5 Benefits of Using a Payroll Service

Is payroll giving you a headache? Keeping track of tax regulations and crunching numbers while staying on top of other responsibilities can be stressful and time-consuming. Fortunately, payroll services can help organizations stay on top of these essential business details and more.

What is a payroll service?

A payroll service is a company that processes payroll calculations, payroll tax statements, year-end tax statements, and more for your company. Some full-service payroll companies also handle deposits, withdrawals, wage garnishing, and new-hire reporting. Comprehensive services offered by companies that provide payroll services can include:

  • Time and labor
  • Applicant tracking
  • New-hire onboarding
  • Workers’ compensation insurance
  • Human resources assistance
  • Health insurance
  • 401(k) plan services

The number one benefit of using a payroll service is that it allows you to focus on growing your business while experts handle crucial, yet laborious, payroll duties. Outsourcing the burden of dealing with payroll processing and taxes can enable organizations to focus on achieving business goals. Other benefits include:

1. Convenience.

Once you send the payroll service all your company’s information, it will handle everything else. Often information can be updated quickly and easily online, and payroll will proceed seamlessly with no stress or strain.

2. Accuracy.

Even minor errors in payroll can cause huge complications. If you aren’t used to running payroll or calculating state and federal taxes, the process can be time-consuming and trying. Companies that offer payroll services will process your payroll accurately and prevent unhappy employees, fines, and penalties.

3. Speed.

Payroll services are accustomed to processing payroll and can do it more quickly than less experienced businesses. When time is money, speed can make all the difference.

4. Compliance.

Knowing federal and state laws is critical to correctly processing payroll. Payroll services stay up to date on federal and local regulations and will ensure that your business remains in compliance.

5. Saving Time.

Imagine what you—or your employees—could do with the time saved by hiring a payroll service. Allowing experts to handle payroll can give you the luxury of time to pursue other business goals while knowing your business is in good hands. You won’t have to be bogged down by increasingly complex demands or keep up with changes in payroll legislation.

Need help processing payroll for your company?

Prosum offers payrolling services to our partners. Our approach is designed for scalability and flexibility, so no matter what size your company or what industry you are in, we’ll help you achieve your goals by offering support where you need it most. Plus, Prosum can onboard a contractor within 1 business day so you can grow your business as fast as possible.

Let us crunch numbers and calculate taxes while you focus on what your business does best. We can match you with experienced technologists and we can handle every aspect of the payroll process. We can also simply handle your payroll. Count on Prosum for help with your business needs!

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