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:
In-house payroll gives your business full control over all decisions, actions and changes that often arise when processing payroll.
Gain deeper insight into all employee and payroll-related operations to make more proactive and profitable decisions.
In-house payroll can reduce costs and provide more flexibility to adapt to changes.
But what about tax filing? What many companies really want is control over payroll processing, but assistance with tax filing. The good news is you can have the best of both worlds.
The Win-Win Solution: You Do Payroll, Outsource your Tax Filing
Your business may fall under the jurisdiction of multiple governmental agencies, from city to federal agencies and anywhere in between. Larger businesses may have to report in multiple states. You may have to comply with ACA regulations and reports on top of that. Your payroll specialists are not tax experts, but the company wants to bring payroll in-house. How do you balance all this?
Penalties and audits are never fun! That’s why Integrity Data offers hassle-free tax filing services for both our GP payroll solutions and our Payroll NOW solution for Dynamics 365 Business Central. It truly is the best of both worlds when you can maintain full control of your payroll while ensuring all your tax and ACA filings are accurate and timely. It’s simple and stress-free.
Next Steps to Bring Your Payroll In-House
The best way to see if in-house payroll makes sense for your business is to talk with one of our payroll experts. Whether you use GP or Business Central, we can show you how our solutions work with your system, automate payroll processes, and eliminate the risks and stress of tax filings. Get in touch and let’s talk about your payroll wish list.
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