Outsourcing payroll functions is the perfect solution for businesses as processing payroll in-house can be daunting – it even increases the likelihood of mistakes and penalties. When selecting between paid payroll services of a payroll processing firm and a free app, there is a need to understand the needs of the business.
Which features for payroll processing are necessary? The answer to that is the key to making the right selection. If cost is your primary concern and you think you have no choice other than a free app service, then it would great for you to know the features that you will get and the ones that you will be missing out on.
Payroll app: what is it?
A payroll app is basically a payroll software tasked in automating certain payroll functions. A payroll app will allow the user to set the processing of payment for all employees, implementing pay schedules, entering data, filing benefits, and, of course, calculating wages. It is online, which means it offers the advantage of accessibility from anywhere so long as there is an internet connection.
Both the convenience and accessibility of a payroll app provides the employees and employers alike flexibility and autonomy. For example, if employees forget in filing requests for overtime while they are at the office or workplace, then they will be able to take care of the task on the way home with the system connected on a smartphone.
Payroll service: what is it?
A payroll service provided by a firm that specializes in payroll processing can take the task of completing payroll duties off from your shoulders, giving you the assurance that all forms are filed and filled out accordingly. As a bonus, it saves you time and lets you focus on your business. A payroll service provider can manage all the aspects related to payroll processing. A firm may even handle your human resource functions, too. Experts will manage all calculations and payment processing for you.
The primary difference between the two options is, obviously, the cost. Utilizing the experience and expertise of a payroll processing company in managing the payroll of your business isn’t free. As for a payroll app, it is less expensive as the responsibility in entering data will fall on you. The latter also doesn’t address all the needs of a business for payroll.
What are the advantages of using a free payroll app?
The benefit of a free payroll app is you won’t have to cash in. When you’re looking for one, especially in managing information that is as sensitive as the financial data of your business, you have to make sure you research and do your homework!
We suggest you ask for references and speak with at least three companies. However, there may be a problem with this as free apps usually don’t provide customer support. After all, you are utilizing their services for free.
If you are just starting out and your business has only been run by you for a couple of months, then a free app will be a tool that is good for you to use. The assistance in the administration of payroll will be very useful at this stage. It will free up resources and time for you, so you can focus on the more crucial tasks that will grow the business.
A free payroll app typically comes with tools that can calculate wage garnishments and benefit deductions. Features such as this will ensure the information of your business is analyzed accurately. It can also help you check that you are complying with existing laws surrounding labor and employment, preventing you from acquiring fines and violations.
If you are interested in using a free payroll app, remember that you’re compromising your confidential information’s security. Payroll apps may be glitchy – they are not also providing security measures for data breaches as well. This means online hackers have easy access to your business’ key data.
You may also read: Payroll Outsourcing Services in UAE
What are the advantages of hiring an outsourced payroll processing firm?
A staple rule whenever you purchase something is you’ll get what you’ve paid for. Features of payroll processing services can vary and you may discover some that your business actually needs. Paying experts in handling crucial HR functions such as payroll processing will give you flexibility in choosing only the services that you need. In some cases, the option can even help you with saving money.
The most important reason as to why it is recommended to hire a firm for payroll is it offers higher security, making it a smart investment. A firm can protect the sensitive information of your company, preventing theft or embezzlement.
Apart from heightened security, a payroll processing team backing up your business operations will also make the process easier. You can get a guarantee for timely workers’ compensation payments, bookkeeping assistance, and labor law compliance among others. Depending on the kind of business that you are running, you can tailor the service that you acquire simply by talking to experts.
Communicate your needs to us today. Initial consultations are free!