If you’re running a business, payroll is just one of many tasks that must be handled. Handling payroll on your own can take a lot of time away from other important work like generating revenue, connecting with customers and building your team. Payroll services simplify the process and can help you manage payroll more efficiently.
When you use a payroll service provider, you can focus on your company’s Marinas Payroll Services core functions instead of worrying about the details of calculating payroll each time period, printing and distributing paychecks or pay stubs, and processing tax withholdings and reports. With a good provider, you can also get peace of mind that your data is secure and your payments are processed accurately.
Payroll Services Cost
Using a payroll service can save you money because it eliminates the need to hire a full-time accountant or bookkeeper and can handle all of your payroll taxes for less than what it would cost to have an in-house employee handling these duties. Additionally, payroll services can be tailored to fit your unique needs. Some offer different pricing structures including a flat monthly fee, a per-payroll run fee or a combination of both. Some also have a minimum monthly payroll amount and/or maximum number of payroll runs.
A good payroll service provider will stay on top of local, state and federal changes to payroll laws and regulations so you can rest assured knowing your business is in compliance with all necessary guidelines. A quality provider can also handle workers’ compensation, FUTA, ACA and unemployment insurance payments and reporting.
While comparing costs and features, it’s worth asking the payroll service providers you’re considering whether they have experience working with businesses like yours. This will give you confidence that they understand your specific requirements and can offer the best solution.
Other factors to consider include the ability to customize your system and how quickly you can receive reports and invoices. You should also find out how the provider handles new hires, wage garnishments and time-off requests. You’ll also want to check whether they can provide a variety of payment options such as direct deposit, paper checks and prepaid debit cards. Some services can also automate 401(k) deductions, track and pay contractors and issue W-2 and 1099 forms at the end of the year.
Lastly, find out what integrations the provider offers and whether they’re compatible with your other programs like accounting software or time and attendance systems. This can save you a lot of time as you won’t have to manually transfer data between programs. You should also look for a service that offers cloud storage which makes it easy to access and import documents. This can also help you to keep your records organized and reduce the risk of misplaced or lost paperwork. Also, ask about any security measures they put in place to prevent tampering or theft of sensitive information and documents. Good quality providers will have high-level encryption, multiple server locations and backup facilities to ensure the safety of your data.
