Has payroll become a pain? Are you desperate for a little relief?
Outsourcing payroll might be the answer. If you haven’t seen our blog on the benefits of outsourcing, check it out here.
What is Payroll?
It’s important to know your basics. Running payroll is the process of paying your employees. This is also where you calculate wages and taxes.
There are a few factors that impact the function of your payroll. This includes things like pay frequency, overtime pay, exempt employees, non-exempt employees, bonuses, fringe benefits, and vacation pay – just to name a few.
Paying your employees may sound simple, but the number of exceptions and various compliance issues can make payroll a huge headache for business owners. And this is where outsourcing payroll comes in handy.
Why you Should Consider Outsourcing Payroll
- It’s affordable. Payroll is one of the most affordable services to outsource.
- Decreases liability. Liability is a huge concern when it comes to payroll. There are different rules at the federal and state level that your business will need to comply with. Outsourcing has two benefits here:
- You’re putting your payroll into the hands of someone whose job is understanding every aspect of payroll
- Some of the liability passes from you to them; what you remain liable for depends on how you choose to outsource
- Keeps things moving. Payroll is incredibly time sensitive; outsourcing payroll means employees are paid on time and accurately.
Outsourcing Payroll with Encurio
We aren’t the payroll experts – but we work with the experts. When a client chooses to outsource their payroll with us, we facilitate their relationship with our favorite payroll professionals: ADP.
Here’s what that process looks like.
- We set up your payroll with ADP. This looks different for each business.
- We facilitate any outstanding notices or reconciliation issues. If you’ve handled your own payroll until this point, you may have past issues that need resolving!
- We submit payroll for you. We act as your administrative arm by communicating with your employees to gather their timesheets and make sure they’re submitted on time.
What’s Left on Your Plate
Outsourcing payroll takes the majority of the work off of your plate, except:
- Cash flow. When payroll is sent out, the money to pay your taxes and employees has to be available to act within compliance.
- Labor law compliance. We don’t offer any advice on labor laws, but we can help connect you with outside counsel to help!
- Final timesheet collection and approval. If we cannot reach your employees, the final responsibility is on you to make sure that your employees submit their timesheets for approval and payroll processing.
A Simple Way to Relieve Your Workload
Outsourcing your payroll is one of the easiest and most impactful ways to reduce your workload. Not only is it affordable, but the reassurance of having a knowledgeable team helping you act within compliance is invaluable.
If you need payroll relief, set a meeting with us to learn what outsourcing can look like for your business.