As a small business owner, there are many things you must pay attention to that divide your time and attention. In order to focus on the parts of your business that truly require your attention, it is vital for you to find solutions to these distractions wherever possible. One major area of your business that is likely to eat up your time is payroll. When it comes to types of payroll solutions to solve this issue, you have multiple key options to choose between.
Let’s take a look at two of the biggest ones, and why partnering with Employers Resource might be your best option among these types of payroll solutions.
Do It Yourself With Payroll Software
There are numerous payroll software options available if you wish to keep payroll in-house. Some of these are standalone options focused specifically on payroll, while others are bundled as a part of a larger accounting and payroll bundle.
These software solutions can be a huge help and drastically cut down on the time, effort, and attention required when compared to manually processing payroll. Many of them are also relatively inexpensive, and the amount of time you will save by using one will more than make up for the up-front cost or software license fee.
However, there are still major drawbacks to these software solutions. By keeping this process in-house, you will still need to devote a (potentially sizable) portion of your time to make sure payroll is completed correctly on a regular basis. Also, while many of the companies that create payroll software offer support, they are unlikely to be familiar with your business, its needs, or which specific regulations it is impacted by.
While these software solutions may be affordable, it is important to remember these savings can quickly disappear if you start finding yourself in trouble with the government because of compliance violations from trying to handle things yourself.
Outsource Your Payroll to a Team of Experts
Instead of trying to handle payroll on your own, you should consider outsourcing your payroll. While payroll software can certainly be helpful, they can only go so far in solving your payroll needs.
Payroll can be an incredibly confusing task on many levels. Whether it’s understanding different types of payroll withholdings, remaining compliant with immensely complex and ever-changing tax codes, or simply avoiding the kinds of small errors that can cost you in big ways, there are countless reasons to leave your payroll up to experts instead of doing it yourself.
If doing this, however, it is essential that you make a wise choice of who you partner with. You need to find a partner that you can trust, and who will be devoted to your business like it is their own.
That is why Employers Resource makes a great partner you should consider us as a solution for your small business’ payroll needs. If you partner with a PEO, they share liability with your company, which means we will treat your company like it is our own; because, in many ways, it is.
Here at Employers Resource, we have a team of payroll experts that specialize in working with small to mid-size businesses like yours. No longer will you have to worry about keeping up with the mountain of federal and state payroll and tax regulations, worry about making the slightest mistake, or take valuable time out of your schedule to conduct payroll. Instead, you can focus on what’s really important—running your small business.