Payroll Solutions For Small Businesses That Make Sense
40 percent of small businesses say that managing payroll is the worst part of running a business. This isn’t a surprise considering that payroll isn’t a manual process. It works best when a company automates and outsources its payroll services.
If you’re tired of running into the same HR issues, then it’s time to consider payroll solutions that will save you time and money. Lucky for you, finding the right complete payroll solutions doesn’t have to be difficult.
In this article, we’ll discuss everything you need to know about choosing the payroll services that are best for your business.
Assess Your Current Needs
Choosing payroll solutions like Ignite HCM requires understanding your company’s payroll needs. To do this, take a look at your current payroll system and what you like or dislike about it. You may find that there are some aspects of payroll that you love and others that need improvement.
For instance, if you’re using a manual payroll system, then automation can save you time with payroll tasks, such as calculating taxes and deductions for each employee paycheck. Or perhaps the use of employees’ personal checks is creating too many mistakes in your HR department? If so, consider switching to direct deposit instead.
Identifying what works well in payroll will help guide you toward choosing complete payroll solutions that suit all of your company’s needs. And doing so, it’ll make the payroll process less painful for everyone involved.
Consider Your Budget And Other Requirements
When it comes to payroll solutions, the cost is always a factor to consider. Thankfully, there are many affordable services available that will meet your needs. However, you still need to find the right provider who can offer the features you’re looking for at a price you can afford.
In addition to considering your budget, think about other requirements your company may have such as:
- Access to payroll reports
- Online tax filing
- Automatic updates on payroll laws
Knowing what’s important to you will help when comparing different complete paystubs solutions providers.
Remember That The Wrong Solution Can Be Costly
While it’s important to find payroll solutions that fit your budget, don’t forget that the wrong solution can be very costly. For example, if you choose a payroll provider that doesn’t offer online tax filing and you get audited by the IRS, you could face penalties and fines.
On the other hand, if you select a payroll service that offers all of the features your company needs but is more expensive than others, make sure to weigh the pros and cons before making your decision.
Always Check Online Reviews
Before choosing payroll solutions for your small business, check out online reviews to see what previous customers have said about the payroll provider.
For instance, do they offer great customer service? Are their payroll services reliable? Or are there many complaints against the software?
If you find that a payroll provider has more negative than positive reviews, then it may be best to choose one with better ratings instead.
However, if all of the reviews seem positive and they offer complete payroll solutions at a price within your budget range, then go ahead. You can’t go wrong by going with a company that maintains excellent customer relationships.
Consider Emergency Payroll Processing Services
No matter how well you plan, payroll emergencies can always happen. For this reason, it’s a good idea to have emergency payroll processing services available as a backup.
This way, if something goes wrong and your regular payroll service is unavailable, you still have a way to pay your employees on time.
When comparing different complete payroll solutions providers, be sure to ask about their emergency payroll processing services.
Compare Different ADP Payroll Processing Services
If you’re looking for automated payroll solutions, then ADP payroll processing services are a great option.
ADP offers complete payroll solutions that include:
- Payroll tax filing and deposits
- Time tracking
- Direct deposit or paper checks for employees’ paychecks
- Employee self-service portal to view payroll information (such as W-2s) online at any time.
When choosing interim payroll processing services for your small business, it’s important to consider all of the different options available. By comparing providers and features, you’ll be able to find the best payroll solution for your company’s needs.
Consult With Your HR Team
If you have a human resources (HR) team, consult with them before selecting payroll solutions for your small business.
They may have valuable insight into what works best and what payroll services to avoid. For example, they could recommend payroll service providers that are easy to work with or offer great customer support in the event of an emergency.
Watch Out For Government Regulations
As a business owner, it’s important to stay up-to-date on payroll laws and government regulations. Failure to do so could result in fines or penalties from the IRS.
When looking for complete payroll solutions, be sure to ask the provider about their compliance with government regulations. This will help ensure that you’re not breaking any laws when running your small business.
Prioritize All-In-One Payroll Solutions
If you’re looking for a payroll provider that offers all of the features your company needs, then an all-in-one payroll solutions provider is a great choice.
This type of payroll service includes:
- Payroll processing
- Employee onboarding and tracking
- Time and attendance tracking
- Tax filing and payments
- Benefits administration
- 401k plan administration
The best part is that most all-in-one payroll providers usually offer a free trial so you can test out their services before making a commitment.
Choose A Solution That’ll Scale With Your Business
As your business grows, payroll needs will change. Be sure to choose payroll solutions that scale with your company’s growth.
For example, if you run a small-to-medium-sized business right now but plan on expanding in the near future, then look for payroll providers that offer scalable payroll services and features.
This way when it’s time to hire more employees or open new locations across town (or even across state lines), payroll processing won’t be an issue.
Choose The Best Payroll Solutions
As you can see, there are several considerations to make when choosing payroll solutions for your business. Before you settle on a payroll solution, make sure to use the information in this article to your advantage.
This will allow you to get the best return for your spending. For more helpful business articles, be sure to check out our blog.