How To Choose A Payroll Company
Whether you’re a new small business looking to set up a payroll system or a large company who’s looking to improve their current payroll situation, there are many questions to ask when choosing a payroll company.
A reliable company will be upfront with what they can offer you, and should want to help you streamline the needs of your business.
However, to help you confirm you’re making the right decision, there are some questions you should ask while going through the decision making process.
5 Questions To Ask When Choosing A Payroll Company
What Payroll Services Do You Provide?
Seems pretty straightforward, right? They’re a payroll company, they should handle payroll, so why bother asking that question? Some companies may want to beat around the bush and not be completely transparent with you, just to make the sale.
It’s important that you have a clear understanding of the services you’re looking for, and the services the payroll company you’re interviewing will be providing. Make sure the needs and goals of your business are aligned with what kinds of services the payroll company can offer.
Typically, a payroll company should be able to help with the following:
- Direct deposit (or printed checks) for hourly, salary, and contracted employees
- File payroll taxes
- Handle various earnings such as; raises, bonuses, reimbursements, etc.
- Deduction benefits
- Track PTO
These are basic things a payroll company should be able to assist with and explain to you in detail. However don’t assume these are included, be sure to ask about their packages and what’s included in each one specifically.
As business owners ourselves, we understand the importance of time and accuracy. Our sales reps want to make sure you understand what’s available to you so they will go over what kinds of services we offer, however they will also work with you to create a package that suits the needs of your business.
What’s Involved In The Setup Process?
Getting familiar with any new software can be a scary process. Ask each payroll company what their set up process is like.
Are you going to be left to learn this software on your own? If not, how quickly will things be implemented?
These are important questions to ask. Your company and team members need to be familiar with the payroll process and how it works. Does the setup of the software include training?
If you’re a business who’s switching payroll companies, the idea of having to learn a new system and have all of the data imported accurately can be a scary thought.
Talk to the payroll representative to ask questions about what kind process this is and what’s entailed. It’s important for the payroll company to be able to explain how information will be imported so you know nothing is being overlooked.
How Are Payroll Taxes Handled?
A good payroll company should also be able to process your end of year payroll taxes including, federal and state income and unemployment tax, and state unemployment insurance. If a payroll company is charging you extra fees or suggest you do it on your own, you may want to consider looking elsewhere.
What Does Their Pricing Structure Look Like?
When shopping for any kind of service, there can be a risk of hidden fees. Make sure you’re aware of all pricing fees ahead of time. Ask questions regarding the costs of adding new employees, filing taxes, yearly charges, and the how often prices change.
It’s easy to get distracted by numbers when looking at a service. Make sure you take the future into account, and make sure the price that you’re paying now won’t suddenly increase over the next several months, years without any notice.
What Kind Of Customer Support Is Provided?
This is a very important question to ask. A major frustration when hiring a company for a service is when something goes wrong, who do you talk to and how long do you have to wait.
Some companies offer a designated customer support representative (like Balance Point), but others have a call in center. It’s best to know in advance what option you’ll be offered and weigh the pros and cons between the two.
There are many reasons as to why a call in center isn’t the best option, and you should consider those options when making a decision.
A company’s customer service says a lot about how they care for their customers. Depending on what kind of customer support you’re getting, ask and see the kinds of hours they have. It’s a good idea to give example scenarios and ask questions like:
- “How long do I have to wait for customer support to resolve an issue?”
- “Do I get the same support person every time I call?”
- “If there’s a payroll error, how long will it take to be corrected?”
These questions can really help determine what company will best suit your needs.
Choosing A Payroll Company
Choosing a payroll company can take some time. It’s best to make sure you get all of the facts and choose the company that can handle all of your needs. As a business you’ll continually be looking to grow, and your payroll company should be able to grow with you and provide all of the needs you have for the kind of employees you keep on staff.
Everybody makes mistakes, but it’s how those mistakes are handled that make a difference in the kind of company you are. Be sure you’re getting the best possible service from your existing payroll company, or consider what other options are available to you.
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