How much time do you waste in gathering time cards, adding hours, calculating taxes, paying employees and filing taxes? According to a study, on average, 7 minutes are required for preparing, computing, and verifying time cards. If you prepare 50 time cards weekly, then it will take approx. 6 hours of your precious time. This time period is just for preparing time cards, and the time will add up for the further processing of payroll.
During the initial phase of the entrepreneurial journey, as a small business owner, you have to wear multiple hats but that doesn’t mean you waste your time in non-revenue generating activities. Remember, “Time is of the essence” and it is one of the greatest resources for small business owners around the world.
Additionally, in order to grow your business, you need time to be on your side or else your old-fashioned ways of calculating and administering the payroll process will not only hinder but also stagnant the potential growth of your business.
According to a survey conducted by OfficeMax, small business owners cumulatively waste 4 billion hours each year in administrative and supervisory tasks. If you are one of them, then you need to seriously consider the following two options:
- Payroll Software + Accountant/Bookkeeper
- Outsourcing Payroll Services
The former is suitable if you want smooth, accurate and in-house payroll process while the latter is appropriate for small business owners, who want to focus more and more on developing and increasing business across horizons.
CheckMark’s simple and affordable payroll services for small business are specially designed to unshackle owners from cumbersome and time-consuming activities and help them in increasing their business revenue by managing cash flow, following tax rules and providing time.
Choosing the most reliable and affordable service provider is always a herculean task for business owners. However, ensure that the following services are provided under one platform:
- Calculation of employees’ wages and disbursing them via direct deposit or checks
- Creating paycheck for your employees
- Withholding, filing and paying employees’ taxes to the appropriate state and federal agencies
- Issuing and filing employee W-2 and 1099 forms at the end of the year
- Reporting new hires to government
- Additional services such as benefits administration, retirement services, vacation and time-off calculations
The most effective payroll service company helps small businesses in reducing cost, eliminating liability and saving time. Below are some of the questions you should ask yourself before selecting a payroll service provider. If the majority of the answers are “Yes,” then no need to search for the second option, since you have hit the gold spot. The questions are:
- Is the company trustworthy and dependable?
- Whether my data can be safe and secured in their hands?
- Whether they accurately withheld the state and federal taxes or not?
- Whether they file and pay taxes to the IRS on time or not?
- Are they aware of all the payroll tax requirements and deadlines of every state in the United States of America or not?
- Are the costs transparent and affordable?
- Whether they have any hidden or annual maintenance fees?
- Will the simple monthly pricing based on the number of employees suits my business?
- Whether they have clients in the USA or not?
- Do they have a decent customer and tech support?
Effective and accurate payroll process is important for the satisfaction and productivity of your employees. A simple error can cost you dearly and low the morale of your employees. With CheckMark small business payroll services, you can rest assured that your company’s payroll data and the information is in safe hands. The following are our payroll service plan for small businesses:
- Basic– Processing your payroll and direct deposits in bank accounts. All you need to do is to submit your payroll data online to us and we will take care the rest of the process.
- Pay & File Pro– Dedicated payroll specialist will take complete responsibility of filing and paying your federal, state and local payroll tax. (Basic package benefits included)
- Pay & File Complete– Dedicated virtual HR department will assist you to stay in compliance with laws and regulations. (Basic and Pay & File Pro package benefits included)
Our qualified and professional team understands every IRS law and will work along with you in growing your business to next level. If you are looking for affordable, dependable and accurate payroll service for your business, then don’t look beyond CheckMark, USA’s most trusted and reliable payroll solution provider.