When it comes to paying employees, the country’s laws made the payroll function a time-consuming nightmare for the small business owners.
In Trinidad and Tobago statistical data has shown that small business owners spend an average of eight (8) hours a month performing payroll functions. That’s twelve (12) full working days a year that could be spent generating Sales, Prospecting new business opportunities, Improving products or Services, or Servicing customers.
WHAT IS PAYROLL?
Payroll is usually defined as the total number of employees paid a salary through the company.
WHAT IS PAYROLL MANAGEMENT?
Payroll management refers to the administrative process of financial recording of an employees’ salaries, wages, deductions, bonuses, and net pay and may extend to other HR related obligations such as vacation, sick leave, casual leave etc.
THE BENEFITS OF OUTSOURCING A PAYROLL EXPERT
Many small businesses may not see the need in hiring/outsourcing a payroll manager/expert, however it’s extremely beneficial to your business because:
It’s cost effective – Use your staff more efficiently by letting Robley Baynes handle payroll. Reduce overhead expenses by removing the need to hire specialized employees.
It’s a Time Saver – Our payroll service eliminates the burden of customizing, updating, and maintaining your own payroll system-no more data entry, no more worries.
Worry Free Payroll Tax Filing – Eliminate the risks of calculating and filing your own payroll taxes by having professionals do it for you. Local payroll tax laws are frequently changing and may become more complex.
How much time do you want to spend learning all the rules and keeping your information up to date, whilst you can spend that same time period on business operations and maintaining your customer happiness?
Allows You To Focus On Core Competencies – Our professional staff allow you to focus on the core competencies of your business. We are accounting professionals-you get the experts working for you and alongside you.
Comprehensive Reports – You get a wide variety of user-friendly and accurate payroll reports through a certified and organized payroll operative system.
Stay tuned for part 2 of this blog where we tell you about the services we offer and how we can assist your HR and Payroll department.
Streamline Payroll Processes and keep your employees happy contact us today 1 868 29-1509 or firstname.lastname@example.org .