This is why switching to Lohnworx makes sense
Our main tasks as your payroll professional
Complex tasks
Payroll accounting in large companies with many employees is complex and extensive. Working with a tax advisor allows these tasks to be outsourced to experienced professionals, which reduces the internal workload.
Resources
Payrolling requires time and resources. Working with a tax advisor allows these resources to be deployed elsewhere in the business and to increase overall efficiency.
Expertise
A tax consultant brings with him extensive knowledge of payroll tax and social security law. This ensures that payroll statements and relevant reporting are done correctly and in accordance with the legal requirements.
Compliance
Payroll accounting is subject to numerous legal provisions and regulations. An experienced tax advisor will ensure that these regulations are complied with, protecting the company from legal problems and penalties.
Cost savings
Switching to working with a tax advisor can result in cost savings. The example of the text explained how a company can achieve annual cost savings by outsourcing payroll.
Focus
Outsourcing payroll allows the company to focus more on its actual core competencies and business development, rather than tying up valuable resources for administrative tasks.
0
Satisfied companies
0
Payroll professionals in use
0
Years of experience
0
Countries connected worldwide for you
When does switching to a payroll professional/tax advisor for businesses make sense?
For large and medium-sized companies with 100 or more employees, payroll accounting is a complex and ever-evolving activity. In-house payroll often consists of a team of two to three payroll accountants who prepare the corresponding payroll statements on a monthly basis, make social security returns and provide the necessary data to the tax administration, as well as certifying and communicating with institutions. Experience has shown that, at a certain point in time, the assistance of an experienced tax consultancy firm, i.e. a payroll professional, is necessary in order to be able to assess matters correctly from the point of view of payroll tax and social security law. Specialities require experienced professionals who handle the different cases in order to best support and advise you as a company in billing-related matters.
In principle, cooperation is possible at any time. Often it makes sense to start the cooperation at the beginning of a new calendar year, but we are at your disposal even under the year. Our payroll team is made up of over 20 colleagues, of different ages, who are happy to contribute your expertise and experience to be a permanent and qualified contact for your company’s payroll process. Regular exchanges as well as open communication are the key to success for us.
Why is internal payroll accounting no longer enough and a switch to payroll professional is imminent?
Payroll accounting in large companies is associated with numerous challenges. As the number of employees continues to grow, so does the administrative workload in the HR department. The payroll accounting process is becoming more and more extensive, as different employment contracts have to be drawn up, salary structures and additional benefits recorded and various notifications and applications submitted. In addition, there are various changes to the law that need to be taken into account and require precise knowledge in order to be able to prepare payroll without errors. If we now consider the fact that employees are absent due to illness or holidays, the process comes to a standstill and payroll-related matters may be forgotten, which subsequently leads to considerable additional work.
To illustrate the benefits of working with a tax consultant, let’s consider a hypothetical company of 150 employees that has previously operated its own payroll accounting. Suppose the average cost of payroll accounting is 50,000 euros per year, including personnel costs and software licenses. Now the company uses the services of a tax consultant who charges an annual amount of 40,000 euros for payroll accounting. The company thus achieves an annual cost saving of 10,000 euros.
In addition to cost savings, the company also benefits from the expertise of the tax advisory firm, which ensures that all tax aspects of payroll accounting are handled correctly and efficiently. In addition, as a tax advisory firm, we offer to take over the certification system for you, to keep an eye on all data transmission deadlines and to communicate with institutions and authorities. Other services, such as advice on employee retention and satisfaction benefits, complete our offer.
For large companies with 100 or more employees, switching from in-house payroll accounting to working with a tax consultant can offer considerable advantages. The complexity of payroll accounting, compliance with legal regulations and resource optimisation are key reasons for taking this step. Working with an experienced tax consultant can save time and effort and improve compliance and payroll accuracy. Organisational development is the keyword that comes to the fore here.
Together with you, we will assess your individual company situation and offer you sound advice and a subsequent solution to ensure your company’s long-term success and steady growth.
Arrange a non-binding consultation appointment now.