Many business owners lack the time, the patience or the know-how to keep accurate financial records. However, falling behind or making mistakes in your books could lead to potentially tragic financial circumstances and IRS penalties down the road. Even small mistakes could snowball into large issues if you do not find and correct them early enough. But what small business owner has time for that?
This is what makes hiring a payroll service in Jamestown, ND so important. An outsourced payroll service will constantly keep your books in tip-top shape. But how do you go about making your choice? Here are a few tips:
- Know where to look: It can be quite overwhelming to type “payroll service” into a Google search and see the thousands of results that pop up. You can narrow down your search by seeking out recommendations from other similar businesses in your area. You might be surprised at how willing other small business owners are to recommend payroll services. You should also be sure to browse review sites online so you can get a sense of the quality of service they provide.
- Service offerings: Obviously, any payroll service you select should be able to fulfill all of the services you require. Make a list of all of the services you expect you will need this year, and eliminate any payroll agencies that do not provide those services. You should also look for add-on services that add a lot of convenience, such as W-2 forms, online pay stubs, direct deposit, online time tracking and more.
- Pricing: Pricing should never be the sole factor in your decision making process, but it should certainly weigh into your final choice. You do not necessarily want to go with the company that charges the least, unless you are sure that company is able to provide all the services you need with the quality you must have. If there are any red flags at all about companies you are looking at solely because of their price, you can cross them off your list immediately. You should also search for companies that have flexible pricing based on the size of your business, the amount of work they’ll be doing and other factors that are personalized to your company.
- Know what questions to ask: You should be prepared to ask payroll services a number of questions. The timeliness and quality of their responses will provide you with a lot of insight into whether it’s the agency for you. Examples of questions include: “How fast are your turnaround times?” “How long does it take to fix a mistake?” “Will fees change at all after a year of service?” “What type of back-office technology do you use?” These are merely a few examples—feel free to ask as many as you want to get comfortable with the service.
Hiring a payroll service in Jamestown, ND can provide you with a great deal of relief. For more information, contact Craig S. Hanson, CPA today.