Payroll Information

PAYROLL OUTSOURCING
MAY ANN GIBAN

WHAT IS PAYROLL OUTSOURCING???

Payroll outsourcing would often refer to the process of purchasing the payroll of the company, by a company of labor or parts from a source outside the company's staff or plant. These includes the names of the employees as well as the total amount of salary or wages to be paid to them at a given time.

TO WHOM TO OUTSOURCE YOUR PAYROLLS WITH???

In every company, they do have the option of whether to outsource their payroll functions to an outsourcing service just like a payroll bureau or to a fully managed payroll service.

Payroll Outsourcing would normally reduce the costs involved in having payroll trained employees in-house as well as the costs of systems and software needed to process a payroll.

WHY OUTSOURCE OUR PAYROLLS???

Main reason why is it a lot of businesses outsource their payrolls,l is because of the ever increasingly complexity of payroll legislation. Annual changes in tax code, PAYE and National Insurance bands as well as a more statutory payments and deducions having to go through the payroll often mean there is a lot to keep abreast of in order to maintain compliance with the current legistation.

BENEFITS OF OUTSOURCING PAYROLLS:

Avoid IRS Penalties
Reduce Costs
Alleviate Pain
Offer Direct Deposit
Free Up Free Time
Avoid Technology Headaches
Leverage Outside Payroll Expertise
Avoid Payroll Knowledge Walking Out The Door