PN PAYROLL – WHY IT PAYS TO OUTSOURCE YOUR PAYROLL
Handing out payslips on time is a minuscule component to a small company payroll.
Keeping accurate records, calculating and paying payroll taxes, and communicating effectively with your staff are key components of a company payroll. By using an outsourced payroll provider your business can simplify the process by assigning an unbiased third-party provider to manage the entire process, cost-effectively and efficiently.
Below are further benefits of outsourcing your payroll
- Save time by assigning payroll to the payroll experts frees up hours of valuable time, that as a business owner, can devote time to other important aspects of your company. Sorting out in-house payroll and all the issues that come with it can be time consuming and if done improperly can cause major issues within a company.
- Save money, Many business owners underestimate the cost of processing payroll internally by failing to account for all hours spent and resources allocated to pay employees and maintain payroll paperwork. A thorough cost assessment usually proves that a small company saves money by outsourcing the processing, tracking and filing of payroll documents.
- Avoid costly fees by implementing payroll software that subsequently needs annual licensing fees to be paid. Having to maintain this infrastructure and employ a full time professional can weigh heavily on cash flow for a small company.
- Avoid penalties, calculating local employment taxes and filing payroll-related tax paperwork can be more than just a hassle. If your monthly (EMP201) or annual returns (EMP501) are filed incorrectly the business may face penalties and be liable to pay interest. This becomes a business risk and may hamper progress in some cases, such as tax clearance and employee returns. PN Payroll Solutions is a registered Tax Practitioner, we maintain and continually review our knowledge in accordance with SARS regulations.
Ensured confidentiality and protection of data and employee profiles. A contracted outsourcing company will protect your data based on your needs and instructions as per your contract.
The possibility of manipulating the payroll and incidence of fraud is greatly reduced.
When emailing approvals, changes or payslips, your outsourced payroll provider ensures that the information is encrypted and in PN Payroll Solutions case, password protected.
For more information
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