End of the pay-cycle is a tough time for small business owners. They have to run their payroll. And even experienced owners worry about doing it accurately, especially if, they are doing it on their own. They averagely spend as many as 2.5 hours to process the payroll carefully. Still, many of them end up with payroll mistakes. It is the reason why many of them choose one of the best payroll services in Singapore.

What Do Singapore Payroll Services Offers

The providers of payroll services enable you to automate parts of the process. It means saving of resources and precious time which you can devote to achieving your business goals. Outsourcing your payroll to experts means you are no more worried about making mistakes in the following tasks:

  • Calculating salaries and preparing checks for employees
  • Employee attendance
  • Taking care of payments of employee insurance
  • Calculating employee benefits, incentives, bonus, etc
  • Offer year-end tax support, including IR8A/S
  • Complying with regulations in Singapore Employment Act
  • Preparation of salary report
  • HR administration
  • Preparing employment paperwork compliant with Singaporean law

Payroll Cost

An experienced provider of payroll services in Singapore can reduce the workload off your shoulder. The real question is, "How much does it cost?"

When you outsource to a payroll service, you are cutting your costs down by almost half of what it would be, if you were to do the payroll yourself: hiring and training payroll executive costs. When you do it yourself, you waste time which you could spend on getting more business.

Payroll outsourcing is cost-effective. You need to map your payroll needs with what the provider is offering. If you have special needs, you should discuss these with them. You also must find out if there are any hidden costs.

Error-Free & Compliant Payroll Processing

The experts working in payroll services in Singapore remain on top of all the latest changes in the rules affecting their work. It is what makes their work error-free and gives them a competitive edge. You end up with accurately processed and compliant payroll.

What is the Most Important Benefit of Outsourcing Payroll?

Outsourcing to a reliable provider of payroll services in Singapore gives you peace of mind. You no more need to be up at night and sit in front of your workstation to do it, or call your accountant for this and that detail, or worry about if you have done it right or will the officials from the agency will accept it. Choosing the right payroll services provider makes your worry-free.

Switching Payroll Services Providers

Payroll processing is an ongoing process. And you cannot predict when you will need an expert's help. The question is, "Do your payroll services provider comes to your aid at such time?" 

Are they reachable via phone, email, or chat at such time? It is a crucial point in deciding whether to continue with them or not. You should switch to a more professional provider if you are not happy with the present one. 

If you have decided to hire a new payroll provider, you need to ensure that it is a smooth process. You need to know, "Who is going to input employee information?" You? Is your new provider going to lend you a helping hand? How much support are they offering you to migrate to their service? You need to know in advance and detail.

Selecting a Provider of Payroll Services in Singapore

You could go on the internet and visit websites of payroll providers and try to get a bearing on their personalities. Surely some of them will be better for your purpose than others.

Read online reviews and see what their clients have said about their experiences with a particular payroll provider. Focus on the information related to the payroll features you are most interested in. Go through their social media and see how they respond to customer issues.

Author's Bio: 

SBS Consulting is one of the leading corporate services providers in Singapore. It specializes in Company Incorporation, Accounting, Preparation of director's report, Taxation, GST, Payroll, XBRL, IT software development and maintenance and other value added business services for residents and non-residents of Singapore.