The hospitality industry covers a wide range of companies and services that include hotels, lodging, catering, event planning, entertainment, tourism and more!
Companies within the hospitality industry have a unique set of needs when it comes to payroll management. They usually have a wide variety of employees that all have different wages, benefits and tax needs and employment contracts.
Due to these circumstances, it often becomes difficult for business owners to track all the payroll needs of their individual employees.
Thanks to online payroll services, like V-Tac Payroll, the burden no longer has to fall on the shoulders of the owner.
Benefits of Using Online Payroll Management
Simplify your life by using payroll management software and services! Focus on running your hospitality business instead of spending extra time trying to crunch the numbers. Here are a few benefits of using online payroll management:
Accurate Classification of Employees
In the hospitality industry, it is common for employment contracts to differ greatly from one person to the next.
Some employees may be long-term permanent workers, casual event staff, contractors or seasonal workers. Each of these positions likely has different payroll reporting needs that include wages, service charge distributions, bonuses, taxes and more.
Using online payroll management allows you to create employee classifications so that you can apply all the necessary reporting needs for each position. You can ensure that all of your staff is properly paid with no hassle!
Minimize Human Error & Manual Input
The biggest issue hospitality businesses owner face is human error. When dealing with any system that requires manual calculations and input, there is always a high risk of making a mistake.
Online payroll management systems take care of all the calculations for you, complicated or not. You’ll be able to easily track all schedules and ensure that you don’t have to double back and fix an error in your employees’ pay, saving you time and leaving your employees happy!
Accurate Taxes & Reporting for the Hospitality Industry
Tax season can be incredibly stressful and even more so when you are trying to balance this with continuing to run your business.
Having a payroll management system that provides you with accurate and detailed reporting, will make your tax season so much easier!
When choosing a payroll service to work with, pay attention to how they offer help with taxes and their level of compliance so that you know you won’t have to worry about fines or penalties.
V-Tac Payroll – A Good Fit For Your Hospitality Business
At V-Tac Payroll, we offer our payroll management services with the goal of helping the hospitality industry efficiently plan labour, stay up-to-date with legislation and maintain industry standards in Canada.
Running a business in the hospitality industry comes with many day-to-day tasks and adding extra stress by manually managing your payroll is avoidable! With online payroll services, like V-Tac Payroll, we offer you assistance with payroll, taxes, calculating and distributing benefits, performance management and so much more.
No matter the size of your hospitality business, our team is here to help you create a payroll management system that is the perfect fit for your company.
Contact our team of specialists today to get started with our hospitality payroll services!