Processing payroll does not have to be the headache it used to be. The advances in information technology and payroll outsourcing allow payroll to be executed through a clean and seamless process, with organized documentation to substantiate the transactions.
Generally, smaller businesses with very few staff can handle payroll on their own with our guidance and support. However, in our experience, the appeal of a more efficient and simpler payroll process becomes attractive, once clients see the benefits. At this point, the client outsources their payroll function to a payroll processing firm (e.g. Ceridian). Using a payroll services company is simply more efficient, organized, and cost-effective than using an accounting firm or payroll software to complete the payroll function.
How you benefit by outsourcing your payroll?
- Reducing, if not eliminating, the risk of late remittance penalties from CRA
- Online portal allowing for mobile access
- Clear and organized documentation to substantiate payroll transactions
- Preparation of T4 slips at year-end at a fraction of the cost of what an accounting firm would charge
Articles that might be helpful:
If you’re interested in getting a more detailed understanding of how outsourcing payroll can save you time and money, read the following articles — authored by Hussein Kanani, CPA, CA.
Benefits of Outsourcing Payroll
Payroll cost reduced by 43%