Whether running a small or large business, business owners realize the vast amount of time required to do their own payroll and billing. Whether your business is thriving, or if you are seeking growth, why waste precious time dealing with these tasks? Focus on your business by delegating them to a payroll expert.
The question now becomes, who do you hire when seeking an expert in payroll? Business owners might consider a bookkeeper, accountant or CPA. Sometimes, there is an integration between two or all three of these experts.
Many businesses employ the services of a bookkeeper to keep track of daily transactions – money that comes in and out of the business, often utilizing various accounting software and/or cloud-based technology. Responsibilities are numerous and may include paying bills, doing payroll, reconciling financial statements and producing monthly financial reports. An incredible, valuable tool to assist bookkeepers is a timekeeping system. Accurate information is right at their fingertips, saving time and money.
Information prepared by a bookkeeper is often reviewed and used by an accountant to help prepare financial documents – such as a tax return, as well as in the development of business plans. As an advisor, the accountant provides vital business recommendations.
Some businesses turn to a Certified Public Accountant – one who has completed and passed various accounting-related college and graduate courses (auditing, taxes and advanced accounting), and follows strict requirements in the state he/she will be practicing. In addition, continuing education is required yearly to stay up-to-date. CPAs are able to help businesses in need of a financial statement audit, tax planning and provide litigation services.
To help grow your business with a payroll expert, consider the following:
What services are needed? Will the employee prepare payroll, assist with business plans, audits, etc. This helps to determine if you need a bookkeeper, accountant or CPA – each of which comes with recommended wages/salaries. In general, bookkeepers are more affordable, and a CPA is on the higher end of the spectrum.
Does location matter? If you want face-to-face time with your employee, hire an employee nearby. If not, you can hire someone to work remotely.
Is experience important? Some business owners prefer payroll experience within their business niche, while others prefer to hire and train.
As a business owner, if your focus is on future growth, now is the time to learn about HQ Platform. Our powerful, customizable HQ Platform can help you save valuable time and money, as you streamline management and grow your company.
Contact us today! Fill out the form below and one of our HQ Experts will get back to you right away.