A guide to why having the right payroll process in place in Mississauga is important
We’re glad that you know the value and understand how important it is to have an accurate, timely payroll process in place. And we feel fortunate that you are considering Miranda Professional Corporation (MPC) in Mississauga to handle this often time-consuming yet vital function.
Why should I outsource payroll?
You may already outsource everything from office cleaning to tech support to an external firm. So, you may already know the many advantages of outsourcing functions that are important. But these functions are also notoriously tedious and time-consuming. Like other outsourced providers, we free up time for you and your team to focus on high-growth tasks, such as business development. Additionally, outsourcing provides cost-effective access to considerable, specialized knowledge and resources. You don’t have to pay for another employee to manage payroll.
What types of payroll services are available?
As Chartered Professional Accountants, MPC offers both After-the-Fact (ATF) and live payroll services. “Live” payroll is as it sounds; we keep on top of year-to-date payroll, income tax withholding, and other data on an ongoing basis. ATF calculates payroll and tax data after paychecks have been issued. Reports may be rendered each month, quarter, or year.
What are some advantages of choosing MPC for payroll?
Some payroll services providers may offer off-the-shelf, barebones services. These firms may not be based in Canada, let alone Ontario. By turning to a locally-based, experienced accounting firm, you can trust your confidential data to professionals who are familiar with provincial and federal laws. As financial and tax specialists, we have the knowledge and resources to ensure your information and reports are secure, accurate, complete, and timely.
All of these factors add up to save you money, time, and stress. We help you avoid costly tax penalties and contain overhead (you don’t need to hire a payroll specialist). Additionally, we look at payroll as one part of your overall operations. We understand how this function is connected to other functions to help identify efficiencies in other areas that can save and trim the waste.
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