Most of those who own and run their own small business are also usually solely responsible for the payroll of their company. If you fall into this category, then here are a few reasons that you should look into outsourcing your payroll to make your life a little bit easier.
1. Though you might not realize this, taking care of payroll in a business do far more than just cut checks. Business owners who manage their payroll in house are tasked with responsibilities such as totaling hours, performing gross-to-net calculations for each employee, calculating and depositing payroll taxes, and preparing and filing tax returns accurately and on time.
2. Small businesses, those with fewer than 50 employees, are the most likely to benefit financially and otherwise by outsourcing HR and payroll needs.
3. Not all of these services will translate to different countries. For instance, payroll and HR management in Canada is very different than in the United States. This is largely due to very different laws and regulations that are required in each country.
4. Payroll services providers can also provide ongoing HR support, guidance, and expertise when dealing with the most sensitive employment issues. These are especially important when you think that you might have sensitive payroll related issues to have dealt with.
5. Payroll processing services that are based in the United States can easily make very costly mistakes managing and paying their Canadian employees by inappropriately relying on erroneous practices and misinformation. If you are a small business in Canada, then your best bet is to either find a company in Canada, or an U.S. company who has experience and expertise working with Canadian laws. Continue your research here.