Finding the right payroll services for your small business can be tricky, so many different options are available. You want to choose a service that’s affordable, easy to use, and offers great customer support, but how do you know what your options are and which ones fit the bill?
This guide will help you figure out precisely what payroll services are available to your small business and walk you through some of the more important criteria you should consider when selecting the best payroll provider for your company.
What are small business payroll services?
Small business payroll services are a type of payroll solution that small businesses can use. They manage all payroll activities, including filing and remitting state and federal taxes. If you’re already handling payroll on your own, you might be wondering if outsourcing is a good option. In most cases, it’s better to seek professional help.
Start With the Basics — Accountants or Bookkeepers?
There are a few choices when it comes to small business payroll, but first, you need to figure out if you need an accountant or a bookkeeper.
Accountants specialize in accounting and tax preparation. They help businesses with their taxes and other accounting procedures like budgeting and forecasting.
Bookkeepers focus on bookkeeping, which includes all of your financial records (payroll, invoices, payments) as well as filing all necessary reports with government agencies.
It’s unlikely you need a full-time accountant or bookkeeper, especially if you’re just starting and have no employees. An accountant can easily cost you a couple of hundred dollars per month. Instead, consider using a service that offers bookkeeping and accounting in addition to all-inclusive payroll services.
Finding a Local Provider
If you’re a small-business owner, you know payroll is a pain — and it’s one of those tasks that can seem scary and mysterious if you don’t have experience. If you don’t mind putting in some extra legwork, look at local payroll service providers.
Most are easy to find with a simple Google search; ask friends and business colleagues if they have any recommendations.
You can find the best payroll services for small businesses right here at Owen Financial Services.
Getting Free Quotes
There are plenty of payroll service providers out there, and getting free quotes is always a good idea. After all, you’re committing a lot of time, money, and resources into starting or running a small business, so you need to make sure that you’re spending it on something that will actually work. One of the easiest ways to do that is by getting free quotes on payroll service providers.
Get Everything in Writing
Many people choose their payroll service provider based on gut feeling and what seems fair when they’re getting a quote from them. As an entrepreneur, you’re better off doing your homework first.
Get everything in writing when choosing your payroll service provider — the final price, how it will be calculated (i.e., by hours or employees), and when your bill is due each month. Also, never forget to ask about cancellation fees if things don’t work out.
Consider Your Needs Over Price When Hiring
Understandably, a new entrepreneur might gravitate toward a payroll service provider because of price, but it’s essential to consider your needs over price when hiring.
You may be surprised at how affordable professional payroll services can be if you consider your needs first. Are you simply looking for a cheap payroll solution? Or do you want quality customer service, expertise, and support?
While it may seem obvious, choose a payroll service provider based on their expertise in your industry or market.
The most common mistake is choosing a payroll service just because they offer low rates. Don’t make that mistake! A good payroll company will charge more than a bad one, but they will also provide better customer service and more value overall. Payroll is one of those areas where you get what you pay for.
If you consider using online payroll software instead of an actual human being to process your payments, think again.
You can get one of the most reliable and affordable payroll services in the USA at Owen Financial Services — having over two decades of experience, Owen Financial Services are more than skilled to offer you the best. For more information and to get your free quote, book an appointment.