Cash in Your Pocket: What is a Payroll Card?
What is a Payroll Card?
A payroll card looks remarkably similar to a debit or credit card. It...
4 mins
Several factors will affect the cost of your payroll services. They include:
According to Business.com, payroll service costs can vary widely, but on average, businesses can expect to pay $2 to $12 per employee per pay period plus a base fee that may range from $29 to $150 per month. For example, if you chose the cheapest option of $29 per month, have 35 employees with $2 charged per employee, and pay employees twice a month, you could expect to pay $169 a month for payroll processing services. It’s important to understand that this is just an estimate and example. Your payroll processing fees may be higher or lower, depending on the services you choose and the number of employees you employ at your small business.
Payroll processors may offer a variety of pricing models, including:
As a small business owner, it’s important to remain aware of any hidden fees when outsourcing payroll.
To ensure that your payroll costs are affordable, don’t be afraid to negotiate with the payroll company. You may be able to bundle payroll services or get the total cost of the service reduced. It’s also important to take steps to streamline your payroll processes. You can do this by reducing the number of payroll transactions and minimizing your need for customizations. Your payroll processor may also be able to provide you with tips to streamline your payroll.
If you’re on the fence about outsourcing your payroll due to the costs, you may be surprised to find out that the benefits outweigh any additional costs. After all, outsourcing your payroll with a payroll processor like Exact Payroll, can reduce your workload so that you can focus on maximizing the productivity of your business and increasing revenue. You’ll also have peace of mind knowing that your payroll is accurate and complies with all applicable labor and tax laws. Your employees may also have improved morale, knowing that they can manage their benefits through a self-service portal and always get paid on time.
Consider partnering with Exact Payroll for all your payroll processing and employee benefits needs. Choosing us means that your payroll is in good hands. To learn more about our payroll processing services, call us at 866-987-9898.
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Exact Payroll Inc
3993 Huntingdon Pike Suite 110
Huntingdon Valley, PA 19006
Mon - Fri: 8:30AM - 5:00PM
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