Top 4 Factors to Consider When Choosing a Payroll Service Provider

Businesses are devising ways of outsourcing payment structures for their employees. Payroll service providers are skilled in this discipline, having the capability of processing payrolls more efficiently. Furthermore, utilizing the services of the right payroll company can go a long way in saving the organization a substantial amount of money in the form of hiring the services of in-house personnel to undertake the job. Factors to consider when choosing a payroll service provider include:

· Payroll accuracy

When choosing payroll services it is advisable to consider the payroll accuracy. Paychecks that are incorrect have the ability of making you and the employees unhappy. The right payroll provider understands the importance of ensuring each of the paychecks is processed accurately. The right payroll service provider will consider going over the payroll with the organization in detail, while offering you all the important information that you need.

· Considers the organization’s future needs

The right service provider takes every initiative to check the accuracy of the payroll together with you. The service provider will review the hours worked, number of checks and the total amount of the payroll. They will also consider checking important details every time the provider takes from the organization payroll information.

· Unmatched client services

The organization needs to find a service provider that has been in the business for a reasonable amount of time servicing many clients. This way, the service provider will be in a position to know the degree of involvement required. The right service provider should be in a position to offer self-service and full service options. They should have a payroll specialist who can help decide a complete payroll service from the beginning to finish. They should also be in a position to offer a web payroll system that offers a self-service option.

· Responsible for filing errors

Whatever, degree of involvement the organization chooses; the right payroll specialist should be ready to respond to any concerns or questions raised. Some payroll services fail to offer this kind of personalized system. Some providers offer the call center approach, where the organization gets to deal with different persons each time the payroll data is submitted. With this approach, clients find it difficult to find someone they can depend on for every payroll.

Although making mistakes is not common in preparing your own payroll, this can still cost the organization. The valuable energy and time spent figuring how the money is allocated can be spent making money. This explains why many organizations are outsourcing their payrolls.

Find the Best Payroll Services

If your small business has been steadily getting bigger over the years, then you have likely seen in a big increase in the responsibility and paperwork that happens within the office itself. Depending on the type of work you do and the services you offer, most of your work may normally keep you out of the office in the field. Lately, you seem to spend hours on things like time sheets, insurance and payroll. Even hiring a person for the office has not seemed to slow it down. It may be time for you to consider finding the best payroll services available to help you with your business.

You may be surprised at just how much time you can free up by finding a business to help handle your payroll. There are many companies out there that will take over the duties for you. Your job is to find that one that best fits your needs and your budget and will help you get the job done.

At first you may think that your company may not be big enough where one of these large payroll firms will be willing to work with you. Perhaps you feel that you are just a small fish of a company and they would not consider you or charge you a very high rate because you are not as large as some of their other clients. Many people feel the same way and this keeps them from trying to find a company to help them.

The fact is that there are both large and smaller payroll services that can help your business, no matter what the size is. The trick is finding the best fit for you. You will need to do some investigative work in order to gather all the information you need, but in the end your work will be worth it to you.

You can try contacting some of these companies directly. They all have customer service representatives who can help any answer any questions you may have over the phone. They can also put you in contact with agents who can help handle your account once you are established.

Most payroll companies also offer websites where you can find out many things about them. You may be able to get enough information off their website to get a clearer understanding of what it is they can do for your business. You may not be able to get a direct price quote from them, but they will certainly contact you if you submit your information online.

There are also websites and businesses that will help you get quotes and choose from among many payroll services. These businesses will get all your information and then put it through their service to get pricing for you. You can then choose which best fits you and your needs.

Finding payroll services does not have to be a big headache. With the help a guidance of a professional service, you can easily find a company that will work with you. You can then go back to concentrating more on running a successful business.

Payroll Software – Top Five Time Savers

Are you feeling stressed when it’s time to complete your payroll? Take advantage of the tools available within payroll software to eliminate your stress and shorten your payroll processing time. Here are some time-savers that can make a drastic impact on your payroll processing.

1. Ditch the Spreadsheets.

Most businesses do keep track of pay codes within their payroll software system. Pay earning codes store the formula used to calculate each employee’s pay. On the other hand, pay deduction codes are used to calculate things like vacation, paid time off, wage garnishment and a whole host of other functions. Many employers opt to keep track of deduction codes in separate spreadsheet. The general belief is that the payroll system cannot calculate their specific deduction needs because they are too complex. The truth is, there are payroll software systems that can handle a wide variety of deduction codes, including the complex. It’s worth checking into. Once deduction codes are set up, the system handles the calculating, and you don’t need to bring in that information by hand.

2. Pay via Direct Deposit.

You might be surprised how much time you spend printing checks, stuffing envelopes, and managing printer and paper supplies. These can all be gone if you choose to pay employees via direct deposit. Instead of printing, stuffing, and delivering, checks are distributed in one short step to the bank account of the employee’s choice. You save time, and employees get their pay faster.

3. View Pay Data Online.

If you pay employees via direct deposit, you can cut out the step of printing and distributing the pay advice slip – a document that contains information about employee pay. Put the pay information online, in a secure environment, where employees can log in anytime to get the pay information they desire. As an added benefit, if an employee calls years later looking for pay information, you can simply get them their password, instead of scouring through old files to find things like their W-2.

4. Copy Pay Runs.

If you don’t want to recreate your payroll entirely, use the ‘copy pay’ function to copy pay from a previous pay run, for those whose salary remains the same, such as salaried employees. Using this function can save you many manual time entries!

5. File Taxes Electronically.

There are so many unnecessary steps when it comes to filing payroll taxes. Order the forms and envelopes, run the data, print the forms, stamp the envelopes and mail them. And that doesn’t even include printer maintenance! Skip all of the extra work and file your taxes electronically!

If you have used the same payroll system for many years, check and see whether any of these time-saving features are available to you. They can really cut down on payroll processing time.