If you run a small business, your daily workload might already be hard to manage. Why not take a burden off your shoulders by outsourcing payroll service to a professional accountant? If you’re not sure whether your small business is ready for this transition, consider the following benefits.

Benefits of Outsourcing Payroll

1. Save Time & Money

When you try to process payroll in-house, you’ll have to ask some of your employees to take time out of their normal duties to devote the financial bookkeeping. From learning computer programs and calculating hours to signing and printing paychecks, they may take much longer to complete the payroll tasks than a trained accountant, so you may end up paying them more in the long run. That’s less time being put toward your business, which will make it harder for you to meet deadlines and maintain productivity.

2. Avoid Penalties

Processing payroll requires meticulous attention to detail, and unfortunately, it’s easy for non-accountants to make mistakes. But in some cases, a payroll mistake isn’t just a time-consuming mishap—it could also get you in trouble with the IRS. By outsourcing payroll, you can rely on a dedicated accountant who keeps a finger on the pulse of changing tax regulations. You may avoid paying penalties and potentially undergoing an audit.

3. Enjoy Peace of Mind

As a small business, you know just how important it is to ask for help along the way. However, how can you be sure that the person or company is making truly competent decisions? When you hire a professional accountant to take over payroll duties, you don’t have to be worried about security risks like fraud or embezzlement. Your company’s personal information will be safe and that your certified accountant will bring any unusual findings to your attention.

If you’re eager to outsource these duties to a trustworthy payroll service, turn to Cloyd & Associates PSC of London, KY. They are proud to help individuals and small business owners prepare for tax season and stay abreast of their finances year-round. Whether you need debt advising or bookkeeping services, call them at (606) 864-8110 to start discussing your plans today. You can also visit the website for a complete look at their offerings.