In House or Not
| I have been wrestling with the idea of out-sourcing our payroll or keeping it in house. I will be doing the books everyday with the help of our accountant, whom I should be getting in contact with before leaving for Portland, but with the importance of doing payroll taxes correctly, have not been able to come up with a solution yet. We will have only a handful of employees and services like ADP are really not to expensive. I need to figure out how much time that will take to complete each pay day and go from there. I know that in the small business at which I am currently employed, the payroll is done by our in house accounting department each week. She only gives herself 2 days to complete it and we have about 25 employees. Payroll tax will be a killer if not done correctly which is what is leaning me towards ADP or the like. The will also help keep the wages confidential between employees and be very easy to manage. Just thinking ahead, I have a lot to do before we get to this point. ~~be bold |
...a thought by Cafe Evoke Coffee Catering at 10/11/2005 05:55:00 AM
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Comments on "In House or Not"
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Jared said ... (10/11/2005 08:56:00 AM) :
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Jason Duncan said ... (10/11/2005 10:37:00 AM) :
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David R. said ... (10/11/2005 04:02:00 PM) :
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Jason Duncan said ... (10/11/2005 04:19:00 PM) :
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Anonymous said ... (10/11/2005 08:57:00 PM) :
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Jason Duncan said ... (10/11/2005 08:59:00 PM) :
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Toy Store said ... (10/12/2005 06:54:00 PM) :
post a commentI worked as a staff accountant at a small mortgage bank for a while and used ADP. It was just so much easier than trying to keep track of everyone's taxes myself. With starting a small business, I really don't think you want spend your time in the intricacies of tax accounting. Just my two cents.
Jared,
Thank you for bringing that up. I'm glad someone else thinks it is a good idea to spend the small amount of money each month using ADP. It seems like a great service as it will keep track of taxes, etc.
I have logged your comment and I appreciate your help in making this decision.
~~be bold
I have done both in processing payroll - in-house and ADP. ADP is very easy. It takes the guess work out of taxes and helps to give you a firm deadline for planning your day.
25 Employees are enough to keep you hopping with basic HR and accounting needs. Let a professional take care of the hard stuff.
Good luck.
David
David,
Thank you for this insight. It will also be good to not have to worry about doing this wrong. It can get very expensive if it is done incorrectly. Thank you again for your comment.
~be bold
Hi!
I'm starting my own business in November and am using an online service called PayCycle. It seems to be a great service, inexpensive, and an easier way to manage the payroll.
Hello,
Thank you for this suggestion. I will check it out. Do you have any other information about it? What do you like about it?
I have not heard about PayCycle but will go and check it all out.
Thanks again!
~~be bold
Hey -
I've done some extensive reading on the PayCycle service on cnet.com. You may want to check it out over there. We used an accounting service (first paychex, then our accounting service) and found it to be costly. This seems to be a simple solution. I"m going to go live with it on November 1st, so I'll keep you posted!