The 4 Best Tools for Company Payroll Services for Your Business
Do you invest in the latest and greatest company payroll services?
Company payroll services encompass many functions, and several tools are capable of handling each one. As a business owner with many hats to wear, it can be next-to-impossible to keep up to date on your options. This is why itâ€™s so helpful to work with a business specializing in payroll management. You not only learn about the best tools on the market, you often get access to them at lower cost.
Here are just a few of the tools youâ€™ll have at your disposable when working with a quality service provider:
Payroll Tax Payment Assistant
If you donâ€™t file all of your payroll taxes, youâ€™ll face a number of fines, including:
- Failure to file
- Failure to deposit
- Trust fund recovery penalty
- Late deposits
Payroll payment tools should be current on filing amounts and deadlines. The very best in the business offers guarantees to cover any penalties resulting from mistakes in payments. Todayâ€™s latest options are also available online or by mobile device, features affecting both convenience and cost.
From first glance, payroll seems fairly cut and dried. Many business owners donâ€™t see the need for specialized services until they realize how unique their setup is in contrast to other businesses. Your workers may have garnishments, like child support, taken straight from their wages. They may let vacation hours lapse to take advantage of extra earnings. Those filling multiple roles at work may need to have their payroll reporting split into multiple entries.
Having a tool available that is capable of managing these different aspects of payroll accounting can go a long way to save your time and your sanity.
Employee Self Services
One of the easiest ways to improve employee happiness is giving people more control over their jobs. Employee self-services help do that by giving workers the ability to handle certain tasks on their own from the comfort of their cell phones or workstations.
The Cedar Group found that ESS resulted in a savings of 10-20 percent per employee, depending on the role of the system. Companies who establish self-services only as a way for employees to change their contact information or request benefit changes often saw little benefit. Those that integrated ESS into payroll and created a purpose for the system every day saw the biggest payoffs.
Comprehensive Payroll Services
From printing checks with your business logo to filing taxes by the appropriate dates, there are full-service payroll management providers who can completely take these tasks over. These services have the potential to save you significant money in terms of labor, training and hardware
While many mom-and-pop operations offer these types of services, they may not offer the same level or quality or protection found with a more professional organization. IRS fines can be steep, so itâ€™s essential that youâ€™re not just hiring out higher priced bookkeeping but employing people with the best hardware, software and education to fulfil all of your payroll obligations.
Secure your company payroll services today. Work with our qualified professionals to create the best solutions for your business. Call 770-962-1700 and talk with Einstein HR today.