Hiring a payroll service for the small company can help you save money and time inside your accounting process. Since a payroll service plays such an integral role inside your business finances, following tips for selecting and dealing with a payroll service might help make your selection easier. There are some important what to consider before you hire a payroll service.
Get Recommendations and References As you may use the search engines or the local telephone book to find payroll services in your town, you are blindly choosing these companies. Talk to other small businesses, particularly those working in the same industry as your business, to see which companies they use for his or her own payroll needs. Use the internet and investigate the companies. Watch several videos, read a few customer reviews. If you need to interview some payroll services with no referral, obtain two to three references in the payroll service and check the references. Also, seek advice from the Better Business Bureau for the state to determine if any complaints exist about the company.
Determine Account Representative While a payroll service for a small company may have a salesperson you deal with up-front, discover who’s accountable for your account once you agree to use the company. When you hire the payroll service, this is the person you train with, would you like to meet this person, get to know her persona and ensure it is someone you can cope with on a regular basis.
Fees and Payments Find out upfront how much the payroll service costs and what is covered in their fees. Some payroll services offer various amounts of service. You don’t want to purchase more services than you’ll need, and also you need to make sure that you are contracting for all of the services you’re looking for. Ask the payroll service to provide you with the listing of services and costs on paper so you can evaluate it to ensure you are getting what you purchase.
Interaction Options Determine the ways your business interacts with the payroll service. For example, most payroll services use accounting software, so ensure that your two software systems are compatible so you can automatically upload your payroll information to the payroll service system over time for the company to prepare checks. Some payroll services offer web-based access and you receive a log-on name and password to upload the information. Whatever the case, ensure that you have an interaction method with the payroll service that matches your business.
Direct Deposit Verify how the payroll service conducts direct deposit for payroll check distribution. Direct deposit service can save your company money and reduce errors. Since most small businesses offer this like a payroll option for employees, ensure that the payroll service supports this effort.
Employee Self-Service Consider if the payroll service offers an employee self-service option. This method enables employees to log right into a web-based system to review their personal paycheck information history and even print copies of previous pay stubs. This service can eliminate the need for the employee to contact the payroll service or your recruiting manager to acquire these details.