payroll help!

When shopping for a payroll service company, you should ask if they offer the features listed below.  If you are a small or medium sized business, the large national payroll firms should be your last choice!

Choosing a Payroll Service.

Beyond security and service concerns, here are a few things to look for in a payroll vendor:

The payroll services vendor you choose is a big decision.  Vendors have access to your most valuable assets- employee and financial information.  In many cases, they have direct access to your business bank account.  Choosing a trusted vendor is of utmost importance.  Do they impound your money and then pay your payroll taxes at a later date? Try finding a payroll service that directly pays your taxes from your account to the proper government agency. You will be certain when you see the transaction, your taxes are being paid in a timely manner.

Reputation
A good payroll outsourcing company has a reputation for accuracy and trustworthiness.  Most payroll processing companies will guarantee their work by offering to pay any charges that they incur by way of late filings or erroneous preparations.  Ask a vendor how many times they’ve had to pay out fines in the past year.  Good payroll services will NOT require you to sign a long term contract. They must earn your business every pay period or you have the right to leave. In most states, you as a business owner (or your corporation, if you are incorporated) are liable to employees and government agencies for payment irrespective of the actions of a third party payroll company. By selecting a payroll company that pays your taxes at the time of your payroll will help you feel better knowing taxes are paid promptly.

Services
Make sure the vendor offers the services you need at a price that is within your budget.  These can include industry specific such as pay as you use workers compensation, long-term care or medical savings accounts, or catastrophic loss insurance.  Ask the vendor if they have experience in your industry, and make sure you get all of the services you need. 

Operating Procedures
The main reasons businesses switch from one payroll company to another is user interface and price.  The way you “call in” payroll can make a big difference, and so can the turnaround time for payment.  You want the shortest turnaround time possible (i.e. Calling on Thursday for a Monday payment).  The shorter the turnaround, the easier it is to make sure that payments are accurate and free of any last minute changes to hours worked, types of hours, or other payment adjustments.  It’s also important that you’re able to access your account easily. 

Some vendors let you “call in” over the phone, others require you to enter information over a secure website.  How long do the procedures take?  Will you be reminded if you forget?  What’s the procedure if you’re unable to provide information on time?  Make sure you ask these important questions.

Will your payroll company notify you of abnormal transactions? If your payroll is normally $16,000 per pay period and suddenly you run a $22,000 payroll, will your payroll service call you to verify?

When you call your payroll service, will you talk to the same person or a mega call center either in the US or or in a foreign country?  

Make sure you consider the above, and don’t just go with the largest company. 

Free Pay Cards
Some businesses employee individuals that might have challenges with a banking relationship.  Traditionally these employees opt to get a paper check.  Paper checks mean you have to pay a delivery fee to your payroll company and must be available to sign checks.  Pay Cards replace paper checks.  Employees get a Visa/Mastercard debit card that allows them to have money deposited to the card.  They can then take the card to a bank to get their money without having to pay a check cashing fee. 

Strong Customer Service
When you call your payroll service, do you wait on hold for 5 minutes trying to get redirected to the right department?  Do you have a dedicated person assigned to your account offering continuity of service, or do you introduce yourself every time you need help?  It is really important that you feel comfortable with the staff of the payroll service that you choose.  If you needed to call a member of senior management, will you know who to call and will you get through?  Big payroll companies have a place on this earth.. they service the needs of big companies.  Find a payroll service that values you as a small or medium sized business owner and depends on your growth as part of their growth. 

We make finding a payroll company easy!