Payroll processing in growing companies can be a bit troublesome for employers. More employees mean that more work is involved in administering human resource functions. Payroll outsourcing is the solution to this problem, and can even benefit a company financially.
The Benefits of Payroll Outsourcing
Payroll processing refers to the processing of weekly or monthly payrolls to ensure that employees get paid on time, and the amount they are due. It might sound like an easy enough job, until you look a bit closer. Below are some of the most common frustrations of employers, and the accompanying benefits associated with payroll outsourcing:
Payroll processing takes a lot of time. Payroll outsourcing provides the benefit of saving time. No longer does the employer have to take a day or two to go through all the timesheets, calculate and verify what every employee is due. All these time consuming functions are performed by the outsourcing company, thus freeing the business owner, and increasing the overall productivity of the business.
Tax matters during payroll processing are complicated. Payroll outsourcing provides employers with the benefit of taking care of all taxation issues during each pay run. Staff members of payroll processing companies are up to date with regards to the newest regulations from the South African Revenue service, and can ensure that all necessary taxes are paid correctly right down to the last cent.
Dealing with SARS is time consuming and complex. A related benefit of payroll outsourcing is that the payroll processing company relies on close contacts with individuals with the South African revenue service to facilitate the speedy and efficient resolution of any tax related matters. This further frees up the employer (and other staff), thereby enabling the company to be more productive.
Business payroll processing is unique to the business. The payroll processing company is all too well aware that each company, like its employees, are unique. As such their solutions are tailor-made to accommodate the nuances associated with each company’s corporate structure and employees. This ensures that the pay run occurs smoothly, efficiently and punctually each and every month.
To ease the minds of security conscious employers, payroll processing by a payroll processing company is usually done in strict confidentiality and with rigorous security measures in place. The only thing you might have to spend a little time on is to find a payroll outsourcing company that you can rely on, and that will assist you without fail for years to come.