Whether you employ just yourself, 25+ people, or fall somewhere in between, finding the payroll provider that is right for your business is a crucial step that will save you time, money, and set your business up for success.
What do payroll providers do?
Payroll service providers generally offer more than just basic payroll calculations. Most providers use technology to reduce administrative tasks for business owners while creating a positive experience for your employees. For example:
- Automatic payroll processing - Once your process is set up, you’ll never miss a payment for your employees.
- Tax withholding and wage deductions - These systems ensure that the appropriate taxes and other deductions are withheld from the employee wages.
- Tax filing services - Some providers file federal, state, and local taxes on behalf of their clients. They may also assist with year-end reporting and prepare Forms W-2, 1099-NEC, etc.
- Compliance expertise - Tired of regulatory changes that affect your business? Some providers keep track of this for you so you’ll never miss an important change.
- Payroll reporting - Detailed reports either for your own records or for your employees that show how their salary, taxes withheld, hours worked, etc.
- Integration options - If you use other services, some providers can link directly to your employees' benefits, human resources, workers' compensation, time tracking, expenses, budgeting, etc.
How should you choose the right provider?
There are hundreds of options, including a DIY (do it yourself) method. Ask yourself the following questions and then as you shop around for the right fit, make sure to bring up concerns that are specific to your business.
- What challenges am I currently facing with payroll?
- Do I use accounting software for my finances, and is it compatible with any payroll providers?
- Do I want a provider that offers customer support, or am I prepared to learn on my own?
- How much time do I currently spend on payroll-related tasks? Will I be able to set aside this time if my business grows? How much time can I save by signing up for a payroll provider?
If you already have a payroll provider but are not happy with the experience, you can absolutely switch. Make sure to chat with your current provider to understand your contract and what it might entail switching providers. The good news is that it’s possible to make a change with minimal interruption to existing operations.
Ready for the next steps?
Whether you are signing up for a provider for the first time or eager to switch, we’d like to share a special offer to the Axis Helps small business community.
We’ve partnered with ADP to ensure that our small business owners will have all of their questions answered by payroll experts! To learn more about how ADP can help your business send us an email at email@example.com and we will connect you with our local service rep. You will receive a FREE consultation to discuss your business needs and 20% off whatever package you decide is the best fit for your business.