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Pt. 5: Why You Should Outsource Your Payroll

This is part five of a five part series by Kevin J. Harris, the founder of QuickSolvers Inc, which provides accounting, consulting, and QuickBooks training to small businesses.

Many small business decision makers attempt to save a few bucks by keeping payroll in-house. This is Most Common QuickBooks Blunder #5, but it is by far the most costly error of the bunch… and it isn’t specific to QuickBooks users only. All small businesses, unless they are in the accounting services industry, are better off outsourcing payroll.

This is not my opinion. It’s fact.

Payroll services are comprehensive and streamlined these days, and are available to businesses at extremely inexpensive prices. If your business is located within one state, has around 10-12 employees & contractors, and runs payroll every other week, then your payroll fees should land right around $100 per month.

Two states and 25 employees? Around $200 per month. This includes direct deposit, facilitation of all payroll tax filings and electronic payments to the government agencies, and any other company specific deductions & additions.

But it doesn’t end there.

Today’s best payroll systems are web-based where employers and employees can view their information online, and all transactions can be downloaded directly into most of the common used accounting software packages, including of course, QuickBooks! No journal entries, no constant reconciliations of payroll liabilities, no errors in tax filings, and no wasting of time! All you do is tell your service who to pay, and when. We… I mean they… do everything else. For a small monthly fee. Did I say that already? If your payroll service is not providing all of these bells & whistles, then your money and time is being drained for no good reason.

If you don’t currently use a payroll service at all, then your employees’ time is not being utilized to its potential. If you’re going to outsource one single financial task, payroll is your best option.

To contact QuickSolvers for an obligation free quote, email payroll@quicksolvers.com or 773-909-2464.

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