- 1). Make a list of the services you want from your payroll company. The more complex your payroll structure, the more you are likely to pay in service fees. Additional services, such as benefits management and human resources guidance, cost more. Also consider the types and number of reports you want for your records as these also add to the basic costs. Establish a budget you are willing to spend on these services.
- 2). Begin your payroll service comparison by examining the different delivery systems. Your first option is to hire a full-service payroll service company that works with you either on the phone or in person. Or you can find an online company that offers the same services as a full-service company. Buying payroll software that you install on your own servers to enable you to do your own payroll is another option. The last option is to do your own payroll.
- 3). Examine the best means to transmit the payroll information to the payroll service company. Security is a key element here. If you are confident that the payroll service company offers secure online transactions, you can proceed with an online business. If, however, you feel more confident doing business with a company that transmits payroll data via fax or one that works in-house for you, opt for that selection. In any case, always keep a paper copy of all payroll transactions in your files.
- 4). Find a company that has excellent references. Consult business associates who use the services of payroll companies to get their recommendations. Pick a company that's been in business long enough to build a positive reputation. Additionally, the company should have a good rating with the local Better Business Bureau.
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