Whether your business is a sole proprietorship or you have several employees, certain aspects of business management can be very stressful.
Payroll processes is one area that most people agree can be extremely frustrating.
Even small businesses are likely to find that payroll presents at least some angst and worry.
As a company grows and expands, more employees can be hired or work can be outsourced.
As this happens, there is also a potential negative to contend with.
Unless certain measures are taken, the workload related to payroll processes can become overwhelming.
Taking Control of Outsourcing
Many small businesses outsource work that is considered tedious or time-consuming to independent contractors.
This can include everything from web development and administrative support to customer service and sales and marketing.
In some cases, the work is simply things the business needs help with and in other instances it is things the owner and others have no interest in doing or learning to do.
Hiring the work out is a great way to save time and money.
However, keeping the books straight on numerous jobs can make payroll processes complicated.
This is especially true if the jobs are paid out at different rates.
One of the easiest ways to handle this is to work through a reputable collaboration / referral program.
When contractors are hired through these services, payments are processed via the program.
This eliminates the stress and hassle related to in-house tracking of hours or payment records for these contractors.
The contractors’ hours are tracked via the program.
In some cases, the job may be paid per a flat fee.
True Payroll Relief
Of course, when it comes to small business management, most people are most concerned with stress-free ways to process the company’s payroll for regular employees.
Besides tracking the payroll process in a do-it-yourself technique, businesses have two main options:
They can choose to use payroll software programs, or…
They can use payroll service providers.
Either way, the business is relieved of much of the work of the payroll process, and therefore, there is little stress involved in preparing the checks for each payment period.
In addition, these services and programs can even offer such things as direct deposit, check printing, and tax preparation.
Payroll Software Programs
Although dealing with payroll is rather repetitive, state laws and regulations related to taxation and related concepts are always subject to changes. This can make keeping up a real challenge.
Payroll software programs simplify the process of working with salaries and taxes.
Online software programs can be updated automatically, and the sophisticated programs work seamlessly with human resources and other accounting systems.
This eliminates worries about the on-going demands of payroll processes.
As long as basic information is entered into the system, the program can generate employee salary checks as scheduled.
Payroll Service Providers
Payroll service providers can take over all or part of a business’s payroll tasks.
When the company turns its payroll tasks over to a payroll service provider, it is relieved of all or part of the stress related to payroll.
Not only does this provide relief from stress, but it also provides peace of mind in knowing that the job will be completed by experts in the field.
In addition, the business is relieved of the time and effort required to complete the payroll processes, which means that time can be dedicated to other tasks.
This efficiency is why many small business owners believe so strongly that payroll service providers are a cost-effective solution.
Editor’s note: Debbie brings up some good points on outsourcing your payroll through various means.Whatever you do, taking the reference of a friend should be taken with a grain of salt — this is your business, and what works for one may not work for you.Before moving forward with outsourcing, list your needs and expectations on paper — and unless you’re good at this sort of thing, do this several times.This list will form the expectations you will have for your payroll outsourcing or payroll provider — and you will be able to feel much more comfortable with your final decision.
What Are Your Thoughts??
✔ Debbie provides 4 great options for your small business payroll — what is your decision process for this? Do you need some professional, free assistance with this?
✔ Not all the options are good for your business, one or a couple may be good for you while the others would be better not pursued — do you believe know how to discern what is best for your own business?
✔ Having a full assessment of your needs before contacting any provider or oursource company always reduces the stress of selecting and implementing your payroll — be sure to let us know if you are hesitant about your needs assessment!
Please share your thoughts with us and our audience in the comments section below! Or you can reach us directly from our contact page.
Everything You Need To Know To Manage Your Own Payroll In QuickBooks®
Managing your own payroll used to be a daunting task. But not any longer! This book is the first comprehensive guide on using QuickBooks to perform all aspects of your company’s payroll…from setup to tax reporting. Whether you have five employees or five thousand, this book contains everything you need to know in order to handle your payroll functions quickly and efficiently. The writing is clear, concise and intuitive – making it ideal for new and veteran QuickBooks users alike. “This book is an excellent instruction and reference guide for setting up and running payroll in QuickBooks. It is so easy to understand that even a novice like me can feel confident my payroll is set up properly right from the start.” – Carrie Williams, Office Manager.
More About the Authors of the Book
Sharon McCauley, Advanced Certified QuickBooks Pro Advisor, CPA (inactive) and founder of Barons’, Inc., a nationwide provider of QuickBooks training and support. Sharon’s experience includes 25 years of accounting in both public practice and private industry, the last eight of which have been focused exclusively on QuickBooks training for business professionals. Brandon Morris, Advanced Certified QuickBooks Pro Advisor and Certified Sleeter Group QuickBooks Consultant. Brandon has 15 years experience in technical support, software installation and web design and is a co-founder of Barons’, Inc. Melody Jones, Advanced Certified QuickBooks Pro Advisor. Melody has over twenty years of accounting and auditing experience in public practice, state government and the private sector and is a recognized expert in QuickBooks and payroll management.
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Featured image courtesy of David Castillo Dominici at FreeDigitalPhotos.net
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Debbie Allen is an online marketer, professional writer, and is the founder of TheThingsWomenWant.com an online magazine that covers topics that women care about, both personally and professionally. Debbie’s background as an Organizational Development Practitioner provided her with opportunities to learn about Six Sigma and other strategies and tools for process improvements. Having extensive experience in several aspects of operating and owning a business, she remains faithful to her belief that all departments of an organization have to function together in a seamless fashion, including a security system. She refers to this as a holistic approach to business management. As a small business owner and independent contractor, she maintains a focus on making customers/clients happy. Debbie can be reached via email, through the social media, or by leaving a comment below...
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