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Is online payroll the answer for you?

Dealing with payroll can usually be a pain for most small business owners. If you do not have a program to help you with the calculations, it can be hard to figure out what the calculations are. Payroll is vital to your business as it needs to be done on time and it needs to be efficient. Online payroll services provide you with a great opportunity to strengthen your relationships with your employees as they will be paid on time. You no longer need to worry about doing the numbers or filing payroll taxes because the online payroll system will be able to do it all for you.

The big names in the online payroll world include Intuit, ADP, PayCycle, and PayChex. There are others but they tend to stand out due to their overwhelming amount of clients and low transaction costs. The online systems will be able to provide up to date information from the IRS on payroll tax laws and help you stay on top of your payroll so you don't end up making a mistake that could cost you thousands of dollars.

You are in charge of the program once you sign up for it. All you need to do is input the number and then the online payroll companies will take the information you input and place it into the correct form and provide you with filing information as well as deposits with your local, state, and federal tax agencies.

Having your payroll system online is a great option for traveling business owners. You can travel and know that your employees will be just fine. You can log in and set up transfers to their accounts for payroll and you can view the paystubs before they are sent to your employees and they are notified of their deposit.Companies like ADP, Paycheck and PayCycle all offer a stand-alone payroll service but Intuit is directly tied with the accounting program, QuickBooks.

What can you afford to spend on your payroll software solution? This is going to be one of the biggest factors to consider as you are trying to find a solution for your company. You need to look at all of your options and consider cost along with your needs. If you want to save time, bringing a payroll software program into your business is the solution.

Here is a quick snapshot of the payroll companies and their differences:

  • ADP - This is one of the largest organizations out there. They have tax filing along with simple payroll calculations, which can make the entire thing so much easier to deal with. When payday comes around, the system will generate a spreadsheet of the hours the employees have worked along with their sick leave and hourly rate. Take a look at the sheet and make quick adjustments before the deposits are sent to their accounts.

  • Intuit - If you are already running QuickBooks for your company, this is one of the easiest ways to integrate payroll into your system. Intuit works like ADP as you can input the hourly numbers for your employees and the checks will be printed or you can set up automatic deposits into their accounts. It will generate all the tax forms you need and the cost is very low, only $29 a month to use this program.

  • PayChex - A number of small businesses turn to PayChex for their low cost and ease of use. They allow you to create paychecks for your employees that will pull out all of their deductions and other things like sick leave. You want to talk to them about the cost to add and drop employees from the program as they are hired and fired.

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