4 Models To Position Payroll As A Profit Center

Payroll is an important part of any business, and most payroll solutions currently available are capable of providing support for all business types and sizes. Although technology and automation have made compliance much easier, payroll continues to grow in complexity. As with most tax compliance rules and regulations, the reporting and tax compliance issues for payroll are constantly changing. Keeping up with these changes is difficult for any accounting professional, much less the average small business owner. Add to this the increasing demand for human resource (HR) management functions and the situation gets even more complicated.

Due to the changing nature of payroll, accounting professionals are constantly sought after for guidance with payroll-related issues. While most accounting professionals have a knowledgebase capable of handling all aspects of payroll, many may not have the requisite time or dedicated staff resources to perform the work. In addition to time and staffing issues, accounting professionals also have different views on the proper model to use for processing payroll. Some prefer to perform all or most of the payroll functions themselv