If you’re a small business owner, perhaps you know the feeling: the creeping sense of dread that grows as you inch closer and closer to payroll processing time each month. Processing your payroll involves tracking and re-tracking details, keeping up with evolving compliance, and ensuring accurate payroll tax filings. You know that mistakes can be costly, as even inadvertent errors can lead to steep fines at tax time. Maybe you delay starting the task which leads to frantic late-night accounting work as you race to pay your employees on time. Talk about stressful!
Plus, each minute you’re handling payroll means a minute not spent with employees, customers, or creative work. Payroll is by nature time-consuming. As a business owner your time is precious, and it can feel like there’s not enough of it to go around. It’s no wonder that small business owners struggle with payroll procrastination and dread. If this sounds like you, consider these tips to conquer payroll procrastination once and for all.
Identify Your Primary Pain Points
Take 10 minutes to brainstorm the top three obstacles you face with payroll and write them down. Maybe it’s your manual payroll process, or perhaps it’s the endless salary calculations. Maybe you’re dreaming of having some time back in your schedule or you’d just like a professional advisor to call with questions. Getting clear about your payroll needs is the first step to making payroll more efficient.
Define Your Budget
If you’re managing payroll by yourself, it’s likely because of budget constraints. It’s a tension many small business owners manage, but don’t forget that your time is money too. Hiring a professional can seem like an extravagant expense but consider the ways your business could grow if you had more hours free in the month. Determining a workable budget will help you choose the right level of support for your needs.
Determine What Level of Support You Need
Now you have all the information you need to make a confident decision about hiring professional support. Maybe you’re not ready to hand over the reins of your payroll, but you’re interested in phone and email support from a trusted expert. Perhaps having your payroll workflow analyzed and streamlined could save you hours each month. Lastly, many accounting firms offer fully outsourced payroll services, giving you the ultimate freedom and peace of mind. Call your local accounting service to find out what’s best for you.
Let Us Help!
Need help with your payroll? Neely’s Accounting has been supporting Roanoke, VA small business with their payroll needs since 2007. Our clients love us because we offer big-city services with hometown values. Contact us or visit one of our convenient locations today.