11 Feb Outsourcing payroll makes sense even when you have a single employee
Business start-ups often consider payroll to be something to worry about later down the line.
Payroll management seems like the preserve of large companies with multiple departments – so you, an entrepreneur with a single employee don’t have to worry about it, right? Wrong! It makes sense to get your payroll managed correctly, right from the start. Here’s why.
Avoiding payroll mistakes
Payroll can be a complex process, even when you’re only managing the pay of a single employee. It takes time to ensure that potentially costly mistakes are avoided, and this is time which is at a premium when your business is just getting started. Payroll problems can lead to a variety of issues – potential fines/legal action, employee mistrust and difficulty in hiring, and ultimately it makes you look unprofessional, damaging your prospects.
When you deal with an accountant that’s experienced in handling payroll, it becomes something that is handled regularly on your behalf without requiring any further action from you. This leaves you free to focus on running your business, safe in the knowledge that you’re meeting all necessary legislation and guidelines regarding employee payment.
Establishing a framework
If you have ambitions to grow your business, you’ll at some point want to take on more employees. As you do, naturally, the difficulty of handling your payroll in-house becomes even more pronounced, and the potential for making costly mistakes becomes greater. Handling payroll requires a framework and a logical system – which a specialist accountancy firm, such as SQK Accountancy can help you to establish.
This framework will be designed with expansion in mind, allowing you to easily take on new employees and integrate them into your payment process without any difficulty. As your business grows and your needs develop, you want to be in a position where you can hire the people you need without any barriers in the way. Payroll is one of the biggest sticking points, and help from an external specialist can help you manage it.
Contact the professionals
For any more help or advice, or to arrange payroll services for your small business, contact the specialists at SQK Accountancy today. We’re small business experts!