The accounting industry is changing, there is a new normal emerging. The ever-growing plethora of online, accounting outsourcing firms, and DIY tax preparation software services are siphoning away individual and small business tax prep business.
Why in-house payroll:
- Customers are expecting more than just tax prep and planning. Add more value by bringing payroll, HCM, and compliance services to your clients.
- Payroll is a natural fit – As a trusted advisor, it makes sense to offer a well-rounded selection of financial services.
- Payroll / HCM provide year-around recurring revenues
- The cloud makes it easy – payroll is more automated than it used to be. With a cloud-based system with advanced mobile capabilities, tasks such as inputting employee hours and onboarding new employees in the post pandemic world are a lot more efficient, saving you valuable time and labor.
Leverage your accounting base by offering payroll/ HCM and time services versus outsourcing and referring payroll revenue to other companies. Own the full client relationship and provide more value which will create greater stickiness and year around revenues.
The payroll platform you select should:
- Have enhanced integration and automation with Xero software
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- Allows clients to easily map and upload journal records into the General Ledger
- Reduces GL errors by eliminating manual entry of data
- Gives the Payroll Service Bureau client more flexibility in allocating costs
- Allows clients to easily map and upload journal records into the General Ledger
- Not be in the payroll business selling direct and competing with you
- They should have the easiest to use products that your staff, clients, and their employees can access on the devices of their choice
- Rich payroll, compliance, and HCM functionality for the small to mid-size market that are designed for millennials and the post pandemic landscape – employee remote on-boarding, best in class mobile devices, time and attendance to remotely clock in
Nearly 50% of our service bureau base are accountants – we know accountants and are the resource to help you grow (not outsource) your business. Schedule a call to discuss your in house payroll options with Apex HCM.
About Xero
Xero is world-leading online accounting software built for small business.
- Get a real-time view of your cashflow. Log in anytime, anywhere on your Mac, PC, tablet of phone to get a real-time view of your cash flow. It’s small business accounting software that’s simple, smart and occasionally magical.
- Run your business on the go. Use our mobile app to reconcile, send invoices, or create expense claims - from anywhere.
- Get paid faster with online invoicing. Send online invoices to your customers - and get updated when they’re opened.
- Reconcile in seconds. Xero imports and categorises your latest bank transactions. Just click ok to reconcile.
Find out more or try Xero Accounting Software for free.
