You're either starting a small business and want to set yourself up for success, or you're ready to take existing accounting and payroll responsibilities off of your plate. Either way, should you hire an accountant for your business, take on an annual tax preparer, or outsource your accounting to a monthly service provider?
At the end of the day, your payroll provider should feel like an extension of your small business. You trust other local vendors to help with your daily operations because relationships matter. So why not keep payroll on track for your business and your employees using a similar philosophy?
Many business owners fail to consider all of the difficulties that arise when it comes to payroll. A simple error could cost you the trust of your staff and even cause reliable, talented individuals to resign. In addition, these mistakes could cost you thousands of dollars in penalties, along with hours of time correcting errors.
As a small business owner, you may feel like there’s just not enough hours in a day. Time is extremely precious – and putting in extra hours after a full work day to run payroll can take its toll, especially if you’re still dealing with spreadsheets and cutting checks by hand.
There comes a time in every small business when outsourcing certain aspects of operation becomes the right decision. However, coming to that conclusion is often difficult for small business owners who are used to taking on everything themselves.