To your employees, your successful running of payroll is of the utmost importance. No one wants to work hard all week, only to find out that they aren’t getting paid. If you are in charge of running payroll, odds are good that it eats up a lot of your time. Payroll can quickly become a lengthy and frustrating process, particularly as your small business grows.
Here at Journey Business Solutions in Fort Worth, payroll services are one of the many resources that we offer to our clients. If you are looking to streamline your payroll process, check out the following tips and reach out to our team to learn more about the payroll services we provide.
Make Sure You Scale With The Growth Of Your Business
As your business grows, your payroll needs will change drastically. It is extremely simple to manage payroll when it is you and a few other team members. However, as your business expands and new employees are hired on, keeping track of everyone’s hours, salaries, time off, and other aspects related to payroll will become more and more difficult. The key is to recognize that as you are growing, your payroll tactics need to keep up with your needs. If not, you can be left trying to adapt a poorly structured system to your current needs. This can lead to inefficiency and major mistakes.
Take some time to assess your current payroll system. Do you handle it alone? Are you cable of keeping up? How often are mistakes made when running payroll? Make sure that you recognize when you are outpacing your current payroll system.
Keep Track Of What Time You Spend On Payroll
Another key to understanding when you are no longer efficient is by keeping clear track of how much time you spend each month working payroll. If you are not the person handling payroll, have the staff member who is in charge carefully track the time they spend on the process.
By carefully tracking the amount of time you pour into payroll, you can start to see a trend. Are you spending more and more time each month? Are you neglecting other important tasks because of payroll? If so, you might need to consider an alternate method for running payroll.
Stick To Simple Policies
One way to ensure that payroll remains efficient is to stick to simple policies. For example, what are your Paid Time Off (PTO) policies? Are they complicated and difficult for you to manage? Adopt a simpler policy. This might mean giving everyone in the company the same structure. The easier you make it for you to track people’s hours or salaries, the less time you will spend on determining who needs to be paid what.
Another policy to keep simple is how you reimburse your staff for things. Complex policies make your job far more difficult. Keep things clear, simple, and utilize the same policies across the board.
Utilize Direct Deposit
Are you still printing off checks and mailing them to your staff or handing them out each week? If so, it is time to look into direct deposit. Not only will you find that utilizing direct deposit saves you copious amounts of time, but your staff will also appreciate it. They no longer need to spend time depositing their paycheck and can quickly access their money the moment it hits their account.
Know When To Utilize A Service
Finally, at some point in time, it may no longer be practical for you to run payroll on your own. You might not feel that your company is large enough to hire a full-time HR department that handles payroll but you might also be beyond the point of being able to handle the process on your own. When this is the case, the solution might be to outsource payroll. By utilizing an outsourced company for your payroll, you can save yourself a large amount of time and you can prevent costly payroll mistakes. Not only will you find this less stressful, but your employees will also have a higher rate of satisfaction with you. It is hard to retain quality employees when you make repeated mistakes in their pay.
How Our Payroll Services Work
We offer excellent payroll options for businesses large and small. Whether you have 20 employees and you can no longer keep up or you have a large business with 100s of employees to keep track of, we offer a solution for your needs.
A few of the key features of our payroll services include the following:
- Fast and simple processing of payroll
- Immediate calculation of payroll taxes
- The ability to simply file payroll taxes
- Around the clock support from experts
- An automated payroll process
- An easy-to-use app for employees
If you are interested in the possibility of outsourcing your payroll to help cut down on the amount of time you spend on this task, contact our team today. We will be happy to talk to you about the payroll solutions we offer for any business size.