Anyone that runs a small business in Broken Arrow knows that you have to wear a lot of “hats” to stay in the black. It would be great to hire someone to do perform every single task that needs doing in a company, but that’s not always financially feasible.
However, when it comes to handling payroll duties, this might be the time to stop, take stock, and seriously think about letting a professional take over. If you’ve seen or experienced five of our signs, you may need to get payroll services instead.
1 – Mistakes Are Piling Up
When it comes to making sure that both your valued employee and the IRS are getting what is legally required, this is one thing you don’t want to make an error on. But with the rush of other things that often happens over the course of a working day, week or month, you may find mistakes are creeping in. If those mistakes are starting to happen on a regular basis, this means you have to stop, drop everything, and attend to the mistake to fix it. Too many mistakes can hurt your business.
2 – You’re Losing Time
Doing payroll is a tedious, time consuming but necessary activity. If it’s taking away from your business efficiency, then payroll services can help. This is especially true if time wasted doing payroll is wasted even more by having to drop everything to correct payroll mistakes. When that happens, it’s not just a waste of time, but can hurt your finances.
3 – Compliance Is Intimidating
There are often a lot of tax regulations that you have to keep in mind in order to stay in compliance at the local, state and national level. These requirements for compliance aren’t static either; there are always changes being made to tax laws and employee requirements. If you’re finding the need to stay informed with compliance is starting to overwhelm you, payroll services can help.
4 – Your Information Is At Risk
Maybe you’re the one handling payroll, or maybe you’ve handed it off to another employee who is “good with numbers” but isn’t necessarily a certified professional accountant. That means that a lot of sensitive information, such as details of other employees, including social security numbers, is being accessed. If you want to make sure that all this information is handled professionally, by people with ethical and legal obligations, payroll services can provide this.
5 – Organizing Information Is Difficult
It’s not just company spending that needs to be properly documented, all employee classification, payment, and records have to be kept in order. The number of employees you have doesn’t affect the depth of information required, so the more employees, the more information you need to keep properly organized both for your own benefit and for proper compliance with tax regulations. Payroll services can be invaluable in making sure these records are kept up to date and accurate.
We Make Things Easy
For professional, experienced payroll services, Shockley is here to share the load. We have the local experience, professional expertise to help your Broken Arrow business stay ahead in the payroll department. Let us keep your salaries organized, while you concentrate on growing your business. Call us today at (918) 615-8380 to get a FREE quote and consultation.