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Is dealing with payroll week after week taking up too much of your time? As your business grows, so do your payroll needs.
You may have considered hiring a payroll service to simplify the process but wondered how much do payroll services cost.
Hiring an outsourced team to handle payroll can save you money in the long run. Outsourcing administrative tasks is a popular choice for today’s small business owners.
Here’s a look at the costs of hiring a payroll service.
How Much Do Payroll Services Cost?
Payroll costs vary depending on the number of employees you’re paying and how many states you operate in.
Most payroll services will work with you to find a solution that fits your budget and your payroll needs. You can expect the costs to run between $15 to $200 per month for a reputable payroll service.
How Is Payroll Service Pricing Structured?
All payroll services are not alike. Typically, companies structure fees to meet the needs of their customers.
Payroll services normally charge a base fee. This may be on a monthly basis or a per-payroll fee.
If your business pays employees every month, you pay the base fee once a month. If you pay employees weekly, the base fee can run between $29 to $150.
Along with base fees, some payroll companies charge a per-employee fee every month or payroll cycle. Typical fees run from $2 to $12, depending on the services you use.
Some payroll companies have monthly subscription plans. They charge a set amount regardless of how many employees you have on staff. With this option, you may notice more limitations on features.
This can be a good option for a small business that doesn’t require many features. For many small business owners, a monthly subscription is a simple and easy way to cover their basic payroll services.
Some companies offer custom payroll functions depending on what you need. Pricing depends on the number of employees you pay and the features you need.
Your business locations and your payout methods also factor into the quote. Talk to a payroll specialist to help determine which payroll services are right for your business needs.
Watch for Hidden Fees
Every business is unique, so payroll needs vary significantly. It’s important to know which services you need and what you’re paying for.
Look for a payroll service with a positive track record and good reviews to avoid being overcharged. You don’t want to pay for services you don’t need.
Some payroll companies try to add tax filing service fees, implementation fees, and customer support fees. If you haven’t requested these services, you shouldn’t be paying for them.
Any payroll service expert offering payroll tips would warn you to watch for hidden fees. Talk to a payroll expert to discuss the services they offer and the fees you can expect.
Make Payroll Easier With Payroll Services
Are you looking for some payroll relief? You may have wondered how much do payroll services cost. Payroll companies aren’t all the same, and the fees they charge vary as well.
A quality payroll service will consider your payroll needs and budget before offering a quote. Whether you have a small business with a few employees or thousands of employees around the globe, you can benefit from payroll services.
At Sterling Tax and Accounting, we know how time-consuming payroll can be. Our team of experts can handle your back office operations while you focus on running your business.
Contact us today to schedule a free initial consultation.
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