Payroll management can be a huge hassle for small business owners, especially those without much experience with financial record-keeping. Payroll for small companies can be a tedious and time-consuming process. Unfortunately for business owners, the consequences of inaccurate payroll management can be serious and costly.
However, there is help out there for any small business owner managing payroll. Outsourcing payroll to a payroll processing company will ensure payroll tasks are completely accurately, and on time. There is only one invoice to sign, which enables small business owners to spend time that was previously spent on payroll, focusing on their business.
A payroll service provides more than just payroll management. They also provide human resources management, ESA and OHSA compliance and government remittances. In the event that any sensitive employment issues arise, the payroll company would be able to handle them.
Payroll services also know how to handle the tricky jurisdictional differences between United States and Canadian payroll compliance. Many companies are afraid to hire employees from across the border, because they’re not sure how to handle the payroll responsibilities. This was, employers can hire the most qualified employee, and let their payroll service handle the rest.
Payroll services are also able to act as the employer of record for Canadian employees, to avoid complications. This means that they would be the employer of any Canadian employees for tax and legal purposes.
Another advantage of outsourcing payroll services is that it can all be done online. So many people pay all of their bills online, and do all of their shopping online, so why not handle payroll online as well? Online payroll benefits employees as well, because they are easily able to access their pay stubs and tax information through an online portal, without relying on the employer. Read this for more.
