Let’s face it, keeping up with all the issues regarding payroll is more complicated than most people realize. Time-consuming tasks from determining wages and withholding taxes, to updating vacation and sick pay, and deducting employee-contributed payments for benefits can create major legal, compliance or tax issues if not managed correctly and consistently. The two obvious choices for payroll processes are pretty simple: process internally or outsource.
Outsourcing makes the most sense:
- In-house technology advocate. Helps coordinate and problem solve.
- Compliance entails a complicated array of state and federal legal obligations. LassiterWare conducts the necessary research regarding changing regulations, withholding rates and government forms, while maintaining the latest versions of payroll software.
- Tax regulations are constantly changing, making errors more prolific.
- Reporting is a tedious process involving earning statements, time sheets, retirement services and monitoring.
- Tracking new hires and terminations.
- Enhanced security is critical to protect against identity theft, embezzlement, tampering with personnel files, or making sure payroll data is secure on the company’s server or network.
- Timely custom reports and check reviews.
- Providing direct deposit eliminates error-prone paper handling and reduces the risk of fraud.