Outsourcing payroll: Get the best of both worlds
January 6, 2009 by Jennifer AzaraPosted in: Communication tips, Efficiency, In this week's e-newsletter, Latest news & views, Management issues
One of the critiques of third party payroll providers: not enough detail in reports. But don’t bring everything in-house just yet. There is a way to gain more control without taking on the “manual labor.” Here’s how:
Especially now, companies want as much control over their budgets as possible. Completely understandable. You certainly can’t afford to step out of compliance with tricky and ever-changing tax laws.
So, what do you do if your payroll outsourcer isn’t giving you as much info as you’d like? One company we know toyed with the idea of bringing payroll in-house. Then it came up with an alternative.
It started subscribing to payroll tax updates over the Internet. You can get them from your third party provider for a fee and there are plenty of other resources out there, like the American Payroll Association and your state’s Web site.
That way you can be confident your organization isn’t missing any critical updates. After all, no matter who does your payroll, compliance lands squarely on your company’s shoulders.
And you can still outsource as much of the actual processing as you’d like, so you retain the efficiency boost you were after in the first place!
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Tags: American Payroll Association, compliance, Outsourcing payroll, Tax laws, Third party payroll providers
January 7th, 2009 at 3:55 am
thanks for the heads up. It is really amazing.