Call Us: (704) 534-2024

E-Mail: info@bookserviceclt.com

Request a Quote

Aug 29 2010

Is Hiring A Payroll Service Provider Right For Your Business?

Is Hiring A Payroll Service Providers Right for Your Business?

Read more articles at Bookkeeping Services of Charlotte, NC

              

outsourcing particular business tasks can enable you to free up resources and energy to focus on your core competencies. Payroll is an important function and in all likelihood it makes sense to outsource payroll administration rather than hire in-house resources and dedicate them Solely to the function. Payroll companies help you organize your payroll, adhere to policies and procedures, and employees get paid on time.

To stay on top of your tax obligations is reason enough for your company to consider using a payroll provider. Payroll administration warrants attention to detail and even the smallest indiscretion can attract heavy penalties from the tax authority of your country. In the U.S., the IRS has a history of levying heavy fines on small businesses for even the smallest transgression. Recently released statistics show that one out of every three small businesses is penalized in some way for not complying with tax laws.

Why should you outsource payroll processing?

If you company is large enough, you may choose to conduct payroll functions in-house but be prepared to hire at least a couple of employees dedicated to this function. You will also have to allocate resources to continuously train staff in use of your payroll and accounting software to keep up with the frequently shifting state and federal tax laws. So if you are a growing company that is continuously adding new employees, teams and locations, managing payroll is going to be quite a challenge. Do you really want to get distracted from the core functions of your business by administering payroll yourself?

Payroll service providers are experts in what they do and have economies of scale since they administer payroll for many other companies. More than likely, they will deliver to your company payroll services cheaper and more efficiently that what you can do yourself.

What Companies Provide Payroll Services Thurs

Payroll companies provide various services. The following are the most common:

* Calculating pay checks for each employee
* Addressing tax obligations on a local, state, and federal level
* Printing and delivering checks
* Providing management reports
* Tracking employee benefits information
* Automatic check signatures
* Providing direct deposit
* Processing W-2 forms
* Processing 401k plans and mutual fund
* Addressing needs for your company tax and providing tax preparation

How to choose a payroll service?

Ask for quotes from several companies before making a final decision. An easy way marketplace to request quotes from multiple providers is to go to a B2B. Keep the following in mind as you decide on the provider.

* Can they provide accurate payroll service without any mistakes in employee’s pay or providing tax information to the government? Ask for history of efficiency.

* An occasional mistake is acceptable but how quickly can they correct it. If the payroll service provider is overstretched, they may not have the resources to quickly provide the remedy.

* Is the payroll system providers and software compatible with your own operating systems? Would it be possible to transfer data to and from your business easily?

* Are the references flawless? Excellent customer service to business owners and its employees is important.

* How many clients is the payroll provider serving? Large number of clients may indicate a successful service but attrition in the past few months may indicate deteriorating quality. Does the provider have adequate resources to serve your business?

* Is the pricing competitive? Some companies may bait you with low basic fees and charge heavily for extras. Ask for an all inclusive package to compare prices.

Once you decide on a payroll provider, scrutinize the contract very carefully for any hidden fees or charges that may kick in after a few months of service.

Check the first few pay checks very carefully for any mistakes. It is better to uncover the issues early enough before they get compounded and more difficult to fix.

Hiring a payroll provider is an important decision for your business. It is tough to easily switch a payroll provider if you make the wrong decision. Make sure you adequately research all possibilities before making a final decision.

This article was published at Bookkeeping Services of Charlotte, NC

Aug 21 2010

Finding The Right Payroll Service Provider

Finding The Right Payroll Service Provider

Read more articles at Bookkeeping Services of Charlotte, NC

              

For most businesses, delegating the task of sorting out the payroll processing of the organization has become the norms and is definitely the way to go. A large number of enterprises, both big and small, are eventually seeking the help and expertise of payroll service companies when it comes to addressing the employees’ payroll processing needs. This is because entrusting this task to a firm that specializes in the payroll processing service and understands the tax laws associated with the process could be a huge help in providing ample time for other more important business concerns.

It is then imperative for the company to find the right payroll service provider To ensure the efficient implementation of the payroll processing service. The following are some tips and suggestions to keep in mind when choosing among payroll service companies available:

First off, a good payroll service provider must assure a prospective client that it will be held responsible and accountable in the contingent obligations that event occur. This means it guarantees that probable penalties and incidental fees will be paid in the event that errors are committed on its part. Mistakes that are brought about by missed deadlines or inaccuracies in the payroll processing service should be dealt with accordingly just because even a single day could already cost the company thousands of lost earned income and opportunities forgone.

Another characteristic that quality payroll service companies must possess is the ability to reach the breadth and width of the more than fifty states and the chance to provide service to them regardless of the office location. While a small payroll service provider can still offer convenient payroll processing service to a company, its limited physical location could be a hindrance in effectively utilizing the efficiency that comes with such payroll processing service .

And since the global economic spectrum is resting on the new Information Age, but it is necessary that Internet accessibility be an integral part of choosing the best payroll service provider to service the company’s payroll processing service needs. Of course this Internet requirement will be used hand-in-hand with the national reach capability of prospective payroll service companies. This is more so important to small and medium-scaled enterprises as entering salary data could be done in a jiffy, when you want it and where you want it.

While there may be a lot of payroll service companies out there professing payroll processing service quality and unparalleled success, it is always safe to choose based on what exactly are the needs of your company and Whether these needs are easily met and understood by a probable payroll service provider.

This article was published at Bookkeeping Services of Charlotte, NC

Aug 12 2010

HR/Payroll Service Center and Walking at Work

The folks who answer your questions about payroll and HR are spending time this Active U season walking while they work.
Video Rating: 0 / 5

This video was embeded at Bookkeeping Services of Charlotte, NC

Clay Bloxham, owner of Pay Pros, discusses the difference between a PEO company and a payroll service on The Entrepreneur Life radio show.
Video Rating: 0 / 5

This video was embeded at Bookkeeping Services of Charlotte, NC

More Payroll Service at Bookkeeping Services of Charlotte, NC

Affiliations
Connect With Us
Subscribe to our Newsletter
Our newsletter contains valuable small business tips and resources.