Problems and How to Solve Them
Payroll can be incredibly complex, even if you only employ a small number of people, and without professional intervention and assistance, mistakes can easily occur, and problems can quickly build up.
Listed below are 5 very common problems that most small business owners will have faced when attempting to manage payroll without professional help, along with some solutions:
1. Being overwhelmed with paperwork
With a lot of small businesses still processing payroll manually and in-house, paperwork can quickly become an overwhelming burden. Without integrated payroll software and/or help from a third party payroll provider, manual processes can become a real headache, and costly mistakes may occur more frequently.
Try outsourcing your payroll management, and avoid being overwhelmed with paperwork.
2. Suffering organizational issues
While it is possible to have an in-house payroll team keep important payroll and employee records organized in an effective and accurate manner, payroll software and/or outsourcing can help eliminate all filing and organizational issues, and make it less of a worry for everyone involved.
3. Software that isn’t compatible
Not all payroll programs are compatible with one another, and you may find that a program you use for employee records, is different from the system you use for pay and benefits, for example, leaving processes feeling fragmented and hard to track.
Software that integrates all these functions (or working with an outsourced payroll provider who automatically use such software), can streamline all of your processes and minimize the amount of time spent tracking and inputting data. In fact, it may even make your entire department and company, more efficient and cost-effective.
4. Not being able to track employee absence effectively
There is the potential to make a lot of mistakes when small businesses choose to manually track their employee’s vacation and sick days, and paper time cards (and even some digital time sheets) are renowned for being misused or for causing unintentional errors. Not only that, but it’s hard to plan properly without knowing what employees are available at any given time or day, and which are not.
Time keeping that is systematically recorded with the help of an outsourced payroll provider, can eliminate all potential problems with employee tracking.
5. Issues with compliance
New laws are often being introduced that affect small businesses and the way in which they employ and pay workers, and if you’re not in compliance with them at all times, it can result in government investigations and some pretty stiff penalties.
With the help of an outsourced payroll provider, however, you can be relieved of the burden of ongoing and changing compliance demands, and mitigate the risk of investigations and costly penalties.
Many small business owners are reluctant to spend money on something like outsourcing, seeing it as an expense instead of the investment that it really is. Outsourcing such an important function as payroll often frees up valuable time and resources within a business that could be put to better, more profitable use, and few business owners who choose to take advantage of outsourcing, regret their investment.
Are you ready to invest in your company’s future?
Apollo Payroll is dedicated to delivering expert advice, responsive service, and highly accurate payroll processing and reporting to ensure the success and growth of the business that we serve. Our services include comprehensive payroll services in Homestead and other cities in Miami-Dade County, employee background check and group health insurance in Miami & Coral Gables