T H E B E N E F I T S O F I N - H O U S E PAY R O L L P R O C E S S I N G 2
I
In-house processing ensures that when an organization makes errors, correcting
them is simply a matter of updating, making changes, and editing internally.
When in your control, there's no limit to the number of times important informa-
tion can be reviewed after being sent off – increasing accuracy and compliance.
When your outsourced provider makes a mistake, the issue is frustrating
to solve. It requires anything from contacting your provider and requesting
changes or adjustments, to waiting for the next pay period for a new employee
to be correctly compensated. Who has this kind of time to waste? You don't
need to sit on the phone waiting for an answer when you know how to solve
the problem.
Take Time Back
We all know payroll depends on timing. Maintaining your own payroll cycle
timing is just plain convenient and keeps your money in your company longer.
This flexibility simply isn't an option with outsourcing.
Instead of following a timeline that works best for your organization, outsourcing
makes you dependent on the timeline outlined by your provider. Everything
is done on the outsourced provider's watch. This lack of flexibility applies to
year-end processes and cash flow, restricting the amount of time a company
has each cycle to wrap up its payroll paperwork and finances and send them off.
OUTSOURCED EXTRA COSTS IN-HOUSE
1 HR 1 HR 1 HR 1 HR 1 HR 1 HR 1 HR 1 HR
Creating an Off-cycle Payroll Batch
Processing Off-Cycle Pay
Running Reports
Cancelling / Adjusting Payroll
Re-Running Payroll
Finalizing Payroll
Processing Employee Payments
Processing Remittance Payments
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$
$
$
$
$
$
$
$ $ $ $ $ $ $
$ $
$
$
Off-Cycle Payroll Process
Creating a Regular Payroll Batch
Processing Payroll
Running Reports
Cancelling / Adjusting Payroll
Re-Running Payroll
Finalizing Payroll
Processing Employee Payments
1 HR 1 HR 1 HR 1 HR 1 HR 1 HR 1 HR 1 HR
Processing Remittance Payments
OUTSOURCED IN-HOUSE
Regular Payroll Process
Most outsourced
payroll providers
require you to submit
your payroll 2-5 days
in advance of payday.
