At the heart of any business is the payroll processing department. There would be no business, sooner than later, if you weren’t paying your employees. But without the right payroll software provider, paying your employees accurately and in a timely manner can become anything but a sure thing. Let’s find out how to choose the best payroll software providers for your needs.
Payroll Is a Challenge
The bigger a company gets, the tougher it is to handle payroll accurately and in an expedited manner. As a company grows, so do the following:
- Unwanted and unneeded stress
- Harder handling of compliance and taxes
Is it an option however, for your business to outsource your payroll? This is actually a good idea. It’s time to rearrange your thinking if, in regard to outsourcing payroll, you believe the following:
- You will lose control of payroll functions
- You can’t afford it
- Your business is too small
That kind of thinking couldn’t be further from the truth. In fact, a payroll provider, when chosen correctly, provides several things:
- A simple way of paying taxes
- A simpler way of paying your employees
- An inexpensive way of doing both
How to Find A Good Payroll Provider
Once you make the decision that a payroll provider is the way to go, it’s time to put on your investigator hat. (After all, a business owner wears many hats.)
Do a little research, line up some possible payroll providers, and get ready to take notes. Find reviews online – that’s easier today than ever before. And ask around. Question some of your business associates as to how they handle their payroll needs.
When choosing a payroll provider, there are numerous questions that should be asked. To get you started, here are a handful of inquiries that you should make from a prospective payroll provider before seriously considering them:
- In order to sign my business up with you, what kind of information do I need to supply you with? And how can I be assured that the information will be safe?
- Will there be any problems working with my accountant or CPA?
- If some of my employees are in multiple states, do you still handle taxes?
- Regarding local taxes, do you offer filing assistance? (And with those tax filing services, do you cover charges related to interest or penalties?)
- If I decide to set up my payroll with you, what is the process like? (And how long will it be before we can run our first payroll?)
- I’ve looked at some of your competitors. What makes you better?
- What’s included in your basic service model? (And are upgrade options available?)
- How often will I see a representative from your company and will it be the same representative every time?
- How do I know you stand behind your work? Do you have any references?
- And ask about the service cost for a year: are there any hidden fees; how long the rates are in effect; if employees are added, does the price go up, etc.?
Qualified, Reputable Payroll Providers
A reliable payroll provider is worth their weight in gold. For businesses big, medium, and small, they should be able to provide any and all of the following services and solutions:
- Workmen’s Compensation
- Wage garnishment
- Tax filing
- PTO tracking
- New hire reporting
- Management reporting
- General ledger reporting
- Direct deposit
- 401(k) contribution reporting
- … And more
Looking for new payroll software or a reliable payroll provider? TRAXPayroll offers solutions to payroll issues, the newest payroll software available, and so much more.