DIY Payroll Processing, you probably shouldn't

If you are a small business owner, you know that processing payroll can be one of the most time-consuming and stressful tasks that comes with running a business. It’s a task that requires precision, accuracy and knowledge of local, state and federal tax laws -- a skill set that many business owners don’t possess. Payroll mistakes can end up costing a business, not just in terms of money but also in terms of morale, as disgruntled employees will not be very happy about being shortchanged when it comes to their wages.

That is why, if you are a small business owner, it’s wise to consider entrusting payroll processing to a professional. There are a number of advantages to this approach, including saving valuable time and money, as well as peace of mind knowing that your payroll is being handled by someone who has the experience required to do the job right.

Using a professional payroll service eliminates the need for the small business owner to manually calculate payroll taxes and deductions, which can be a daunting task. They can also create detailed pay stubs that make it easier for employees to understand the taxes and deductions that have been taken out of their paychecks, as well as set up direct deposit options to make payroll processing easier and more efficient.

A qualified payroll services company will also be familiar with all of the federal, state and local laws regarding payroll taxes and deductions, and can provide guidance and advice to ensure that your business remains compliant.

Walker Tax offers payroll processing services for all of our bookkeeping clients! We use Gusto, which also has other services such as pay-by-payroll worker's comp insurance, retirement plans, health and dental plans and a user-friendly dashboard and document management system for your employees.