Hidden Costs of Payroll: 3 Fees to Watch Out For When Outsourcing Payroll
Outsourcing your payroll to a payroll provider greatly reduces the strain you have to deal with as a small business owner.
It’s a to-do list item that most small business owners wish they didn’t have to deal with, so they choose to let somebody else manage the heavy lifting. While we support this decision, are you aware of some of the hidden costs that some payroll providers charge? In this article, we are pointing out some of the most common fees charged, and explain where we can help you save.
Paying To Get Started
As you go to set up payroll for the first time, you will likely feel excited and relieved about tackling this process. However, are you aware that some payroll providers charge you a fee just to get started? While this is just a one-time fee, it’s still an extra payroll cost that you likely weren’t expecting. While some companies may waive this fee for you, it’s not a guarantee. Keep your eyes peeled for this fee, or go with a payroll company, such as SurePayroll, who does not charge this pesky set-up fee.
Nobody Likes a Broken Contract
Signing contracts are can be stressful because you aren’t always sure if you’re going to want to totally commit and unexpected life events can come up later on that prevents you from following through on the contract. If you do sign a contract, and then later break it, you will likely incur some type of fee, which is never ideal. If you have to sign a contract, ask about fees if for breaking a contract, or see if the fee can be waived depending on why you’re breaking the contract. However, the best option would be to have no contract ever. When you sign up with SurePayroll, you don’t have to sign a contract. If you decided to stop using our services for any reason, you can cancel your services with no penalties.
Flexible Payroll Options
Sometimes life gets in the way of being a small business owner and you may slip up on an important deadline, like processing payroll. This isn’t something you ever want to forget but did you know SurePayroll offers flexible payroll options? For the times you forget to process payroll, need to run a last-minute payroll due to circumstances such as a final paycheck, or cancel payroll when you make a mistake, we've got you covered. While these options do have a fee associated with them, having the option is better than totally missing processing payroll with other providers and having even more expenses. Additionally, it helps you avoid your employees losing their trust in you. This is a rare perk that most other payroll providers do not offer.
Nobody likes hidden fees, so it’s best to do as much research as you can upfront before choosing a payroll provider. Besides fees, it’s nice to know some of the other features that you can access from a payroll provider, such as mobile apps. With everybody turning to social media and online platforms to review companies before trying them, make sure you are checking reputable sites such as G2 Crowd when choosing an online payroll service.
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This website contains articles posted for informational and educational value. SurePayroll is not responsible for information contained within any of these materials. Any opinions expressed within materials are not necessarily the opinion of, or supported by, SurePayroll. The information in these materials should not be considered legal or accounting advice, and it should not substitute for legal, accounting, and other professional advice where the facts and circumstances warrant. If you require legal or accounting advice or need other professional assistance, you should always consult your licensed attorney, accountant or other tax professional to discuss your particular facts, circumstances and business needs.