Outsourcing payroll can save firms big headaches

Of all the tasks that business owners must manage, payroll can cause the most headaches. A single missed Canada Revenue Agency remittance can spark big financial penalties. That’s why many companies contact Scalability for help.

“Entrepreneurs often become frustrated trying to do payroll,” says Rustin Smith, CEO of Scalability, the cloud-based bookkeeping service based in Toronto and serving the GTA and southern Ontario. “Once they see all the benefits of outsourcing payroll, they usually turn to us for bookkeeping services as well.”

Here are the top five reasons that small- and medium-sized businesses choose experts like Scalability to manage payroll:

1.       It saves you time that you can devote to more important tasks, like growing your business. Payroll can be complex and it’s easy to spin your wheels as you try to navigate on your own.

2.       The software automatically calculates CPP, EI and tax deductions. If the government changes the rates, cloud-based payroll services update them right away.

3.       Your team members are counting on you! It’s important that they be paid accurately and on time. You don’t want the grief of an employee complaining that you have made an error in calculating their pay.

4.       Scalability’s cloud-based payroll service offers direct deposit – the funds are automatically deposited into each employee’s bank account. There’s no need for you to issue a cheque or for staff to deposit it. Employees love it!

5.       The payroll service takes care of government remittances of payroll taxes and income tax withholdings. The Canada Revenue Agency frowns on businesses that fail to file on time, which is why having a payroll service makes sense. If you are late in filing, CRA can hit you with a penalty of 10 percent or more.

At Scalability, Rustin uses cloud-based payroll software WagePoint, which already has more than 12,000 clients across North America. WagePoint is specifically designed for small and medium-sized businesses looking for a human-friendly and easy-to-use system.

“After you start working with a cloud-based payroll service like WagePoint, you will wonder why you ever tried to do payroll on your own,” Rustin says emphatically.

Scalability serves small and medium-sized firms that want to grow their business, not their office. Based in Toronto, Scalability offers cloud-based bookkeeping services to clients in Toronto, the GTA and across southern Ontario. Rustin offers a free consultation – learn how Scalability can solve your bookkeeping and payroll challenges. Contact him at support@scalability.accelo.com