is the payroll function best performed within a company or is outsourcing a better approach to payroll process?
processing3 years ago - 1 answers
Well, payroll accounting IS a bit complicated. Tax laws change every year. I work for small businesses as a bookkeeper, and I frankly and openly admit to my clients that I'm not qualified or up-to-date on payroll taxes and laws. That's not a big deal - I can handle everything else. So the clients I have do in fact outsource their payroll.
Now, for larger companies, they can actually afford to 'employ' a CPA to take care of payroll. Such a person CAN do payroll correctly and DOES know the ever-changing tax laws.