- Payroll involves a series of time-consuming tasks, from calculating work hours to managing employee benefits.
- By engaging with outsourced payroll providers, companies can increase accuracy, be more efficient, and save valuable time to focus on the strategic side of growing their business.
- Quickpay Payroll simplifies payroll and administrative tasks for businesses of all sizes, with a personalized approach. Contact us to get started!
Payroll goes beyond paying employees’ salaries. It involves complex, time-consuming tasks like calculating work hours, deductions, taxes, and benefits. Fortunately, outsourced payroll providers can handle this for you in a hassle-free, efficient way.
These external companies work as your strategic partners, assuming the administrative workload so your internal team can focus on the things that make your business grow.
Planning to outsource payroll? Read on to find out what to expect from outsourced providers and why your company needs one.
Let’s dive in!
What are the Services of an Outsource Payroll Provider
The services provided by outsourced payroll providers can vary widely, but they often include:
1. Payroll Processing
Payroll processing involves calculating employee salaries and wages, deducting taxes, benefits, and other withholdings, as well as generating and sending out paychecks or direct deposits.
2. Tax Compliance
A payroll provider ensures your business is compliant with local, state, and federal tax regulations, and stays up-to-date with any current changes that may have an impact on payroll.
3. Managing Employee Benefits
Payroll providers can also support your business with administrative tasks, like keeping track of employee’s eligibility and setting up payroll deductions for health insurance, retirement plans, and other benefits.
Making sure you stay compliant with the Affordable Care Act (ACA) is another important aspect that can keep you safe from costly penalties.
4. Tracking Time and Attendance
Tracking employee work hours is essential to calculate wages accurately. A payroll provider can simplify this process for you by setting up a system to log and submit work hours, as well as easily approving timesheets.
5. Recording Keeping and Reporting
Every business needs to maintain accurate and up-to-date payroll records. Your payroll provider can help you with that. They can also generate reports for internal and external use, including end-of-year tax documents.
Why Should You Hire an Outsourced Payroll Provider
HR teams often have a lot on their agenda, from managing employee benefits to staying up-to-date with the latest labor regulations. Administrative burdens take up time and energy that they could use on higher-impact initiatives to attract and retain the best employees for your business.
Hiring an outsourced payroll provider can be a smart and strategic solution to increase efficiency and focus on the things that truly matter.
Here are a few reasons why you should hire an external payroll provider:
- Save time and resources. By reducing the amount of repetitive, time-consuming tasks for your internal team, they can be able to focus on core business functions with more potential for growth and revenue.
- Minimize payroll errors. Professional payroll providers can help avoid errors in calculations, tax filings, and other payroll-related tasks, preventing costly mistakes.
- Get access to advanced payroll software. By partnering with a payroll provider, you can access the latest technology without the costs of investing in payroll software and training.
On a global survey by Sage, 83% of HR leaders cited lacking the right HR technology as a challenge for the new year.
- Join forces with a team of experts. External payroll providers often have specialized knowledge and expertise in payroll processing and tax regulations. They can offer valuable insights and guarantee that your business consistently adheres to compliance standards.
- Keep your payroll data safe. Payroll information is sensitive and subject to industry regulations. A payroll provider can ensure confidentiality and compliance.
- Get peace of mind. Last but not least, knowing that payroll is in the hands of professionals allows you to concentrate on more strategic aspects of your business with confidence.
Meet Quickpay Payroll: A Better Way to Payroll… and Everything Else
Payroll can be complicated and time-consuming — but it doesn’t have to be.
Outsourcing payroll to an external provider can save your HR team precious time, while keeping your business compliant, and reducing the likelihood of errors that can cost your company money. On top of that, a payroll provider gives you access to advanced software and specialized expertise.
At Quickpay Payroll we support businesses of all sizes with payroll, HR, and administrative services, all with a personalized approach. From managing employee benefits and calculating taxes, to keeping up with payroll compliance requirements, we help you with routine tasks so you can focus on business growth.
Contact us to find out how we can make your everyday processes simple and efficient!\