Managing payroll for small companies can be a daunting and time-consuming task for any small business owner. Managing employee payroll in-house requires totaling employee hours, performing gross-to-net calculations for each employee, calculating and depositing payroll taxes, and preparing and filing tax returns accurately and on time.
If all of that sounds stressful or completely confusing to you, you're better off outsourcing your employee payroll to a payroll processing company. This way, the experienced professionals can handle all of your payroll responsibilities, while you are free to focus on your business. You'll be surprised by how much time you will save, now that you're not handling all the payroll responsibilities on your own. Over 85% of certified public accountants recommend small businesses outsource employee payroll responsibilities to professional payroll processing companies.
Online payroll services are an even more convenient alternative. Online services provide a simple, secure way for businesses of any size to submit payroll. All it takes is the click of a button, and the work is done for you. You can even set automatic settings so that the payroll process will happen without you, if you're going on vacation. With an online system, employees are even able to access copies of their pay stubs, and necessary tax forms, so that you don't have to worry about distributing hard copies of that information.
One payroll issue that many employers run into is difficulties paying their Canadian employees. A payroll processing company can be very helpful if you are a U.S. company with Canadian employees. You must be in Canadian compliance when paying your Canadian employees, and many companies in this situation unfortunately rely on misinformation, and end up making very costly mistakes. Hiring a company to navigate the differences between American and Canadian payroll and tax law can save you a lot of time and money, and make it much easier to hire qualified employees from Canada.
As a small business owner, you have enough responsibilities on your plate already. Let a qualified payroll service with years of experience and know-how take the responsibility and stress of processing payroll off of your shoulders. This will allow you time you never had before to not only focus on the rest of your business responsibilities. Not only that, but the additional free time can also be spent with family and friends, which is oftentimes a luxury that many small business owners are deprived of, working long hours. Let a payroll processing company do the work for you.