Signs It’s Time For Payroll Help
New business owners are faced with a wide range of difficulties and obstacles when getting their feet on the ground, but most people won’t properly prepare themselves for the payroll process. It might seem easy in the beginning, but you’ll eventually be screaming for payroll help as your business grows.
The more employees you hire, the more difficult it becomes to manage and maintain your daily, weekly, and monthly payroll challenges. It’ll get to a point where you simply don’t have enough time in the day to focus on your responsibility as owner AND manage your company’s payroll.
While most owners find themselves in a pickle when forced to decide between the two, Consultants In-A-Box is here to change that perspective and provide reasonable solutions to your payroll challenges. We’ll become the payroll assistant you’ve always wanted!
When Is It Time for Help?
We assist you with every part of the payroll process -- not just the part where you pay your employees. New hire paperwork, W-2s, quarterly payroll taxes, and much more are required on a consistent basis, taking away even more of your time.
We’ve helped many companies -- just like yours -- solve their payroll issues and we understand the biggest warning signs when it comes to needing payroll help. Let’s take a look at some of those warning signs, that way you can avoid disaster with your own business.
1. Late Payday & Tax Forms
Paying your employees late because you were too busy with other work or didn’t have enough time to process them sooner is unacceptable as a business owner. Your employees depend on receiving their hard-earned money on-time and won’t settle for anything less.
While timing is important with paychecks, it’s also important to the employee’s W2s and 1099s, which need to be sent out in a timely manner so the employee can file their taxes properly. Failing to send them on-time will surely lose your employee’s trust.
2. Payroll Errors
Errors in payroll are never welcomed and put your employee in a tough spot. Spelling their name or address wrong on the check can cause delays when cashing the check. Furthermore, the wrong amount in the check leads to distrust and more delays.
If errors are plentiful when processing payroll, consider finding a payroll assistant or software. They’ll help cut down on the mistakes and ensure everything is handled properly and accurately.
3. Missed Tax Deadlines
Constantly missing tax deadlines can result in some serious fees and charges against your business. These are an important part of owning a business and something most people aren’t aware of before they start a business.
The last thing you need is the IRS on your back. Talking with a professional ensures you know exactly how much to pay, when to pay it, and how to pay it so your business remains in good-standing with the IRS.
4. Depleted Cash Flow
Cash flow is essential when processing payroll. Without the money, you can’t pay your employees. This is the worst case scenario when doing payroll because it brings the entire process to a halt -- even if you’re ready to complete it.
If you’re having issues in this area, payroll software can help you stay better organized and ensure you have the necessary funds when you need them. You won’t need to rely on loans to pay your employees anymore and can start to build a level of financial stability.
5. Hourly Employees
Hourly employees present a wide range of difficulties without the right tools or resources. Especially in today’s digital world, technology is your best friend when taking control of your hourly payroll. If you’re having a tough time accurately keeping track of hourly employees, a payroll software or assistant helps you stay diligent.
At the end of the day, payroll should be an easy process for the owner that requires minimal work and more reviewing than anything. You shouldn’t be running into issues left and right. If you are, it’s time to search for some help -- and there’s no shame in that. It’s a smart move!
Are You Ready to Save Your Payroll?
A quality, smooth, and accurate payroll process is essential to a business. It keeps your financials in order, it keeps you prepared, and leads to more employee loyalty -- which benefits your business in so many more ways.
If you need help keeping everything in check, there are three quality options you can consider immediately -- outsourced professional, payroll software, or both.
The payroll software will make things easier for anyone, whether you’re taking care of the payroll yourself, already have a payroll team, or plan on hiring one. Outsourcing your payroll to a professional might cost money each month, but it’ll add time to your day and accuracy to your books.
Of course, the combination of both is what puts your business in the best position to succeed. Choosing a professional who knows your payroll software is important, but having a professional with their own solution is even better.
When you’re ready to save your payroll and prove to your employees that your company can be a reliable place to work, contact Consultants In-A-Box today to be connected with one of our highly-rated professionals.
- Consultants In-A-Box