Running a business takes a lot of work, and a lot of attention to detail. There are so many factors that go into keeping a business ticking smoothly and efficiently. Sometimes, the best way to ensure the quality of work you expect from all of your employees, and the peace of mind that you have everything covered, is to consider outsourced payroll solutions. A payroll outsourcing provider will take some of the workload off of you and your staff, and simplify the process of getting your employees paid. It is also an ideal payroll solution if you are working with international employees, who may be under different taxes and laws. For example, a lot of companies in the United States are leery of expanding across the northern border into Canada, despite promising opportunities for the business, on account of the fact that there are jurisdictional differences between the neighboring nations.
What all does payroll entail?
Payroll consists of quite a bit more than just writing and distributing checks. Owners of the business who take on payroll themselves have a lot to think about.
- Counting up hours
- Calculating gross-to-net amounts for every single employee
- More calculating, in order to deposit payroll taxes
- The preparation and filing of taxes, in an accurate and timely manner
Payroll processing can be quite intricate and complex, and there are risks that can end up being very costly if mistakes are made. A payroll solution company that takes care of that lengthy list, and possibly more, like Human Resources services and employee benefits, allows the business to focus on what is most important: the core of their business!
Working with international employees
In the example of hiring Canadian employees for your company, it can be daunting to attempt to figure out the payroll and HR ins-and-outs of non-U.S. citizens. Canada has more than 190 strict requirements involving payroll processing. It can seem quite the challenge for businesses in the Unites States to be absolutely sure that they’re within Canadian compliance when writing paychecks for their Canadian employees, as Human Resources management, including payroll, is quite different between the two countries, a result of different regulations and tax laws. However with payroll outsourced to a company specifically built to manage just that, you whittle all the paperwork down to one report that needs approval, and one invoice to pay off. In addition, the government in Canada offers regularly payroll deduction information to help business owners deduct the appropriate amount of taxes from each staff member’s check.
Hiring international employees doesn’t have to be a costly, confusing nightmare. With the right payroll service provider, you can focus on the important work at your company, and diversifying your staff with potential employees from around the globe!