Many companies, especially small businesses, reject the idea of working with a qualified payroll accountant not because they are not aware of the importance of having a professional handle their payroll, but for fear that outsourcing the payroll process might involve costs that would stretch the company’s budget. While payroll accountants do work for a fee, the services of a qualified payroll specialist will actually help you save money, probably sums beyond the amounts charged by your accountant, so here are some tips for you to find a great, knowledgeable and experienced payroll accountant in Highlands Ranch.
Understand What the Work of a Payroll Accountant Involves
Knowing what payroll accountants do is essential for being able to assess the knowledge of the specialists around you. Payroll accountancy involves the recording of payroll transactions, such as salaries, wages, commissions and bonuses paid to your employees and collaborators. They also do the calculations regarding the payroll taxes withheld from the employees’ salaries and wages, such as social security taxes. Payroll accountants are also responsible for preparing and filing any documents to the authorities.
Decide about the Form of Collaboration
You can either hire a payroll accountant to be your employee or you can look for an independent accountant or accountancy firm that provides payroll service. If you choose the first solution, you will have an in-house person working with your payroll from 9 to 5, but you will have one more employee on that payroll, which, as you probably know, is the costliest way to have access to knowledge and services. Accountancy firms, on the other hand, work from their own offices, so with the second option, you will not have someone working in an office of yours, crunching the numbers that make up your payroll during your office hours. Accountancy firms usually work with the documents and the data provided by their clients, from their own offices and the fees they charge for their services make a deductible expense, which means that outsourcing the payroll process is often cheaper than handling the related tasks through your own staff.
Tips for Identifying Available Specialists
After you make up your mind about the form of collaboration that would work best for you, it is time to move on with your search. Word-of-mouth is always a good starting point for any search to find professionals, so you should start looking for your payroll accountant Highlands Ranch specialist by asking the people you know to provide you recommendations and referrals. When you have the name of at least four people that you could collaborate with, schedule meetings with each of them to talk about the services they offer, their qualifications and your requirements. Prepare thoroughly for the meeting, gathering all the questions you need answers for in terms of the accountant’s education, qualifications and experience as well as about how the specialist will handle your payroll and how much the services will cost you.
After you have interviewed the specialists on your list, take the time to process the information that you have obtained and choose the specialist that offers the highest level of expertise and that you feel you can collaborate with successfully.