Skip to Main Content

Benefits of Outsourcing Payroll for Small Business

Larger corporations and businesses often have an entire human resources department devoted to payroll. However, small businesses face different challenges when it comes to payroll. Running a small business successfully requires both efficiency and effectiveness. For employees unfamiliar with the intricacies of this task, payroll can eat up invaluable time and resources for the small business. A solution to this dilemma for a small business is outsourcing its payroll. An accounting firm who is specialized in payroll matters can provide the knowledge and expertise a small business needs to flourish.

One of the biggest advantages of outsourcing payroll is that it frees up a small business to grow! As any business owner knows, the ability to generate revenue is dependent upon the percentage of available resources. The decision to outsource payroll to an expert third party can actually save time and money for businesses. This is because time is money! Highly technical payroll activity demands an extreme amount of time to complete. For employees who wear many hats, this might not be practical or even feasible. Employees dealing with payroll cannot spend their time on endeavors that contribute to the advancement of their business. Outsourcing payroll allows a small business to do what it does best-and not worry about the rest.

As mentioned earlier, human resource responsibilities are highly technical by nature. People go to school for four years to have the knowledge and expertise for the HR field. Payroll is obviously complex, but there is also a component of security at stake. Identity theft, stealing, and manipulating of data are all a risk for payroll. Small businesses do not always have the ability to implement security checks. All businesses must comply with certain government regulations concerning the payment of their employees. Even more frustratingly, these regulations are perpetually changing. The IRS closely follows these regulations and impose strict penalties on those do not comply. But the amount of constant learning to stay on top of these changes is exhausting for even the most devoted small business employee. Small businesses can avoid these painful consequences by entrusting their payroll to a trusted accounting firm.

Small businesses wishing to be more efficient with their resources and effective in regard to the bottom line should consider outsourcing their payroll duties. DSJ prides itself on our highly talented professional accountants devoted to improving the lives of small businesses.

When it comes to serving your accounting needs, no one has more experience than our team at DSJ. Call us today at 516.541.6549 or email us at to set up an appointment. We look forward to working with you!

 

 
This entry was posted in News & Articles. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Both comments and trackbacks are currently closed.