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What You Need to Know When Choosing a Payroll Service
by Brad Campbell Tue, 09/28/2010 - 14:37
The mindset of many smaller businesses is that they do not need to hire the services of a payroll service. This is a misconception which can cost you a lot of money in the end. This is because when you do not sign up for payroll service, you are rolling the dice that you will not make a mistake. If you do make a mistake, you will be on the line for fines and possible legal action. It is also important to keep in mind that when you have a professional on your side that you will also be able to spend your time running your business rather than working payroll.
Things to look for in a good payroll company
There are many different payroll services available out there. While they would all like for you to believe that they are better than the competition, it is no surprise that there are some which will clearly beat out the rest. Knowing which ones are the best takes knowing what to look for.
The first thing you should look for is whether the size of the payroll service will match your company. This is important because the larger companies will offer services which are not negotiable that you do not need. This can include things like human resources and more. Small businesses are better off working with small business payroll services instead. These tend to be more customizable to meet the needs of the clientele.
Next you should look for a company which will allow you to offer the rewards that you have promised your employees as well as the ability to control pay periods and more. This is an area where you should be able to call the shots so that you can give your employees what they have been promised. Make sure that if you are looking to have 401(k) or other promotions that the company will know how to approach this.
You should also look for a company which has experience working with your kind of business. This is important not just to make sure that they understand the pay structure. It is important so that they will understand things like union rules concerning pay and laws which cover income which is based on tips in addition to wages.
Controlling the price
Before you jump into a business arrangement with just any company, it is a good idea to make sure that they will be within your budget. Consider whether you are getting all of the services that you are looking for as well as making sure that you can afford the services. This will help you to make it affordable to get the assistance you desperately need so that you can simply run your business.
Once you start really looking into the different services which are available from the payroll services, you will get excited about signing up for your own service. This will help you to get back your time so that your business can be more successful.
About the author
Resource Nation provides free tools, tips, and purchasing advice for business owners and entrepreneurs in over 100 business categories ranging from phone systems to credit card processing. Whether it's connecting businesses with local and national pre-screened vendors, or offering easy service comparisons on a VoIP service, Resource Nation empowers business decision makers by providing the information they need to make smart choices.