As a business owner, the last thing you want is another expense. Sometimes it can seem like there is more money going out than coming in, even when that isn’t the case.
Investing in something to help you manage payroll is probably the last thing you want to do, but doing nothing makes no sense either. How do you know when it is time to take the plunge and invest in a payroll solution for your small business?
Here are 5 reasons why we think you should make the jump.
1. Business is booming
This might sound obvious but it’s the truth. With more students comes more classes and the need for more teachers. If you have more teachers on your staff, you are responsible for paying more people in a timely manner.
You can’t expect your employees to show up to each of their classes if you can’t have their paychecks ready on time. And how can you make sure that you are on time with payroll along with everything else you have going on?
A payroll solution can take this pressure off of you so you can focus on your never-ending list of things to do, like growing your business even more!
2. Payroll taxes and IRS regulations aren’t your strong suit
As the owner of a dance studio, gym, swim school, or other type of youth activity center, payroll taxes can be a headache. You would much rather teach your students how to do a pirouette, the butterfly, a backhandspring…anything besides crunching numbers for taxes.
With changes to IRS regulations, keeping up with it can be a nightmare. The last thing you want to do is pay out more money in fines or spend time researching payroll taxes when that just isn’t your area of expertise.
Hand that over to a payroll solution who works with this stuff day in and day out. This is their area of expertise and they know what to look for.
3. Who doesn’t want direct deposit?
It’s 2019, direct deposited is kind of expected. Employees appreciate waking up in the morning on payday to the money in the bank.
When you are doing payroll manually, you are handwriting checks and spending money on supplies (checks, envelopes, etc.) that add up overtime – especially when your program is growing and you have more employees to pay each pay period.
When you use a payroll solution, you can offer this perk without any extra sweat from you.
4. Time is money
Payroll is a business necessity, but it’s probably not how you want to spend your time.
How can you grow your business if you are focusing on payroll each pay period? Time is precious and being able to take this off your plate is like instant money in your pocket.
Payroll solutions are a great way to get hours back in your day so you can focus on business growth, engaging with employees and clients and still have time for any other day-to-day tasks you have implemented at your facility.
5. Technology is a way of life
Whether we want to admit it or not, we are connected to our phones. This is especially for you, the small business owner, since you need to email, text, and make calls when you are on the go.
If you invest in a payroll solution, you will have support and assistance at your fingertips. Have a question? Email your payroll provider no matter where you are. Your employees can also access pay stubs and tax forms online at their convenience – it is a win-win!
If technology is your thing, take it a step further. Ditch the paper time sheets and use an electronic time clock to record when your staff members are on the clock. Being able to export time entries from the time clock to submit to your payroll provider makes for a smooth process. Especially if the payroll provider can directly integrate with your time clock.
While it can feel scary to give something as important to payroll to someone outside of your business, it can really be a life saver. Get back in the studio, pool, gym, or classroom and forget about the stress of payroll. You won’t regret it!
Interested in learning more about payroll solutions? Check out our on-demand webinar with guest speaker, Sean Dever, to hear about how Express Payroll can help you!