As a small business owner, you need to save costs where you can. When you don’t have a large staff, you try to do everything yourself. It sounds good in theory. If you can handle the work yourself, you don’t need to hire anyone to do it for you. You might be thinking of the money you’ll save if you do the work yourself but you lose more than you realize. And i’s not just sleep and time with your family.
Time to Focus on Your Business
Payroll might be an important function of your business but it doesn’t increase sales or productivity. It’s a core function that has to be done but doesn’t contribute to growth. When you work with a payroll company, you have more time to market your product, increase sales, and build your business.
Working on payroll yourself means you have to spend valuable time worrying about paying your taxes, staying compliant, and making sure your payroll is accurate and paid on time. It’s a big job and takes up more time than you realize.
Access to Expert Knowledge and New Technology
As a small business you know what it means to learn on the go and choose basic function over new technology. For much of your business, you just need something to work and get the job done. That’s not always enough, especially in a time when employees expect more from the company they work for.
When you work with a payroll company you not only have direct access to the years of experience, but also our understanding of local and state legal requirements. A good payroll company keeps you in compliance. At the same time, you and your employees can take advantage of technological advancements in how payroll is processed and accessed. Direct deposit, mobile technology, and other technology is available to you through your work with the payroll company.
Reduce Your Costs and Your Risks
Payroll might not do anything to increase sales and production, but it can kill your bottom line. A payroll company, like Charlotte Payroll, provides more accurate timekeeping, keeping you from overpaying your employees. You’re also able to track employee time more accurately so you can see where, if any, time is wasted.
By understanding the laws and regulations better and staying in compliance, you’ll avoid violations that can cost hundreds, if not thousands, of dollars. You won’t have to worry about problems with payroll at the end of the year with the IRS or in an audit.
As a small business with a small staff, what you really need is a team of experts to help you navigate important tasks that directly impact your company. Think of your team like the Justice League of small businesses: you need an accountant, an attorney, an insurance agent, and a payroll company. Each one keeps you safe from potential harm and uses their powers for good, on your behalf.
Are you ready to add a payroll company to your team of business superheroes? Charlotte Payroll is here to help you focus on building your business. Contact us today at 704-887-5511 and let us show you how we can help you.