You may think that doing your own payroll for a few staff can save money, but you should save time for your business.
Time Taking Task:
Obviously, if you are from a non-finance background then you need to spend more time to calculate the work hours, and deductions, setting up the pay in the Bank, sending payslips and filing it for STP.
Even if you are from a finance background, do you want to spend your precious time on payroll instead of your business activities?
No Learning Required:
As discussed earlier, you don’t have to learn the tax-related adjustments and other benefits by spending your precious time. You will end up in self-learning and there are chances for mistakes.
You can allocate this to a Payroll Specialist, who knows everything about payroll including Leave Calculation, Commission and Bonuses. You can focus on business growth.
Not Cost Effective:
The problem with small business owners is mostly they want to do everything by themselves. They don’t remember that Time is Money. Payroll is a small part of Business Activity. The owner must utilize their precious time for the growth of the business.
The owner isn’t aware of the payroll mistakes and non-payment of Superannuation and GST will end up in penalties. You should have a payroll specialist to avoid these mistakes and penalties.
If you can’t afford a full-time payroll staff, then you can come to us for payroll. We will take care of all the payroll and related activities.
Credits:
Naveen A
OSS & BK Team
