An excellent online payroll service makes paying your employees and calculating taxes a breeze. But which one should you choose? Consider these factors when deciding on your provider: Check that the providers offer robust customer support. Look for support centers, knowledge bases, and after-hours phone or email options.
Modern online payroll services can scale to accommodate the size of your company. Most have a base fee and per-employee charge, so evaluate their pricing structure carefully. Some also levy an additional transaction fee for each payroll run. Employee Self-Service features are another way online payroll services can scale to meet your company’s needs. Look for a fun interface that makes it easy for employees to verify PTO, download payslips, or access other information. Also, consider how easily customized reports can be pulled from the system—this frequently came up as a concern in our customer reviews and interviews.
The best online payroll services provide a single source of truth for all your employee data. The information is automatically updated, and you can track changes in real time.
Payroll can be a daunting, time-consuming task for business owners, and getting it wrong can lead to everything from unhappy employees to heavy fines for lapses in compliance. An online payroll service can help.
Most online payroll services offer a tiered pricing model to cater to businesses of different sizes. Be sure to carefully evaluate each provider’s pricing structure to determine the least expensive for your business.
It’s also important to consider how the payroll system will link with your other systems. Many online payroll services offer integrations with accounting software, and some even include features to help you administer benefits and track employee time logging. Be sure to ask how much these features will cost and whether they are included in the base package or require an additional fee.
Payroll services help businesses calculate employee paychecks each payroll period and withhold, submit, and pay local, state, and federal taxes. They also manage PTO and provide new-hire reporting, integrations with other programs like time and attendance systems and accounting software, and easy access for employees to view their pay stubs and year-end tax forms.
However, as your business grows, it may require more customized features like overtime tracking, specialized deductions, and remote worker support. Make sure your chosen payroll service can adjust with your growth. Ideally, you’ll want a provider that offers flexible pricing and a seamless transition when you need to switch plans or add more employees. Similarly, your service should provide an intuitive interface that makes it simple for employees to self-service their information and request PTO.
An excellent online payroll service provides easy ways for employees to get paid. This includes direct deposit options, convenient access to pay stubs, and the ability for employees to print checks on-site. It also ensures that tax filing and payments are accurate and timely to avoid costly penalties.
The service should also provide comprehensive reporting and data security. This is especially important since payroll management involves sensitive employee information that needs to be transferred between teams. Inaccurate and unsecure transfers may result in accidental or intentional data breaches and legal problems for the company.
Finally, it should have an excellent customer support line. Look for a company with 24/7 chat service or dedicated service representatives. Business leaders need to know they can get help without being stuck on hold for hours.
As a business owner, you want your technology to work seamlessly together. This improves data visibility and accessibility, helping to reduce inefficiency in operations, marketing, and customer service.
For example, suppose your accounting team uses one application for mailing invoices while your communications team uses a different app to send emails. In that case, an integration can link the two applications to share a single customer information database. This eliminates duplicating effort or introducing human error by manually transferring information between systems.
Off-the-shelf integrations are available for many commonly used software apps. But if you have a unique set of needs, a custom integration can be built from the ground up to meet your specific needs. This requires upfront planning and investment but offers greater flexibility and comprehensive efficiencies.
Payroll is an essential area of business and can also be a target for hackers. Fortunately, several ways exist to reduce the risk of security breaches and protect your employees’ sensitive data.
One of the most important things you can do is implement good data security practices. This includes encrypting all financial data and implementing secure backup procedures. Training your team to spot and avoid potential cybersecurity threats is also a good idea.
Another thing to consider is whether or not the payroll service offers secure integrations. It can be used with other systems like accounting programs and time-tracking systems. This helps to eliminate manual errors and ensures that all of your company’s information is always up to date.
Managing payroll is complex and time-consuming for even the most experienced business owners. But it’s also vital for your employees and for staying compliant with tax regulations.
Many online payroll services offer more than just paycheck processing and tax filings. Some include HR tools like onboarding and documentation wizards, e-signatures, and employee resource libraries.
Some also provide a payroll card that employees can use to cash their paychecks or make purchases. Look for a provider that offers customer service via phone, email, or chat and assigns you a dedicated rep if you have questions or concerns. They should be available during weekday business hours; some provide after-hours support or emergency weekend coverage. You’ll also want to check whether they have any history of outages or downtime.