All businesses--regardless of purpose, structure, or size--share the important need to pay their employees. While essential, payroll and tax responsibilities can be complicated and time-consuming work. Not to mention, if done wrong, they can be costly and potentially lead to audits. The Internal Revenue Service (IRS) department reports that the average penalty amount paid due to incorrect or delayed filings is $845. Investing in an outsourced payroll service in Honolulu, HI can mitigate and even eliminate this problem altogether.

How Much Do Outsourced Payroll Services in Honolulu Cost?

Costs for outsourced payroll services will vary based on your chosen fee structure. The three most common are:

1. Per employee per month
2. Per pay frequency
3. Fixed pricing

Companies chose their payment option depending on their standard pay procedure and number of employees. It's important to keep these in mind when deciding on what works for your business.

While the cost of outsourced payroll services varies according to the above factors, you can generally expect to pay between $200 to $250 per employe per year. It's a small price to pay when you consider the advantages.

Why Choose Outsourced Payroll in Honolulu?

Businesses that outsource their payroll see many benefits in addition to saving time and money in the long run. These are just a few of the best selling points.

Uses the Latest Technology

Among the many reasons to make the switch to an outsourced payroll service in Honolulu, HI instead of managing payroll internally is removing the hassle of constantly upgrading payroll software. With each payroll technology advancement, new features become available, old systems become outdated, and extensive training is required. Outsourced payroll services prioritize using the latest technology and their expertise means they get the most out of the freshest version.

Handled by experienced payroll specialists

Relying on an outsourced payroll service delegates the responsibility to a team of professional payroll providers. These payroll specialists stay current with often changing rules, regulations, and tax rates. Keeping up with the latest updates can be a demanding job in and of itself. An outsourced payroll service in Honolulu, HI frees business owners from working on non-core functions so they can focus on more productive and strategic tasks.

Ensures confidentiality

Choosing an outsourced payroll service in Honolulu heightens security and ensures confidentiality. Payrolls contain sensitive information including bank accounts and personal details. Despite employees being trustworthy, using a company's own server or network to manage payroll runs the risk of embezzlement of funds, identity theft, and tampering with company files. An outsourced payroll service in Honolulu, HI carries out frequent data backups and is equipped with multiple servers to guarantee safety.

Ready to enhance your business by investing in an outsourced payroll service in Honolulu? Contact us today to get started!