What Should You Choose From - Pay As You Go, Monthly Fixed Hours, Fully Managed?

Doshi Outsourcing Accounting Solutions

September 23, 2020

It is commonly observed in any business that there are many functions which are costly and resource-draining for a business and thus there is an urgent need to outsource accounting services. We are a provider of outsourced accounting service that gives you complete peace of mind; a pay-as-you-go solution. Pay as you go model is very convenient in that matter.

Accounts production is not just a legal obligation. It is much more than that. It helps a business to ensure shareholders regarding the dependability of the financial statements. We assist our clients to manage their accounting functions and can tailor our approach to meet any additional requirements, ensuring open communication and effective solutions throughout the process. We can offer accounts preparation services for entrepreneurs and small businesses. In addition to traditional accounting outsourcing packages, we are increasingly assisting our clients with a range of cloud (online) based solutions as well.   

We are aware that, as a busy business owner, you expect an experienced and competent team of accountants who can help you to efficiently manage your company payroll and let you focus on the core business activities. It’s about more than ‘handling your payroll’. We become your payroll department; getting under the skin of your business to understand who you are, what you do and what you require. That’s how we create the best payroll service that delivers exactly what your business needs now – and keeps delivering in the future.

Time-saving & Cost-effective:          

When you are running a business, time is money or we can say even more than that. Processing payroll in-house is very time-consuming and requires lots of attention to all minute details. Time spent on payroll, managing considerable amounts of data and ensuring no error is made, is the time taken away from the core tasks of your business. By outsourcing payroll processing you can be tension free and rest assured that all your PAYE taxes and statutory filings will be managed efficiently.

Saves from penalties and mistakes:

It is observed that all size of organizations that choose to outsource payroll to get advantage from the expertise offered by experienced, fully managed payroll teams. They are also tension free regarding employment regulations, data and compliance, and tax legislation which are complex, prone to change. The professionals managing a company’s payroll outsourcing are required to keep up-to-date on changing regulations and will maintain the correct records and prepare payroll data and statutory filings accurately and on time.

For any business, leaving payroll to the experts reduces the chances of mistakes which could result in huge penalties and fines. It also means spending less time in-house on complex payroll, tax issues, and more time on building sales and marketing strategies for your business growth and improving workflow efficiencies.

Outsourcing payroll is always a smart choice. A good payroll provider offers you capabilities that go beyond what your organization can do on its own. An outsourced solution will not only deliver you peace of mind but also free up your time in your company leading to save you money and also reduce your compliance risk—and will also help you deliver the seamless payroll experience your employees always deserve.

Improvised data security:

In-house payroll comes with a lot of risks, including identity theft and fraud. Even if you are confident enough about the security with the payroll software, the safety of the server or network is much greater than that of payroll software. The Outsourced payroll providers who believe in quality will protect and store your data on highly secure cloud-based servers and they will also be using cutting-edge encryption technology to ensure your critical information is safe. We also use electronic payment methods so that if an error occurs, it can be easily traced, helping to protect you against potential losses. This is all included in the outsourced service we provide while attempting to do the same in-house would be very expensive.

So we can see how payroll outsourcing benefits. When you hand over this important task of your business to an external partner it can save you time, money, and compliance headaches. And it’s always a wise move for the companies of all sizes. That is the reason why an increasing number of enterprises and small business owners are giving their payroll function to professional service providers who offer specialized and fully managed payroll services.