How much time and money does your business spend on payroll? If you’re anything like most small businesses, you probably spend more time than you’d like organizing and double-checking your payroll, leaving less time to actually run your business. Then, there are the financial costs: you have to pay for the expensive payroll software, a computer capable of running it, and, depending on how big you are, the time of whichever one of your employees ends up running it. It’s no wonder even more experienced business owners consider payroll a big hassle!
Using a payroll provider can increase your productivity, decrease your costs, and eliminate errors you wouldn’t think to look for. After all, a payroll provider does only payroll, so they can catch more mistakes and get your payroll done far more quickly than you can, freeing up valuable time and money that your business can put towards more productive things. Payroll services are brilliantly efficient for small businesses, but what kind of payroll service does your small business need?
Choosing the best payroll service provider
Much like your small business, every payroll provider has different scopes and strengths. Some payroll providers can handle larger companies with many complex accounts; others are focused on small businesses with fewer accounts. Here are a few things you should consider when you’re choosing a payroll provider:
Services: Before you pick a fancy payroll package full of bells and whistles, you need to determine what services your business actually needs. If you aren’t sure, don’t be afraid to talk to a professional; most honest accountants and bookkeepers will be happy to help.
Time: Your time is valuable! Think about how much time each potential solution is going to take away from your core business, and try to minimize it.
Cost: You already know how important it is to spend your money wisely. Keep in mind that the best value isn’t always the lowest price!
Access: Any solution you choose should give you easy access to your payroll information and documents.
Overall, as a small business, it’s more efficient to outsource your payroll to a professional than to do it yourself; it’s less expensive, more accurate, and takes far less time. Just make sure that the service you choose can handle your needs!
Here at Business Bookkeeping Resolution, we specialize in small businesses, so you can always rest assured that your payroll is being done well. Curious how we could help your small business thrive? Contact us today!