Do you have a company in Hong Kong or neighbouring jurisdictions and have been wondering how to handle the payroll? Processing payroll can be pretty complex, consume a lot of time, and put the staff data at risk if you are using outdated software. Remember that your company risks getting slapped with fines for failing to process payroll accurately and on time. The best way to ensure you get every step of payroll management right is by working with a Hong Kong payroll service.
The expert agencies are well versed in the process of payroll management, but you need to ensure that only the best is selected. This is also never easy because of the growing list of agencies on the market. To help you out, this post digs deeper into payroll management to pinpoint the most important attributes that you should check when outsourcing an agency.
What is a Payroll Service?
Before looking at the features that should guide you to the best payroll service, it is important to go back to the beginning and establish what it is. This is the processing of payroll calculations, mandatory deductions, payroll tax statement generation, and year-end taxes, among others. If you go for a full payroll service, other activities that will be included in the package include handling deposits, pay garnishments, withdrawals for employees, and new hire reporting.
As you can see, the list of activities involved in payroll management can be pretty long and complex for non-professionals. This is why you should only work with an agency of experts.
How to Identify the Best Hong Kong Payroll Service
We must indicate that not all Hong Kong payroll providers offer the same level of services. To narrow down to the best firm, here are some of the specific attributes to check:
- The Firm Should Offer Multiple Services to Clients
Apart from payroll processing, the agency you select should be able to offer a lot more to deliver high value for money to clients. For example, you should look for an agency that is able to help with tax matters, offers multiple payment options, PTO management, multiple wage rates, and garnishment payments.
- Reputation of the Firm
One way of identifying an excellent Hong Kong payroll service is checking the rating of previous clients. After working with the service provider, what do the previous customers have to say? If they give positive feedback, you can also expect to get high-quality services. However, you should carry out additional due diligence to determine how suitable the agency is for handling your payroll too.
- Look for Payroll Service that Uses the Latest Software
To process payments for staff, payroll service providers use special software for enhanced accuracy and security. Therefore, you should check and pick the firm that has the best programs. Particularly you should confirm that the app:
- Has automated regular backups.
- Is using the latest updates.
- Integrates well with other programs in your company.
- Outstanding Support from the Service
When looking for a Hong Kong payroll service provider, make sure to only pick the one with top-notch customer support. This means that you will be able to get any issue that might arise there-in fast and professionally. Again, you will be able to get prompt correspondences, especially in areas that require immediate remedies for service improvement or compliance.
One of the Hong Kong payroll service providers that tick right in all the attributes we have highlighted above is Primasia. The agency is made of experts in matters of accounting and payroll management, and you can count on them to get everything right. The firm can also assist you with tax matters, company registration in Hong Kong, and carrying out due diligence.