Payroll Services for Charities
Every business regardless of its size must process a payroll and without properly managing the payroll companies are at risk. The same rule applies for charities and not for profit organisations. While many organisations have their own payroll department, most charities choose to outsource their payroll to specialist firms. Nevertheless, payroll services for charities are slightly different than those for profit businesses so it is important to choose a payroll specialist firm that fully understand their needs and requirements.
Why are the payroll services for charities different?
Conventional businesses employ a stable number of staff while charities might have a large number of staff to call on for shorter infrequent periods. Therefore, managing the payroll for these two situations can be quite different.
Moreover, some charities might also have volunteers who are not paid but may receive expenses payments. Other staff may only be paid based on commission with no wage basis. There are many cases where staff is also paid on project basis and their wages and expenses have to be closely tracked.
The benefits of outsourced payroll services for charities
Many charity organisations find it very difficult and time-consuming to manage the payroll functions in-house. Therefore, the choice of outsourcing the payroll processes to experts brings numerous benefits.
- Specialist firms have the latest technology in place which can cope with the complexities of the payroll. Moreover, the software used by specialist firms secures sensitive data and allows close monitoring of accounts.
- Error-free. Outsourcing the payroll can eliminate errors, avoid late payments or non-compliance.
- Reduced costs. Managing the payroll in-house brings extra costs as charities have to hire extra staff for this. Costs are even greater especially if various problems arise such as errors, outdated software or failure to keep up with the ever-changing industry. Therefore, outsourcing the payroll can greatly reduce the costs associated with this process and help charities save funds.
- Time-consuming. Processing payroll functions can be very time-consuming. Organisations that choose to outsource their payroll can allocate more time resources to other activities.
Ormsby and Rhodes provide expert payroll services for charities and not for profit organisations. Get in touch with us today if you need more information or request a free consultation now!