Advantages of Outsourcing Your Payroll
Outsourcing payroll operations to AccountingKW can offer small businesses an attractive and valuable alternative to managing payroll internally. Outsourcing alleviates the time employees spend calculating payroll, determining tax obligations, preparing cheques and providing management reports.
Tax regulations are constantly changing, making errors more prolific. We can file federal source deductions for your business. Having us prepare and file payroll on your behalf alleviates the problems that can arise from:
• Changes in the tax code and government forms;
• Failing to understand filing deadlines and deposit requirements; and
• The use of outdated software.
Tax Experts on Payroll
It has been identified that a large number of small and medium enterprise pay penalties each year for late or incorrect filings and payments. In order to ease the concern with potential for penalties, we use a client management system to accurately track client deadlines. The peace of mind provided to clients can be a crucial benefit in justifying outsourcing such services.
Leveraging the expertise of our company can alleviate the time-consuming process of having your employees manage these tasks. Outsourcing can free your staff’s time to pursue more important value-added and revenue-generating activities. In fact, Inc. magazine identified payroll as the No. 1 task for small business to outsource. Because payroll management is a time-consuming activity, removing this burden can allow your employees to focus on more productive items within their realm of expertise.
We can prepare reports on earning statements, time sheets, expenses, and many other summaries to fit your needs.
Convenience and Flexibility
Whether you need weekly, bi-weekly, or monthly services, we have you covered. We also prepare and file T4’s and T5’s, and other information slips (if required) to save you even more time and ensure your compliance with the CRA on all fronts.
Payroll preparation and filing can be a daunting task for many businesses; however, it doesn’t have to be. Contact us today for a free consultation or pricing!
Don’t forget to follow us on our Facebook page for more valuable information.