Nonprofit payroll administration is a complex duty. The stakes are high and your employees expect to get paid in full and on time. It’s not simply a matter of cutting checks anymore: there are benefits withholdings, tax withholdings and filings, and sensitive employee information that must be stored.
Nonprofit payroll administration is both time consuming and critical. So why not call in an expert and know that moving forward the process is accurate, efficient, and secure? Better yet, your time will be freed up from payroll administration and directed towards the more strategic goals of your nonprofit organization.
Here are the three most common reasons organizations have entrusted the nonprofit payroll to Qbix and the benefits they have gained from outsourcing.
Nonprofit Payroll – 3 Reasons to Outsource with Qbix
Secure information
The employee information required for nonprofit payroll means that you have responsibility for protecting the most sensitive employee information – information that, were it to fall into the wrong hands, say an identity thief, would be disastrous for your employees.
True story: a company I worked for years ago was broken into. A window was smashed and the server that stored all payroll information was among the items stolen. Receiving word that all your contact information as well as your social security number is in the hands of thieves is a horrible situation. Securing information needs to be more sophisticated than a locked door.
When you outsource with Qbix, we bring in industry leader ADP for your nonprofit payroll. Through economies of scale, you are protected by security measures that you would not be able to implement on your own. ADP has developed its security program by incorporating industry leading practices and recognized standards such as the International Standards Organization (ISO) 27001/27002 series. ADP continually reassesses its information security program to stay current with the ever-evolving threat landscape.
ADP partners with law enforcement, government agencies, security organizations and associations to keep at the forefront of security and privacy developments.
You can be confident working with Qbix and ADP that your nonprofit payroll data is secure. That’s one less thing to worry about as you get on with the work of your mission in serving individuals and the community.
Tax calculation, withholding, payment
Staying on top of payroll tax regulations and changes can be a full-time job. Is that the best way for you to spend your time? Probably not. Outsource your nonprofit payroll and all of the calculations, filings, and payroll tax payments are taken care of – in compliance with federal, state, and local regulations.
Managing your nonprofit’s payroll taxes in a timely, accurate way is the best preventative measure to avoid IRS audits and expensive tax penalties.
Financial reporting
Too often we come across organizations that aren’t equipped with the proper payroll and accounting systems and procedures. Each pay period involves a scrambling to review bank statements to ensure that payroll can be covered.
By bringing a better system and process for nonprofit payroll administration, chaos can be replaced with order. Regular financial reporting to predict cash flow allows you to make accurate decisions and better manage to your budgets.
Outsourcing has become a best practice for nonprofit organizations of all sizes and types of missions. It’s both affordable and brings a level of expertise and access to technology that organizations didn’t enjoy previously. It’s why the most common feedback we receive is “I wish I had done this sooner.” The relief is tremendous. The confidence and control that comes from timely and accurate execution of accounting and payroll duties is a welcome change – a positive change that reverberates beyond the administration department into the board meeting and, most importantly, to the fulfillment of the mission.
If you have concerns about the timing of outsourcing your payroll (e.g. whether to move at quarter end or wait until year end), please contact us and we will do a consultation for you, free of charge.
CL Davidson Macon, GA
