If you have between 21 and 100 employees, your business online payroll needs may be increasingly complex. This Market Segment is a segment that, depending on an individual company’s situation, may start to need some of the bells and whistles of the 100 to 1,000 market segment. Most payroll providers, both national and local, can accommodate this segment.
When choosing among payroll providers in this market segment, you are at a point in employee volume where you really need to pay attention to the software capabilities of your potential payroll provider.
Gathering the data:
If more than 20 of your employees are hourly, then automating Time & Attendance is suggested.
Right now, you may be collecting paper timecards that have each hourly employee's hours for the pay period and manually entering the hours into a spreadsheet or directly into your payroll software.
When you collect data using this method, you are wasting money in two ways: 1) employee time-theft, and 2) keying error.
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Simply answer a few questions about your payroll needs to get the best solution for your company:
Several studies can give you an idea of the potential cost savings of automating your time collection. See our Time and Attendance section for information on several studies which document specific cost savings associated with using automated time and attendance, and which you can apply to your own situation.
If you do the math using your company’s specific numbers, you will come up with a hard dollar figure to compare against the cost of a Time & Attendance system.
Sending the data to the business online payroll provider:
You can export hourly data from a Time & Attendance system or enter the hourly data into Software or SaaS (Software as a Service, which basically means a web native application).
The application should have some type of Pay Entry Grid built into the software (as opposed to an EXCEL spreadsheet that can be imported).
Receiving the data back from the processor:
Look for software or SaaS which has the following:
Paper: You may have the option of printing your own checks, or receiving paper checks delivered by courier. Keep in mind that courier delivery will require an additional fee.
Paperless: After processing, you can go online to access and download your reports. For pay stubs, different business online payroll providers employ one of two methods:
Employee Debit Cards are enabling companies to have ALL employees go paperless. This is an attractive solution to companies who may have just a few employees who, for one reason or another, do not have a bank account in which to deposit their wages.
In the past, if only one employee could not receive pay via direct deposit, a paper check may need to be delivered via courier, which meant an additional expense.
See our Payroll Debit Cards section for more information about how these could benefit your company.
Get a Free, No Obligation Quote from PayPros, Inc. now. Or call (888) 693-4611 for a complementary payroll analysis.