Regardless of the size of your business, whether you’re a three-person operation, a thirty-employee small business, a company of 200 strong, or even larger, there are certain things you must consider about how you pay your employees.
For small businesses especially, the conundrum may lie between paying your employees yourself and utilizing an outsourced payroll service. If you happen to be well versed in payroll tax laws, and have an in-depth understanding of accounting, dealing with your business’s payroll may not be such a big deal – but for those of us who are not up-to-speed on the ever-changing myriad of tax policies, a payroll service might be the better option.
Now that you’ve determined that you should outsource your payroll services, it’s time to delve into choosing the right payroll service for your specific business.
What services do you need?
Payroll services can provide you with a host of different features that range from traditional to innovative. Does your business need paper checks? Will you provide direct deposit services? How would you like to access your reporting – electronically or through physical copies? Services include, but are not limited to:
- Processing payroll
- Payroll taxes
- Benefits administration
- Paid time off
- Retirement services
- New hires
- Report filing
What type of provider suits your business?
You can find online payroll services that can be accessed from any location at any time, or you can go with a local accounting firm to receive more personalized services. Online payroll services may be convenient when everything is working properly, but dealing with call-centers when problems arise can be frustrating for everyone involved. Utilizing a local payroll service, like that of Charles Motl CPA & Associates, you can get personalized service and work with a specialist who knows everything about your account and your business needs.
No matter what type of provider you choose, make sure that you do your due diligence before entering into any type of service contract. Considering a providers experience level, reputation, and service record can help you to ensure that your business, and your employees, are in good hands.