Payroll Services: Costs and Considerations for Small Businesses

Payroll processing is important to businesses of all sizes.

When you’re just starting out as a small business owner, you watch every cent that you spend. You have to weigh all your options, including staffing. It can be literally backbreaking because you have to do most of the administrative tasks as hiring additional staff costs money. Sometimes, it is better to outsource some of the regular office work, like payroll and accounting so you can concentrate on growing your business instead of getting bogged down with running the office from day to day.

Growing your business and acquiring more clients should be the main priority of the business owner of any small business. Consider to outsource your payroll and accounting to a company with many years of experience and many client referrals that say they are tops in their field.  This company is ePay Payroll of Chino Hills Ca. Call them today to learn more about how they can help your grow your business by not having to worry about your accounting and payroll. They can be reached at (866) 340-8132.

Considerations

One of the first things you have to consider if you want to use a payroll services company is cost – a service company versus hiring staff. If you only need the staff to do payroll, using a payroll service company wins hands down. It is a more efficient and effective way to manage your payroll, whether it’s weekly, bi-monthly or monthly.

Cost of Services

The rate charged by a payroll service company varies depending on the services that you require. The most basic will range between $0.80 and $2.00 per check issued plus a flat rate that’s going to be charged per account based on payroll frequency. Direct payroll deposit and tax filing add about $4 to $9 per payroll cycle. On the average, a retail store with 12 employees and two locations will pay about $80 each month. You can start with a basic service of payroll calculation and tax obligations for each of your staff, as well as printing and delivery of checks and payroll report. You can choose the frequency of paycheck delivery.

Other services

Payroll service companies offer other services such as direct check deposits, envelope stuffing, automatic check signatures and issuance of W-2 forms that go for $1/form. Moreover, many firms now also offer tie-ins with Section 125 mutual fund plans and 401(k).

For a startup, the service offerings of a payroll service company provide you with several benefits, as you do not need to train your staff in accounting and payroll procedures. You also do not need to invest in software and hardware that will add to your operating costs. On top of this, a payroll firm understands all the requisites and laws. You avoid IRS fines or penalties due to error in employee payments and tax withholdings, as it is part of their service to see to it that your payroll is compliant of all existing rules and regulations.

Call ePay Payroll today for help with your accounting and payroll processing at this number (866) 340-8132.

References:

https://www.foreignstaffing.com/blog/how-much-does-payroll-outsourcing-cost

http://smallbusiness.costhelper.com/payroll-serivce.html

https://www.entrepreneur.com/article/47340

March 3, 2017
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