Payroll processing can make you tear your hair out. It's one of the things that keep you awake at night. Outsourcing it can give you peace of mind. Here are 7 things to consider when you're outsourcing your payroll: 1. Rates - You want to know what it's going to cost for someone else to do the payroll for you and what it's costing you now. You want to have a good idea of what it can cost you if you make errors when you're doing it yourself and what it will cost you if the outsourced service makes an error (it should cost you nothing). 2. Experience - You want someone with startup experience and the challenges that are an everyday part of your business. What factors affect your payroll each time - Overtime? Changes in union contracts? Vacation? 1099s? Payroll is a stressful effort requiring knowledge and experience. 3. Questions - You want to work with someone who knows enough about your business to ask the right kinds of questions. The firm you decide to work with should have other clients in our industry. Your Account Manager should be clear about your needs and they should be available. You want someone local. 4. Answers - You definitely want someone who can explain things in terms you can understand. Generally Accepted Accounting Principles might not be in plain language. Ask them about Sarbanes Oxley and compliance. Can you figure out what they're saying in their explanation or does it sound like they're running for office? 5. Stability - You want a payroll service with a triple A credit rating. People will set up shop and be gone with your tax money in the blink of an eye. You want to feel confident that they will be around and that they can cover the costs of any errors they might make. You can't afford to take chances. Check their credit rating! 6. Resources - Your Account Manager should get around. They should be out there networking and making connections. When you're ready to look for another service to pick up some of the work and give you more time for your business, you should be able to look to your Account Manager for connections. 7. Taxes - Some payroll services don't take care of the tax services. If you're going to outsource a headache, don't keep part of it for yourself. Outsource the whole thing. Be sure you ask how they handle taxes. You want someone who keeps up to date on all of the IRS rulings. While you're at it, ask if they handle benefits. Conclusion: Your relationship with a payroll service should include clear, concise communication that will keep you aware and in compliance with all of the rules. The right payroll service can reduce liability and expenses. Strategic Advisor for small to mid-sized businesses. Founder of ReBoot Camp, helping Wildfire Survivors and Transitioning Veterans thrive. Joy@ReBootCamp.US Article Source: https://EzineArticles.com/expert/Joy_Montgomery/205422 Article Source: http://EzineArticles.com/5891401