Reasons To Switch Your Payroll Company
Your company’s payroll is not something you should take lightly. There are rules and regulations that you and your payroll solution must follow to avoid getting into trouble. The new year is a perfect time to change up your payroll solution if you’re unhappy. Contact Skynar Bookkeeping for our advice on the best payroll solutions out there, and we’ll set you up free if you start a new payroll subscription in January, a fee that would otherwise cost $500.
If you have had one or more of the following issues arise more than once this year, it may be time to switch up your current payroll company to avoid any issues in the future:
Processing misinformation. This usually happens in the case of paying an employee either too much or too little. Neither are good for the company.
Classifying employees wrong. Employees need to be classified as full time, part time, or an independent contractor. If an employee is misclassified, they could miss out on benefits like overtime, vacation pay, and more.
Paying employees late. People need their money on time. Period. If your payroll company makes this mistake, it leads to many frustrated and stressed employees, as well as a lack of morale.
Not up-to-date on regulatory changes. There are certain requirements payroll solutions must follow regarding taxes, the payroll schedule, and record keeping. If these are not followed, you may face serious penalties, like noncompliance.
Not tracking overtime. There are strict laws on paying and tracking overtime. Your payroll solution should accurately track and record overtime so the employee is properly compensated for working extra.
Issues with multi-state employees. If you have employees in other states, your payroll solution needs to follow that state’s specific rules and regulations for payroll. It is not the same state by state, so it’s vital to look into this to anticipate what to expect.
Forgetting bank holidays. It’s vital for payroll solutions to recognize bank holidays and to act accordingly if they conflict with a payday. Otherwise, payments will be delayed, which is not okay.
It’s important to keep in mind these mistakes should not be common occurrences, and should be avoided at all costs. If you are frustrated with your current payroll solution, there are trusted, reputable, and efficient options available to you. Feel free to reach out!