4th Quarter Newsletter 2014
A Word from Our CEO
Year end is back again! Our 30th anniversary year is flying by. We look forward to many more!
2014 has been a year of change
for CheckMark, Inc. and we have a lot of surprises up our sleeves in the upcoming years. In the meantime, I believe you’ll be impressed with the rich, additional features of Payroll for 2015, along with additional changes for MultiLedger and 1099, available now.
As always, we love your feedback and seek to make this the best software for small business owners on the market at the most affordable price.
President and CEO
In Case You Missed It: 2015 Software New Features
- New Restricted Second Password: Now with the ability to enter a second password that limits access to only the Distribute Hours and Enter Hours screens for data entry.
- New Report Check Register Summary: Quickly access summary totals for Income, Taxes, Deductions and Net Totals in numeric order.
- New link to 941 mailing addresses (Federal Tax Reports Screen): Now easily reference those needed addresses.
- Added Pay Period dates in the Check Detail reports found under the Earnings Register screen.
- Check Register now shows 941/943 payment for better clarification that this number includes both payments.
- Current tax tables and forms for the entire 2015 calendar year.
- Free Basic Support to ensure you have a trouble free installation and easy transition into the new year.
- 2014 1099-MISC Form and e-File.
- Updated formatting for 2014 1099-MISC on blank sheets.
- New Summary report to help you reconcile your 1096 totals in Box 5 without having to physically print all reports first.
- With the update you also receive a free Basic Support package. Have peace of mind knowing our tech support team is there when you need us.
- Same lightening fast speed and user friendly experience you’ve known for years.
CheckMark 1099 Software
- 2014 1099 Forms and e-File requirements.
- New 1099 INT Form printing! Now print recipient and payer copies for 1099 INT on 4-up blank perforated sheets. One sheet per vendor.
- New Summary report to help you reconcile your 1096 totals in Box 5 for MISC, INT, DIV, R & S forms.
- Import prior year data for faster processing.
- Import new data with an easy-to-use import screen using a tab-delimited text file.
- Preview data before you print to ensure accuracy.
- Handles any number of companies and an unlimited number of recipients.
- Support included with your purchase for the filing year!
Payroll Software versus Service
Choosing between Payroll Software and Payroll Services is a tough choice every business owner has to face at some point. There are three main methods of running payroll for the small business owner: manually, a DIY software, or a payroll service. While running payroll manually is not recommended, payroll software and payroll services each hold their own pros and cons making your payroll processing method a personal business choice:
Payroll Software Pros:
- Control- you have control of all the details of running payroll, creating and viewing reports, and paying employees and payroll taxes.
- Cost- usually less than you’d spend on payroll services.
- Time Savings- compared to manually running payroll, you save a lot of time with software.
- Security- someone hacking in and stealing your payroll information is less likely when you have control.
- More data- you have easy access to any and all payroll data at any time.
Payroll Software Cons:
- Time- running payroll takes time. If you make a mistake you could spend a lot of hours trying to fix it.
- Staff- it takes time AND manpower to run payroll. Depending on your company size or complexity, payroll can take a lot of manpower to run in-house.
- Errors- In-house payroll accuracy cannot be guaranteed so you are more at risk for IRS penalties.
- Up-front Investment- some payroll software comes with a hefty price tag. Annual fees are something to take into consideration too when evaluating overall cost.
- Learning curve- DIY software can be complex and the learning curve could be steep.
Payroll Service Pro:
- Time savings- You save a lot of time in comparison to manual methods and payroll software.
- Free Up Staff Time- Payroll services opens up more time for employees to focus on other areas of your business.
- Cost effective- Payroll Services are cost effective for many companies after you add up the software costs and the staff costs to run it.
- Accuracy Guaranteed- Payroll services often guarantee accuracy of their payroll processing which reduces your liability for mistakes.
Payroll Service Cons:
- Cost- Payroll Services often cost more than payroll software methods.
- Less nimble- You don’t have access to as much data as you want, when you want it.
- Less control- you sign up for a service with set offerings.
- Expectations versus reality for service- might not be the same.
- Data security- although companies put a lot of effort into data security, it is more at risk when outsourcing.
- Initial cost- Set up costs for services can be expensive.
If you are going back and forth between Payroll Software or Payroll Service, give us a call at 970-225-0522 and we are happy to help you with that decision!
Order Forms in the Mail
Order forms for 2015 went out last week so you should be expecting them at any time now. You are always able to order online, download and mail in our online order form, order over the phone at 970-225-0522, or wait for your mailed order form to arrive. If you have any questions, feel free to give us a call or email us at firstname.lastname@example.org
CheckMark’s Services Revisited
Looking for change in 2015? Outsourcing services can be a huge time saver and ultimately can save you money. CheckMark offers customizable Payroll Services run by a certified payroll specialist assigned to you. We also have a multitude of Time Clock options and our Online HR Center to keep you in compliance with regulations. Request a FREE demo today!
Top Tips of the Quarter
Watch for End of Year Patches for Tax Forms
Keep an eye out for patches soon to come. They will update the 940 and the W2/W3’s. Remember instructions on printing your W2/W3’s can be found under the help menu of your program. Always look at your forms and make sure everything seems correct before mailing out.
New computer? Let us know!
Needing to update your computer? Just let us know and we can send you your CheckMark program installers. We can also assist you with migrating your data from the old computer to the new. Call 970-225-0522 or email us at email@example.com and we are happy to help!