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4 reasons outsourcing your payroll could save you time and money

By August 21, 2019Uncategorized

Whether you’re a small business, or an entrepreneur just starting out on your own venture, you want to be getting on with what you do best, not worrying about time-consuming and complicated administrative processes such as the monthly payroll. Read on for 4 reasons to outsource your payroll to a third-party specialist.

1. Efficiency

Running a payroll always involves last-minute amendments and changes. It is easier and more time-efficient to have your point of contact for payroll on the other end of the phone who can respond and make the necessary changes quickly to keep everything running to schedule.

2. Security

Outsourcing your payroll to a third party specialist means you can be assured of rigid security protocols and procedures put in place to protect all the sensitive data involved.

3. Accuracy

A payroll specialist will have a system built for handling payroll data. This means you avoid the risk of data inaccuracies, technical glitches or delayed payslips, which are all issues that face small businesses trying to run payroll in-house. Outsourcing payroll means you can maintain control whilst delegating the details to a specialist to ensure accuracy, especially as your workforce multiples.

4. Compliance

In the UK, there is a myriad of complex rules surrounding payroll such as tax legislation, National Insurance, financial regulations and general employment laws, all legal requirements associated with paying employees. Outsourcing your payroll to a third party specialist ensures you are putting someone in charge who is fully versed on all of these rules, meaning you can be assured your payroll will be fully compliant.

If you have reached a stage with your growing business where you are finding it difficult to manage payroll in-house, then it might be time to look at outsourcing to a third-party specialist. At Cornel Accountants, we specialise in providing online accounting services to small businesses, and we’d love to see how we could help you save both time and money; very precious commodities in the world of start-ups and small businesses.

Get in touch [https://cornelaccountants.com/#getintouch] with our friendly team today to find out more!

Photo: DSC00632 by Andrew_Writer licensed under Creative commons 4