One of the most important aspects of running a business in Fairfax is managing payroll. From the minute your first employee starts working, you will need a payroll system. If you can’t handle it by yourself, you’ll need to figure out how to outsource payroll in Fairfax.
Most small businesses often lack the sufficient resources, time, and money to handle payroll in-house. You need to dedicate all your time doing what you do best and keep customers happy.
Moreover, payroll is inherently challenging and tiring. It is not just about ensuring everyone gets the salary they are expecting on time. There are other various government, federal, state, and local taxes that you need to pay as well. Similarly, documents should be filed on time, and you have to tick all the regulatory boxes.
Let’s have a look at all the steps to figure out how to outsource payroll in Fairfax.
How to Outsource Payroll in Fairfax?
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Table of Contents
Step 1: Understand Your Needs
Before choosing a payroll provider for your business, you have to understand what you need them to do. Do you have staff or contractors? How can you determine the difference? Do you want payroll to plug into your accounting software? What taxes do you have to pay? Do you have provisions for bonuses?
You have to answer these questions to figure out your needs before moving onto the next steps.
Step 2: Choose an Experienced Payroll Company
You can ask other business owners or friends if they can recommend an outsourcing payroll company near you.After that, you should interview several different payroll outsourcing companies, just as you would while hiring a new employee.
Once you have chosen a few from your list, ask them to give a free proposal. Keep a close eye at the costs and the breakdowns. Is it inclusive of everything you need to process payroll? Try to think while keeping your future needs and business plans. Will they be able to handle your business growth?
Always check that the company you choose to outsource payroll in Fairfax has sufficient resources. You want your payroll function to run smoothly sans mishaps. To do this, you have to know if they have a backup to cover their own staff issues or absences.
Similarly, do they offer an online employee self-service; if so, what features do they include?
Most importantly, you should ask them for references. Their past track record will be a good indication of their working style, bandwidth and other important factors.
Step 3: Make the Connection
The next step while hiring a company to outsource payroll in Fairfax is to ask questions. You should do this to get a sense as to whether or not a company is a good fit for you. The right questions can help you form a connection with the company and they can also understand your needs better.
Step 4: Hand Over the Process
Once you have chosen your payroll outsourcing service provider in Fairfax, you will need to set up the process for hand-over. Typically, this will include a full list of all the employees along with their details.
You will have to give the payroll company access to your payroll system like Quickbooks if you are already using one. In addition, working with the payroll outsourcer, set up a new process around timesheets, processing of leaves, entitlements, and commission payments. This will also include a process for employees who resign.
Apart from this, advise current employees of new sign-on details for them to access their leave entitlements, payslips, and super payments. Also, create a new induction pack for new employees so that the process is smooth and new employees are paid on time.
Finally, set up a central place for all employee contracts such as listing salaries, benefits, and conditions so that both the payroll company and your business can access them at any time for references.
