If you own a business, you know it's a challenge to run one successfully. One of the most challenging aspects is payroll, which is why many employers leave this and other financial matters in the hands of professional bookkeeping services. If you're still on the fence about updating your timekeeping practices, learn more about how payroll errors can impact your business below.

What Are the Financial & Human Costs of Payroll Errors?

Many payroll oversights can plague an organization, including misplaced timesheets and time cards, miscalculated overtimes, incomplete paperwork, and data entry errors.

Altogether, these errors can disrupt your business operations, give rise to unnecessary expenses, and even get you into legal trouble. You'll also have to waste precious time and resources to correct mistakes and pay penalties. The ramifications can also be worse for employees, as a miscalculated or delayed paycheck could mean a missed mortgage or credit card payment. This will make it challenging for them to sustain a harmonious and trustful relationship with you, potentially affecting morale and productivity.

How Can You Prevent Payroll Errors?

One of the best ways to guarantee accuracy is to hire reliable bookkeeping services—particularly automated ones. This significantly reduces the chances that human error will delay the payroll process. Your business can benefit from automated solutions, such as cloud-based payroll service, integrated payroll software, digital time tracking, accurate tax payment calculations, and more.

Expex in Latham, NY, offers convenient and innovative bookkeeping services to help your business succeed. Their application, Carly, can do everything a traditional bookkeeper does and more. This financial management program expertly fulfills services, such as bill payments, bank and credit card reconciliation, and financial records consolidation. Call (518) 389-2305 today to get started, or visit their website to learn more about Carly.