Many small businesses turn to a trained accountant when it is time to file their mandatory business taxes and organise their books. Though, we often meet managers of small teams who are resistant to seek help with their payroll activities; a popular misconception is that outsourced payroll services are only meant for large businesses with multiple teams to onboard and keep track of. As trained accountants, we can confidently tell you that payroll is hard work, whether you’ve got five employees or fifty! Here are just a handful of reasons why outsourcing your payroll may be a smart decision for you, your employees, and your business as a whole.

  1. You’ll be updated on tax laws and legislation

If your business requires a rather complex payroll structure, you want to be sure that you are complying with tax laws and the latest legislative guidance. Having an accountant trained specifically in your industry will ensure you never miss a beat.

  1. You’ll likely save money

Employing an in-house payroll manager is seldom a cheap investment. By outsourcing to a trained accountant, you could pay just a (quarter?) of a permanent employee’s annual wage.

  1. You’ll ensure wages are paid on time

Trained accountants can work at speed, and rightly so because most know payroll systems like the back of their hands! Getting payroll done quickly means your employees will be paid on time, and we all know that a happy team makes a hard-working team.

  1. You’ll be privy to training

Most accountants worth their salt will be happy to provide training to managers, just so they can understand a little more about how the process works. This means you’ll feel confident answering sporadic questions if you get them.

  1. You’ll avoid mistakes

Following on from point #4, having a trained accountant on board will ensure mistakes are avoided when it comes to paying your staff.

  1. You’ll have peace of mind

By taking your payroll activities off-site, you’ll be able to rest easy knowing wages and other private information is away from potentially prying eyes.

  1. You’ll likely save time

Taking charge of your payroll means you’ll no longer be available to work on your business development, staff training, and everything else that makes up your management role. Or, at least – as often as you once did. Outsourcing can give you that time back.

Thank you for reading! If you would like any further information on outsourcing your payroll, please get in touch with us today.