If you have a gardening business, chances are you have employees who help you run it effectively. You may have gardeners who help you mow your grass and tend your garden; you may have environmental scientists who help you grow your plants better; and you may also have HR staff who help you handle the administrative function of your business. But whether you have one employee or two, the question is, are your employees paid correctly and timely?
Payroll is considered one of the most important aspects of any business, whether it’s big or small. However, many businesses don’t bother to spend substantial amount of time to do it, which leads to mistakes. In fact, over 40 percent of small businesses get fined each year for doing their payroll incorrectly. Some of the common issues are missed and late payments, as well as incorrect tax and salary calculations.
As a business owner, you should be concerned about your payroll. There are two important groups that depend on you getting the payroll done correctly and on time: first, the government for your taxes; and second, your employees for their deserved payments. Failure to complying with tax regulations and not paying your employees on time will result to a disaster. Not only that you will face thousands of penalties, but you will also be at risk of losing your business entirely. So whether you’re new in the gardening business or have been in the industry for years already, it’s very crucial to think about your payroll.
There are a variety of ways to create and handle a payroll system. If you’re new in the business and have no idea how this works, it’s a good idea to familiarize yourself with different options available so you’ll know which one will work best for the type of business you have. There are three common ways to do this: do it yourself or in-house, outsource it, or use payroll software.
- Manage the payroll in-house. If you choose to do it in-house, you will need to decide who will handle it. Well, you can choose to do-it-yourself if you have the time and don’t mind handling a lot of paperwork, or you can also hire a staff to do the job. But keep in mind that whoever is running the payroll systems should have knowledge not only as to how the system works, but also as to how to comply with the changing rules and regulations of taxes.
- Use a payroll service. If you don’t have the time to handle your payroll on your own, you can choose to outsource your payroll. This is a very common option for small businesses. In here, you hire a service of an expert, such as an accountant or bookkeeper, or a payroll services Australia company to sort out all the necessary records for you and handle all the calculation and payments. But if you consider this option, make sure that you hire the service of a trusted and reputable payroll service company.
- Utilize payroll software. The third common option is to use a payroll software tool to handle your payroll. Most software programs that are offered in the market are already equipped with features that you need to manage your payroll correctly. All you need to do is to input the necessary data, then the software will do the rest of the work for you. But keep in mind that not all software programs out there are suitable for all types of business. If you have a gardening business, you should find a tool with features suitable for your gardening business. The good thing is that many companies produce software programs that have free trials so you can test them out and determine whether or not they are right for you.
With the right payroll system, you will not only make the government and your employees happy, but you will also put your business on the road to success.