6 Reasons Why Payroll is One Function You Should Outsource
Managing business payroll can be a time-consuming and complicated task because of many labor rules to consider here in the Philippines, yet, its role in a company’s sustainability is crucial. Some Entrepreneurs think that it will be more affordable to handle payroll in- house. However, in many cases and in the long term it’s easier and inexpensive to outsource payroll activities.
What is Payroll outsourcing?
It simply means that instead of dealing with payroll matters in-house you hire external professional service provider such as StartNow to handle all your payroll functions to save time and money.
#1 Reduce Costs and Risks
If you’re currently handling your payroll in-house, chances are you have an employee or team working on it. They need to be trained for whatever expensive accounting software you use. And have to repeat the training with someone else. Outsourcing payroll eliminates these multiple costs by giving all the workload to these external professionals.
#2 Focus Better on Your Core Business
No matter how many employees you have on your payroll it requires a lot of time and attention to detail. Therefore, entrusting your monthly time-consuming tasks to our professionals can be a strategic move, especially for small businesses. Because all the time you will save by outsourcing payroll services can be invested in growing your sales and growing your business instead.
#3 Avoid Penalties
Keep in mind that failure in maintaining compliance can be expensive. If you choose to do payroll in-house, any errors you make can result in penalties from the tax office. Having a professional firm like StartNow undertake things for you will ensure accurate reporting and no expensive fines from the office.
#4 Guaranteed Compliance with Local Laws
As already mentioned above, some of small businesses pay an expensive penalty per year for late or incorrect filings and payments. Penalties for errors, omissions or late payroll tax filings can be very costly. Professional payroll employees are punctual, thus they will handle everything competently, accurately and in a timely manner.
#5 Keep the Salaries Confidential
Avoid potential dramas that may occur in the office by using a payroll outsource. If you handle your payroll in-house , there will be risks that some of the employees could get access to payroll information or the payroll staff would reveal the salary information to others.
#6 Have a Peace of Mind
When you outsource your payroll to a professional service provider, all monthly hassles and dilemmas will be gone. Everything related to your payroll will be handled flawlessly and on time.
Outsource your payroll to StartNow! All you have to do is give us a call at +63 2 2244 330 or send us an email to firstname.lastname@example.org
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