Payroll Service Options For Small Business

We have affiliate partnerships with some of the services mentioned in ths post. We may be compensated for purchases originating from links our website.

Updated

Payroll service options

Payroll Outsourcing 

We will show you the benefits of outsourcing small business payroll duties and how to choose the best online payroll service. Most people agree that doing payroll is not the fun part of running a business. In fact it is often regarded as an annoying job. But, what if it didn’t have to be? Did you know that you can outsource your payroll services? Sure, maybe it sounds too good to be true, but there are actually realistic and affordable options that you can be looking at to help you make sure that you are looking at payroll providers that are actually going to take care of you and your needs without making you feel like you are giving away anything that isn’t worthwhile. All you need to do is know where to look for the best options.

online payroll service options for small business

Payroll Service Providers

First and foremost, what is actually out there for you to be looking at? There’s probably a lot more than you would have thought, and it’s great to know that you can have your pick from top payroll companies that are going to offer you quality service. As you might suspect, you may find some more appealing than others, but the main thing is keep all of these in mind and give them a chance before you narrow your search. Here are the top four options to seriously consider for your company’s benefit.

Best Online Payroll Companies For Small Business

We have listed on the home page Our Top 5 Favorites For Best Payroll Services.This is based on price, the number of features, ease of use and user reviews.

1. Deluxe Payroll
2. Square Payroll
3. Intuit Payroll
4. Paychex Payroll
5. Patriot Software

Local Bookkeepers

Local is best for a lot of companies that want to hand out paper checks, but the trend is direct deposit and local bookkeepers are being passed over for online payroll services. When it comes to payroll, some businesses just want a local office and checks in envelopes for employees. There’s something to be said for being able to go over and meet someone in person for the first time, during the process, and whenever you have any kinds of questions or concerns.

A lot of times, too, local bookkeepers can combine services so that you can use one source for all of your financial bookkeeping needs, including payroll. For those that are looking to make sure that you are covered for everything under one umbrella, a local bookkeeper is a great way to go. Who knows, you may even be looking at some sort of discount if you want to put all of your business into this local professional.

There is a drawback to consider about a local bookkeeper, and that is the fact that this is not someone who specializes directly in payroll. So, while this person may be perfectly professional and qualified, there is something to be said for having a professional within the specific field that you are looking to fill, which, in this case, would be payroll.

What Much Does It Cost To Outsource Payroll?

Expect to pay around $50. – $200 a month as a base rate and then $4. – $8 per employee per pay period. These prices move around a lot depending on the payroll features a small business wants and the number of employees.

Along that same line of thought, another option to consider is actual service providers specifically within the world of payroll. There are some big leading names to seriously consider, but first take a look at what these can offer you as a whole.

These kind of services are going to come equipped with all of the proper software that will take care of everything from new hires to end of the year tax details when it comes to payroll. This means that you will be able to simply hand over the data that they require and then it’s simply out of your mind as you get back to the parts of your small business that you need to focus on.

This has a lot of perks going for it, mostly in the fact that you’ll be able to rely on this to be mistake-free because it uses computer software to do most of the work so you won’t miss anything in regards to federal ruling or anything to that effect. It’s all contained in one place, too, so that you can put the professionals in charge of making sure that you are getting all of the right information with technology to offer a boost now and again.

The only serious drawback to consider is that it isn’t necessarily going to be local, so you won’t have the option to simply sit down and talk to the person doing the work for you, like you would with a local bookkeeper. Most of the time you’ll be getting a local representative, and that can be an additional fee, not to mentioned the idea of trying to fit a meeting into your schedule.

Payroll Software

When you’re looking at here is the idea of purchasing or subscribing to a computer program (or app) that is going to offer you a full payroll software. This is similar to the above option, except in this case you will be responsible for using one of your own employees to enter the information into the program that it’s going to require, so it wouldn’t be considered a true outsourcing that way.

Online Payroll

This is a great idea to consider if you want to make sure that you keep one foot in the door of what’s happening, because this is going to take a lot of calculations and work out of it (due to the nature of the software) and still offer you that inside view on what’s actually going on with the payroll. This will still properly cover anything from new hires to tax season, but you will remain in control of it.

This is a cheaper option than above because you will be responsible for doing the input and maintenance yourself and you will need to have an employee within your business responsible for doing it.

The downside to this option is that it isn’t entirely outsourced, as mentioned. This means that you will have to still be responsible for doing a lot of the work yourself, including data entry. So, you will want to make sure that you are okay with that before you take this on as a serious option. If you are small business that is looking to scrimp and save every single last penny, this might be a really great option to consider. For the best payroll software check out Intuit and Patriot Software, both on our top 5 best online payroll companies for 2019.

PEO, Professional Employer Organizations

This unique option will be the best one if you want something that is going to take care of, well, everything. This is on the list of best payroll services, but it’s also going to take on a lot of the HR work as well, including doing up all of the tax information. This is something that will take all things pay-related and HR-related completely off your desk and leave you worry-free to take on the rest of your business that is waiting patiently for you.

If you are a professional that doesn’t have a big HR team, or you don’t want to be dealing with a lot of the complications that it can cause, you may want to go with this option for those reasons in particular. These PEOs are going to buy your employees that you have for HR and then lease them back to you. So, you’ll still have an inner eye and can watch everything, but you won’t actually need to give it a moment’s thought.

A downside to consider with this particular option is that, since it’s going to be a full service, it will cost more than a lot of the other options. Since this PEO is taking on so much from you, you will need to cough up the cash for it.

This may not be a realistic options for those small businesses that are still in the very beginning stages, but you need to seriously consider it if you don’t want to be dealing with a lot of those complications.

Outsource To Online Payroll Services

So, you’ve read about all of the different wants that you can outsource your payroll, but why should you actually consider it seriously for your business plan? Why use the extra expense?

  • It’s got guarantees: When you are going with any kind of payroll service, you are going to be giving yourself access to guarantees in terms of accuracies and professional results. This is especially useful if your team isn’t its best at those things, or you don’t want to take any chances in professionalism.

  • It’s worry-free: When you go with the professional options, you are going to be able to simply stop thinking about it. You can put your mind to work, instead, on something that is much more pressing on your desk – your businesses. This will take care of the tiny and big details and leave you free to shut your eyes at the end of the day, relaxed and calm.

  • Less risk of errors: While we talked about this briefly, it deserves the same kind of focus. You will be able to trust these services to offer you an error-free result that is going to help you focus on what you need to to get it all done. You will be able to know that your payroll needs are being properly taken care of by professionals – whichever ones that you choose – so that you get the right professional results each and every time.

  • It offers you new contacts: If you go with a local bookkeeper, or even a PEO or go with Gusto, you’ll be making new contacts in the modern world that will help you to branch out and even grow your business if you treat them well. Making contacts is one of the most important parts of being in business, so make sure that you seriously consider this as being one of your perks.

Outsource Online Payroll

How To Choose The Best Payroll Service

Now all that remains is figuring out how you are going to pick the best one for you and your business. But, how? Do you know how to choose a payroll service that is going to work for you? Here are some tips to make that proper choice for your business’ sake.

  • Do your research: All of the options look great – and they are – but only you are going to know which ones are best for your company in particular. What’s right for everyone else may not be right for you, so go with what is going to work properly for your company’s sake.

  • Take your time: Don’t decide on one without taking the chance to look at all of the other options out there. Your decision needs to be informed and comfortable and that takes time to do right. The wrong choice can cost you a lot of money and aggravation, so pay attention to this particular step even if there is a sale!

  • Look for professional or personal recommendations: Recommendations from people and businesses that you trust can go a long way, so don’t be afraid to go and check to see who uses what and why. Knowing that a similar company can benefit from one kind of software or agency allows you to pick their brain and really understand why it works and what potential shortcomings it has. You still need to make your own choice, but having someone either recommend or veto a certain company or kind can really help you make the choice a lot easier in terms of your focus.

  • Look at what your competition uses: If you can, check out what your competition uses and make sure that you use that to factor in. Whether you want to make sure that you use a different one, or you want to match them, this can help you make your decision a little easier.

Deciding what particular kind of outsourced payroll option you want to use can seem like a daunting task, but you just need to remember that making the wrong choice is going to cause you a lot of frustration and money, just like the right choice is going to give you a lot of joy and practical benefits that are going to show you right away just how it feels to have the right pieces working together for your own enjoyment. Professionally, you need to make the decision on whether you want to outsource or not, and this is going to how you just how easily it can be done. So, now you just need to know if you are ready to take that leap and find the right company to help you out with your goals!

Leave a Comment

Your email address will not be published. Required fields are marked *