Payroll accounting is a significant part of any business and can quickly become very complex. Outsourcing payroll accounting allows a company to focus on its core competencies while saving time and money.
The processing of salary and payroll is only one part of payroll accounting. Regular changes in legal regulations, differences in tax law between cantons or tax at source statements require time and know-how. Many companies face major challenges in dealing with these tasks internally, as it is a complex area. For the focus to be on day-to-day business, it is advisable especially for small but as well for medium-sized companies to outsource this area.
- Saving of resources: Internal staff and financial resources can be saved regarding payroll accounting and used specifically for the business. Expensive and complex software is no longer required for the company and salary processing in accordance with the uniform Swiss salary standard (ELM) is ensured.
- Know-how and experience: Thanks to the external expert knowledge you are up to date, you can take advantage of additional advice and thus reduce the risk of errors in payroll processing.
- Flexibility: The payroll service provider can adapt to changes in the size or requirements of the company. The needs of the company are always in the foreground.
- Discretion: Especially in smaller management teams, external service providers can ensure the confidential processing of management wages or bonus payments. In the event of discrepancies, external experts can provide neutral advice.
From a business perspective, additional factors must be taken into account. Weighing the costs incurred by the service provider against the financial expenses of internal payroll accounting is rather difficult. Even in the case of short-term additional costs, the advantages of outsourcing should be considered. For example, if there are difficulties in finding or training qualified specialists, a company can benefit from outsourcing in the short and long term.
The advisory role goes beyond bookkeeping, for example regarding taxes at source, expenses or the correct accounting of employee shares, which an external service provider can take on, has already been mentioned. When choosing a payroll accounting service provider, it is important to note that they work with certified software that enables an electronic payroll reporting process. Certification by Swissdec must be given, membership at Expert Suisse also represents a quality label. At Experfina we have in-depth knowledge and would be happy to advise you on this topic. We are Expert Suisse-certified, work with Swissdec approved software and can therefore offer an ELM-compliant solution.
