Many small and medium-sized businesses go along from day to day and year to year without professional bookkeeping. If their financials are very straightforward, and the staff is small – and they’ve never been audited – then the need can seem rather remote. In addition, many business owners are not aware of the benefits of outsourcing payroll services, or that professional advice is available to them that is tailored to their size and requirements, and at very affordable prices.
Go Figured Bookkeeping are the payroll go-to source, the bookkeepers Brisbane needs for small and medium-sized businesses to prosper and grow. We want to show you how we can help make your business better and your life a little easier. Contact us by calling 07 3608 4206, e-mail us at [email protected] or get in touch online.
The Advantages of Outsourcing Payroll
Let’s look at some of the ways businesses benefit from professional payroll services.
Save Time and Money
Payroll is usually a significant expenditure of time. Someone must do it, and it never goes away – the pay cycle just starts all over again. It’s a passive process that doesn’t enhance revenue. It is certainly necessary, but whoever is in charge of payroll could be doing something different that directly benefits the company. When you outsource payroll to professionals, you are no longer taking away that opportunity for business growth.
Clients may be surprised to learn that it’s actually less expensive to outsource payroll when everything is taken into account – the staff hours reassigned more productively may represent a larger saving than the expenditure for professional assistance.
Be Ready for Audit
Nobody looks forward to an audit, but they are increasingly likely for any business as governments look to maximize tax income. Payroll is always one of the major costs of a business, so proper and complete documentation will go a long way to make an audit easier. It also looks better when the payroll is calculated and prepared by a professional third party not directly involved in the financials of the business. Having someone on your side for an audit can be one of the biggest benefits of outsourcing payroll services.
An Easier Time at Tax Time
We all know how important it is to have every document you need when tax time comes around, and for those documents to be very clear and easily readable. Payroll prepared by financial professionals will be accurate, timely, and well-presented. Professional bookkeepers help ensure that employee withholding is calculated and submitted correctly through the year. Advantages of outsourcing payroll services – less worries for you, and a better tax picture for your company.
In Case of a Dispute
There is always the possibility of an employee disputing their compensation or benefits – this can turn into a major distraction for management that needs to focus on the larger daily issues of running the business. That will be the time to bring in the advantages of outsourcing payroll services. The ability to turn the issue over to outside professionals can prevent a big headache – and an employee with a dispute will often feel that they are getting a better hearing from an outsider, leading to an easier resolution for everyone.
Calculation and Compliance
Professional bookkeepers can be of considerable help with ever-changing regulations and compliance issues related to payroll. These will vary by location, but there is no doubt they tend to increase in number and complexity. If something comes up that is beyond the scope of what the bookkeeper can offer, they can be an excellent source of additional advice and assistance. They may already know who to call.
These Benefits and More with Go Figured Bookkeeping
This is just a quick overview of the benefits of outsourcing payroll services and the many ways an outsourced bookkeeper can be of help. Go Figured Bookkeeping are a leader in the field, with long experience with payroll and bookkeeping issues of all kinds. We’ll show you how our services will help move your business to a new level of efficiency and productivity. Contact us by calling 07 3608 4206, e-mail us at [email protected] or get in touch online.