Whether you are just starting out as a new business owner or you have successfully been running one for quite some time, there are always new strategies that can help maximize your success rate in the marketplace.
For small businesses, processing payroll can be a complicated and time-consuming task. Among other things, payroll functions can include anything from determining employee wages and withholding taxes, to updating vacation and sick pay and deducting employee-contributed payments for benefits.
Because payroll is so complicated, many businesses use an outside service such as ADP or Paychex. The cost of using one of these services averages about $3 per check.
In general, outsourcing payroll can cost half of what it would to do it in-house. Hiring an outside service also eliminates the need to hire a full-time payroll manager, and you’ll free up time to work on other aspects of your business.