Benefits of In-House Payroll vs. Outsourcing Payroll
When you are deep in the trenches of tax season, accounting departments everywhere are scrambling to prepare the right documents for employees and governmental agencies as quickly and accurately as possible. It’s a hustle every year and a high-pressure situation for even your most seasoned accounting professionals.
One of the biggest questions companies face is whether to outsource payroll or not. There are pros and cons to in-house payroll vs. outsourcing payroll, but one of the biggest sticking points is that while you might pay for a payroll service, you still need to prepare the data and send it to your payroll service. The argument becomes—if you’re already doing that then why not save the expense and just process it yourselves?
Outsourcing Payroll Often Comes Down to Tax Filings
Many businesses choose to outsource payroll for one reason—tax filings. It can be a high-pressure, time-consuming situation that puts accounting departments on edge. But, did you know that there are payroll solutions for Microsoft Dynamics that let you keep control of your payroll in-house but have your tax filings prepared for you?
Why choose in-house payroll vs. outsourced payroll: