As a small business, there are many services that you can benefit from. Hiring a CPA company is one of the best things you can do to keep track of your finances so you can focus on more important things like finding more customers. If you can find a CPA that also offers a payroll services, you can benefit even more. Here are some reasons you should consider hiring a company that offers payroll services as well.
Hiring a payroll service company is simply convenient for you. With most situations, all you have to do is make a phone call to report the number of hours each employee has worked along with some other information. The payroll company takes care of printing out the checks and delivering them to your business. In some cases, you can even fax the information over. You can simplify the process by having a template that you fill out for each employee for added convenience.
A payroll services company can take care of other payment issues that you have with employees. For instance, if some of your employees have their checks deposited directly into their bank account, the payroll company can take care of that for you. If some employees are contributing to a retirement plan, such as an IRA or 401K, the payroll company will make sure those funds get transferred to the correct account. It saves you the time and hassle of finding out how to do all of those tasks yourself every pay period.
There are many federal and state laws that you have to follow when paying your employees. If you hire a payroll service, they know the laws that need to be followed so you don’t have to be concerned about breaking any regulations. This can save you a lot of money in legal fees and save you time keeping up to date on the latest tax guidelines and other regulations that you have to follow.
Finally, hiring a payroll firm is essential because it helps provide accuracy in the paychecks that are sent out to your employees. If you try to complete the paychecks yourself, there will be room for error because you often don’t have the time to devote to providing accurate paychecks. But with a payroll service, you can expect accurate results since this is the main service they provide.
InSite CPAs offers payroll services. You can get in touch with them for all of your business accounting needs.