Time and Payroll
Time and Payroll
Time is relative, as explained by Albert Einstein. This holds true in both a scientific and metaphoric way of thinking. An entire day of fun can feel like it passes in just a few hours, whereas a few minutes in an English lecture can seem like hours, maybe even days if it is boring enough. We have all experienced some form of this, every time we say “I can’t believe its only 6 o’clock. It feels like it’s at least 9”. The best example of this happens when doing payroll. When in Daytona Beach payroll services is especially tough, because those two hours between now and leaving work for the beach can seem almost insurmountable. The work has to get done before payday though. If you run a company and do your own payroll, dealing with a new payday deadline every week, time becomes a relatively chaotic affair.
In a small company, it may be a bit less stressful, granted you don’t have a long list of employees to put on payroll. For someone running a larger company with more employees, that is when things get interesting. Not only do you have to keep it all on track, you also have to maintain and adjust it in case of mistakes. Employees may forget to clock in or out, and it’s up to you to catch them in time, or else their paycheck may come out drastically off. Then there is also the issue of keeping organized records for each pay period. When tax season comes around, the pressure can really start to grow.
When it is time for tax season, you have to keep up your payroll duties, while also preparing the proper tax documents. W-2s for the basic employees, 1099 forms for various other situations, such as subcontracted work, and getting it all distributed to the employees. There are federal deadlines to meet, which could incur consequences worse than dealing with an angry employee. Aside from the backlash of disgruntled employees, the company could face a fine of $250.00 for each W-2 not sent out by January 31st. There is no ceiling or limit to this consequence either; rather it will only end when each late W-2 has been fined. You can imagine how much of a toll this can take on your company’s finances.
Aside from all these consequences of fines and employees on the warpath, there is also the stress that accompanies the deadlines. Regardless of who an upset employee goes to, eventually it comes back to you. They may take their complaint straight to you, or to a manager who will carry the message to you. Either way, you don’t get to escape the sound of complaining. Be brave though, there may be a solution that will not only eliminate the stress of payroll deadlines, but also the payroll deadlines all together.
A growing trend in the modern business world is known as outsourcing. While the concept of outsourcing has been around for quite some time, recently it has begun to grow more and more popular. This means sending your payroll duties to another company, whose main priority is getting your payroll done on time. The best part that goes with this idea? Outsource companies such as Vision H.R., which helps supply places like Daytona Beach and Palm Coast with their payroll services, offers a free quote. You can get all the information you need to make the right decision for your company.
Save time, reduce stress, and take a few extra minutes out of your work schedule to sit back, and take in a deep breathe. Make that extra time seem all the more welcoming.
