Making sure your employees get paid cannot be something that you take for granted. However, it is never as simple as writing a check and handing it to your employee. Most small businesses will have a range of differently classified employees, from freelancers to full-time staff, and there are a number of intricacies based on taxes and status that you may not take into consideration.
Keep in mind, if you have a number of independent contractors and freelancers that they are responsible for handling their taxes on their own. While this may make it seem like you don't have to do much to make sure they are getting paid, if you do not properly manage their payroll activities or misclassify them, then they will have a much harder time handling their own finances and may not want to continue to contract with you.
Timeliness is also essential to your employees when it comes to payroll. If there is not a set payment schedule for when they can expect to receive their funds, it is likely that they will become frustrated with your methods. Furthermore, if you are writing payroll checks and don't have clear and accurate finances, you may find your checks bouncing, which employees definitely will not appreciate.
If you are not an expert in which taxes you are responsible for paying your employees, you will quickly find yourself in trouble with your employees and with the local taxation agencies. There are certain taxes that you as an employer are responsible for paying on behalf of your employee, and accurate tax preparation of the employee's yearly earnings will mean that they cannot properly compute their income.
There are a number of companies available that exclusively handle payroll services for businesses, but many smaller operations may not need quite as much support. In this case, outsourcing your bookkeeping needs can make sure that your payroll and applicable taxes are factored in to your monthly statements, making sure you can always pay your employees in a timely fashion.
Of course, the benefits of outsourcing small business bookkeeping are that you'll always have an accurate picture of your company's financials. You'll know if your payroll is too excessive for your budget, and you'll also know when you have an opportunity to make more hiring decisions when growing your business. There will be no surprises for you or your employees come payroll and tax time, which means you'll be able to retain a happier staff for the future.