More and more accountants today are seeking payroll outsourcing options for their clients, relieving the burden of complex payroll tasks and saving time and money in the process.I talk to accountants on a regular basis and one of the primary reasons they are recommending an outsourced provider to clients is to ensure payroll tax compliance. In 2011, there were over 4,000 regulation changes nationwide affecting federal, state and local payroll taxes. This astronomical number is simply too much for the average small business owner to keep up with. Quite frankly, most accountants I know don’t want to keep up with the compliance required for all these changes either.
Lisa McMahon, member, Warren, Averett, Kimbrough and Marino, a Birmingham, Alabama, accounting firm, has referred the firm’s clients to CompuPay for the past eight years. “The main reason we encourage our clients to outsource their payroll is that it saves them time and money,” McMahon told me. “Keeping up and complying with all the federal, state and local rules and regulations require a lot of time and effort. Many clients have limited resources to use for processing their payroll and filing all the necessary returns timely. By outsourcing their payroll, our clients can get out of the payroll business and have more time to spend on revenue generating activities for their business.”
Partnering with the right payroll company is all about service
To make it work for both the firm and the client, finding the right payroll company to partner with is essential. For firms looking for an outsourced payroll provider, McMahon offers this advice: “It is really not so much about the payroll products offered, it is really all about the service. There are many products available on the market to meet our clients’ needs; the real differentiator is the quality and level of service provided.”
According to McMahon, some of the fundamental factors in a successful partnership between an accounting firm and an outsourced payroll company are communication, responsiveness and accuracy, “however, the key to the relationship is how well the payroll provider helps us serve our clients!”
About the author: Kathey Palmer joined CompuPay in 2005. In her current position as senior vice president, business development, Ms. Palmer oversees marketing, communications, public relations, channel partner relationships and sales support and is the senior manager responsible for mid market and national accounts sales. She holds master’s degree in public administration from the University of Alabama and a bachelor’s degree in political science and economics from Mississippi University for Women.
The material contained in this document is for informational purposes only and is current as of the date of publication. CompuPay is not a tax, legal or financial advisor and makes no claims as such. For tax, financial or legal advice, please consult a professional.