Learn about some common benefits of payroll outsourcing, areas of your business where a provider may be able to help, and how this approach could make sense for your business.

1. TOP REASONS
Simplify Payroll Processing
www.hivepayroll.co.in
Why You Should
Outsource
Payroll Software

2. 01
Potential time
saved
No matter how many employees a
business has, processing payroll
demands time and attention to detail.
By outsourcing payroll to a reputable
provider, owners have more time to
focus on what matters most to them.

3. 02
Calculating payroll
each time period
Whether it's calculating payroll amounts,
generating in-house reports, preparing
and remitting state and federal payroll
taxes and returns, or simply printing,
signing, and distributing paychecks, the
demands on your time can be costly.

4. 03
Printing, signing, and
distributing paychecks
or pay stubs
Once the pay amounts for each
employee are calculated, the physical
checks must be printed, signed and
distributed. In addition, these records
must be securely maintained for tax and
reporting purposes.

5. 04
Generating reports for
in-house and
accountant use
At the end of each payroll period, the
amount of pay earned by all employees,
any benefits or miscellaneous
deductions withheld, and all payroll tax
amounts must be carefully recorded for
future accounting purposes.

6. 05
Preparing and
remitting payroll taxes
Business owners or designated
administrators must carefully calculate
and complete a quarterly payroll tax form
to prove that the proper amount of
payroll tax has been withheld. This form
must then be submitted, along with the
proper amount of withheld taxes

7. 06
Mitigate payroll
mistakes
Payroll errors can be frustrating and
costly to both employers and employees.
For employees, a mistake in state tax
deductions can require an unexpectedly
sizable tax deduction from an employee's
final paycheck of the year, at a time that
coincides with the holidays.

8. 07
Enhanced security of
payroll data
Outsourcing payroll to a stable,
experienced provider can offer a "safe
haven" for your confidential payroll data.
In addition to redundant backup and
multiple server locations, a quality payroll
provider invests in state-of-the-art
systems for storing and protecting data.

9. 08
Compliance with
government
regulations
Businesses understand how critical
compliance is in their operations, and
52% of Paychex poll respondents*
agreed, noting that peace of mind with
regulations is very important.

10. 09
Payroll expertise
A professional payroll company employs
individuals who know payroll processing
inside and out. These individuals
specialize in the complexities of payroll
processing and taxes, as well as
compliance with government
regulations.

11. 10
Integrated payroll and
benefits data
Many companies offer benefits to their
employees, and employee contributions
must be deducted from payroll. If your
company offers multiple healthcare
plans, each with different contribution
amounts, managing these figures can
become quite complicated.

12. 11
Employee self-service
features
A 2019 Paychex Pulse of HR Survey found
that 84% of HR leaders identified that
providing self-service options to
employees is a key to their success.
Having an integrated payroll platform
with employee self-service options
saves time and money

13. Thank you
for reading!
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