and similar items. Some businesses choose to keep these tasks in-house, hiring a bookkeeper and support staff. The thinking is that they will have more control over the process and that it will save the company money. The truth is, the benefits of an outsourced payroll service far outweigh the benefits of maintaining an in-house payroll department.

Time Savings

Payroll is a time-consuming task that requires a great deal of attention to detail. And, the more employees a company has, the longer the process takes every pay period. It's not just the time that an employee spends calculating and producing paychecks either, there are also federal, state and sometimes local taxes to contend with. In most cases, the business owner acts as a supervisor, double-checking the work to ensure everything is done correctly. Outsourced payroll services eliminate all of the tasks associated with payroll processing, leaving more time to focus on other, more critical tasks. …show more content…
There are, of course, advertisement fees and other costs associated with recruitment activities. Once an employee is hired, they need to be trained in company procedures to bring them up to speed on their job description and expectations of management. Let's not forget about the payroll employees salary and benefits. The costs don't stop there, though. They also need a space to work, furniture, equipment and supplies. When payroll is outsourced, the payroll company covers all of these employee-related expenses.

Avoid Tax