Once you’ve made the decision to partner with a payroll provider, you will want to know how much you’re going to pay for their services.
Every business has its own set of circumstances and needs that impact the price. Here are just a few of the questions that will help determine what you will pay:
- How many employees work for your business?
- Are employees paid weekly, bi-weekly or monthly?
- Do you have workers with residences in more than one state?
- Do you need your payroll to integrate with other technology your business utilizes, such as accounting software, Point of Sale system, etc.?
- Do you need more than just payroll? What about Time and Attendance, HR, or Benefits Administration?
Most small to medium-sized businesses should keep in mind that the majority of today’s payroll providers bill a monthly or per payroll rate based on the services they offer during that time period.
The services contract and a payroll firm’s experience will often dictate much of what you will spend. It’s best to determine your company payroll needs upfront to stay on budget. Be sure to ask the provider about any extra services that might crop up over time and the pricing involved before signing a contract. This way, there are no surprises.
If you have specific questions about the benefits and costs of contracting with a payroll group, contact an IPS representative.