Today many companies are choosing to outsource their payroll processing and there are many viable reasons for this.
Payroll processing can be time consuming, involve supervision, and can take up a lot of management’s valuable time. This is especially applicable where there are many employees to pay. Payroll involves wages due, UIF, PAYE, etc. There are also other factors involved such as retirement plan deductions and in some cases contributions to medical aid. This can become a time consuming task which can steal valuable time that could be spent on increasing the company’s revenue.
Companies that provide payroll services are experts in the field with employees who ensure that the job of payroll is done correctly, accurately, and on time. There is no need to stress to get your employees paid. The payroll company is up to date with the latest statutory changes and deductions. They would be able to customize a solution based on the company’s needs. Different companies have different requirements for payroll. There is often a difference in payroll requirements from a corporate environment company compared to workers in a large manufacturing environment. Perhaps you need a payroll service that requires monthly, bi-weekly, or even a weekly payroll cycle.
The Payroll Company will prepare all electronic transfer files for employee’s net salaries/wages as well as prepare and distribute pay slips either electronically or in hardcopy. Don’t have a Payroll service yet? Maybe you should consider it.
