Introduction

Most business owners have an idea of how much care goes into doing payroll! Especially in organizations that have a large number of employees.
For many of these owners, payroll administration is one of the most challenging yet important tasks. Employees don’t usually respond well to errors in salary computations regardless of how infrequently they occur.
What makes payroll administration so daunting for employers, anyway?

The Time Factor
Payday is important and functions best when the payroll administration and disbursement of salaries occur without set backs. One of the most common culprits of payroll processing issues is wrong time tracking. If the payroll is to be ready on time, owners rely on their managers employee time sheet approval. Once the time sheets have been approved, the process can be completed. Doing these tasks by hand or by using outdated software, can also result in further delays.

You will also need reports prepared for:

• Job costing
• Recent hires
• General ledger
• Salary garnishments
  
  

Additional delays could be incurred if the HR and payroll systems are not integrated. What is the result? Having to waste time entering the data manually. The process is slow and can result in more errors.
The Cost Factor
Using printed paychecks takes more time and will cost more! Instead, using an electronic mode of payment can streamline the entire process. Again, the manual process can be even more of a “nightmare” for companies with a larger workforce.

The Legal Factor
This one is a big deal since the provisions and regulations regarding taxes can change without notice. Moreover, they are becoming more complex each year. As a responsible employer, you are expected to stay abreast of these developments at all times. With every payroll and tax year ending, you will have to make certain federal, local and state laws are being followed.

Failing to file taxes on time or dropping the ball when it comes to following legal provisions will result in much more than a disgruntled employee! It could result in audits being held and losing large amounts of money on penalties. Certainly, any of these events could contribute to sleepless nights and unwanted nightmares.

Instead of risking nightmares every time you have to pay your employees, why not hand it over to someone else? By that, we mean outsourcing the payroll duties to a professional HR firm, such as pinnaclesolveshr. Hire us and forget about everything. Instead, focus on the other aspects of running your business while we do all the math, literally.

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