Payroll services: What you need to know

A fully managed payroll service is just that: fully managed. This means it’s all taken care of by payroll experts and you can strike it off your mental To-Do list.

You’ll still have ultimate oversight on the payroll sign-off process, which means you have the chance to review how everything’s been calculated and (if needed) query anything that doesn’t look right.

If you’re a CPA or accounting firm relying on corporate payroll services to handle your clients’ payroll, you’ll also still be interfacing with your client. From your client’s perspective, their payroll is being run by you and your firm.

Corporate and global payroll services live and breathe payroll. They have the training, expertise, and technology to calculate accurate and fully compliant payroll, every time.

By relying on external expertise, you can ensure compliance with the latest tax laws and regulations. Automated tax filing and payment services are taken care of, minimizing the risk of penalties or reputational damage to your business.

And this is all achieved without putting pressure on your internal payroll team or specialist to keep up with every new and upcoming piece of payroll legislation.

When you outsource your payroll, you’re also sharing sensitive employee information with the payroll provider.

While there’s an inherent risk in sharing confidential data, the right payroll provider will go to every length to ensure your data is always safe and secure. For example, managed payroll solutions from IRIS use enhanced security measures, protecting data from cyber threats around the clock.

Beyond the security measures, a great payroll provider will also offer support – both with initial set-up and throughout your partnership. IRIS provides you with a dedicated, named payroll specialist who can offer ongoing support.

By partnering with a corporate payroll service, you’re potentially solving your payroll problem now and in the future.

Outsourced payroll providers are payroll experts, which means they can adjust their service and support level depending on your changing needs. Payroll services can help you if you decide to:

• Take on additional talent and increase the number of payslips that need processing
• Expand out of state (e.g. opening a new branch or office) and need to comply with new legislation
• Hire contractors, interns, or other temporary workers
• Hire international talent or remote workers
• Establish a base in another country and employ local workers.

Online payroll services typically offer a broad scope of payroll services, so you’re covered if you decide to go in a new direction.

Global payroll services can support you with employing workers based overseas – or if you’re looking to expand internationally in the near future.

Being able to hire talent overseas can be a game-changer for an ambitious, growing business, but there’s a lot to think about when it comes to payroll.

Global payroll services can support you with:

• Payroll onboarding and off-boarding to ensure complete compliance
• Processing complex in-country payroll (including salaries and local tax legislation)
• Managing international payments and paying people in local currency
• End-of-year statutory reporting for the specific country

Global payroll services like IRIS Global will also provide support from ‘in-country’ payroll experts, meaning your international payroll is handled by a regional ‘boots on the ground’ expert.