A: You should outsource your Payroll function To SAVE TIME, MONEY, and AGGRAVATION. Time spent on payroll, managing considerable amounts of data and ensuring no miscalculations are made, is time taken away from the core tasks of your business that allow a business to grow and usually what the business enjoys more.

Hiring an outside firm ensures consistency, expert-level knowledge, as it is that firm’s core competence, minimizing the threat of employee theft as no important information or payments are handled or distributed by someone who could benefit from having that information or access, and the peace of mind knowing that someone is dedicated to working on your payroll and will process it properly.

A: You still must do your due diligence, but, in general, you are hiring an expert in the field who doesn’t need to be trained or have the distractions of an in-house employee. Employees working on financial information from home might not have all the safeguards and protection for their personal computers.

Accounting from an outsourced firm is fully insured and is more accurate with Reports and Financial Statements being turned around quicker for outside projects, such as Funding and/or Tax Preparation–exactly as the 3rd Party needs them formatted and reported. There is a higher level of knowledge, as well as confidentiality and cost savings associated with an employee, such as training, Payroll Taxes, Worker’s Comp, and Benefits, as well as other overhead expenses.