It’s impossible for a business owner to manage all areas of a business effectively. It’s all too easy to become caught up in the thick of thin things and believe that nobody can do things as well as you would do it yourself. But knowing what to delegate and to whom is what separates a good business person from a great business person.
A recent review of some of the more progressive businesses highlighted that an understanding of the core strengths of the business and the team is essential for continued success. It’s important to differentiate the unique strengths of each business and ensuring those strengths impact on the bottom line.
Meanwhile, business administration must continue or the business will not operate efficiently. Customers have to be invoiced, maintenance has to be done and people have to be paid. But is calculating payroll tax the most efficient use of your time? Payroll is a repetitive and time consuming back-office activity bringing little if any real benefit to the bottom line. Yet all too often people underestimate the importance of having the payroll processed by someone who specializes in that profession.
Payroll taxes account for more income to the Irish Exchequer than Corporation Tax and VAT combined. Yet few, if any business managers will entrust those taxes to just anyone. So it makes sense to ensure your payroll is processed by a professional – someone who can ensure that you are getting the best outcome for your money and for your employee’s money!
Payroll outsourcing provides the perfect solution for many organisations. Their expertise and experience can bring real savings by having your payroll structured for maximum tax efficiency, not to mention avoiding penalties, interest and fines for late or incorrect submissions to the Revenue Commissioners. Availing of the economies of scale offered by payroll providers makes economic sense but ensuring a compliant, transparent and effective payroll system is also imperative to the long term success of the business.
Different payroll companies will offer different service levels but it’s really important to check that the provider you choose is reputable and has the expertise and capacity within the organisation to deal with your payroll needs. Paycheck Plus is Ireland only award winning payroll outsource provider for the Small & Medium Sector. For details of their services check out www.paycheckplue.ie today or speak to one of their team on +353 (0)41 686 3000.
Paycheck Plus – Making Payroll Easy.