Outsourcing payroll when the time is right
Payroll is time consuming and complicated. It can take away from the time, energy and passion you might otherwise invest in growing your business. So is it time to outsource your payroll?
While there is a cost to consider when engaging a professional, if the time is right, it should pay for itself.
When considering outsourcing your payroll talk to us to ensure your business is ready for the next step. We offer payroll services but do not recommend this service for everyone. It is not just about handing over some of your workload but more importantly identifying what you could be doing for your business with that freed up time and if this is a financially viable and beneficial option for you. We can help you with a business plan to utilise your time effectively for the growth of your business.
Costly DIY errors
When it comes to payroll, you are not simply paying staff for hours worked. While that is complicated enough, you need to consider sick days, holiday pay, leave, overtime, half days, and unanticipated complications. Suddenly your payroll has become a huge task that you would rather ignore but every week/fortnight, it is payday again. If you make an error, you have disgruntled staff, the tax office on your back and potentially fines to pay.
What if someone could do it for you and in a cost effective manner that your could justify? We’re not saying go cheap and dodgy, we’re saying, check with your accountant that the numbers stack up and that engaging the services of a bookkeeper to do your payroll will have a positive impact for your business output and productivity.
Maintaining compliance with the tax authorities is a challenge that has to be met every year. Tax laws and codes are always changing. Stage two of Single Touch Payroll is now a requirement. Are you up to date? Do you understand what the changes mean and are your systems updated to meet the new requirements? Is your head spinning? Is payroll consuming too much of your time?
We are not all tax or finance professionals and we are not meant to be. Every business has its own specialty. We can guarantee that we at Porters CA are not doing our own plumbing and electrical. If you’re running a business, you have an entirely different industry on your mind and your focus is not on payroll, bookkeeping and tax. As payroll becomes more complicated, as your business grows and the ATO implements ever changing rules, it makes sense to hire someone who specialises in payroll and bookkeeping to look after payroll for you.
Is the cost worth it?
We are not saying this is an option for all businesses. It has to make good financial and business sense.
When providing payroll and bookeeping services to our clients we want to ensure they see our services as a value adding part of their business growth. We can discuss a business plan on how to fully utilise your newly freed up time for business development, growth and profit.
What does your business need? Is engaging a payroll bookkeeper right for your business? Get advice. Contact us to find out more.