If you have even just one employee, it’s up to you to process payroll accurately and on time every single pay period. You’re also responsible for determining—and then withholding—state and federal income taxes. If that sounds overwhelming, don’t worry; a payroll service can help. 

Why Should You Outsource Your Payroll Service?

1. Saves Time 

Depending on how many employees you have—and how complicated their schedules are—processing payroll could essentially be a full-time job. Since your time is undoubtedly better spent managing other aspects of the business, why not let a seasoned professional handle it for you? Delegating tedious tasks to those who are better suited to complete them is one of the cornerstones of running a successful company. This will free you up to develop new products, strengthen client relations, and implement ambitious marketing endeavors. 

2. Ensures Accurate Records 

As long as financial professionals are handling your company’s payroll, you can be sure each paycheck you sign is 100% accurate. What’s more, the accounting firm will provide you with detailed records for every pay period, quarter, and year. Such documents will come in handy when completing strategic tasks, like devising the next year’s budget and purchasing workers’ compensation insurance. 

3. Keeps Expenses Low

If you outsource payroll—and other essential bookkeeping functions—you won’t need an accounting department in house. This will allow you to save on all the expenditures associated with hiring additional employees, which can easily amount to hundreds of thousands of dollars a year. Your payroll service will also ensure that your payroll taxes are up-to-date and filed on time, which can prevent you from having to pay potential late fees.

For help processing payroll, turn to William G. Molitor, CPA. Based in Cottleville, MO, this firm serves individuals and businesses across the St. Louis Metro area. Founded in 1990, their exceptional payroll services will lighten your load considerably when it comes to managing your employees. To request a quote for ongoing payroll processing, call (636) 926-0502.