A Reliable Payroll Services Company offers expertise in payroll, taxes, HR, and workers’ compensation with a focus on quality to small to large companies. 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 a 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.
Any affordable and reliable payroll services provider for small businesses is 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 the government
- Additional services such as benefits administration, retirement services, vacation and time-off calculations
The most effective and reliable payroll service company helps small businesses in reducing costs, 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?
An effective and accurate payroll process is important for the satisfaction and productivity of your employees. A simple error can cost you dearly and lower the morale of your employees. With small business payroll services companies, you can rest assured that your company’s payroll data and information is in safe hands. The qualified and professional team understands every IRS law and will work along with you in growing your business to the next level.