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Thing to Consider When Changing & Choosing a Payroll Service Provider

Are you thinking about switching to a new payroll service provider but are hesitant? You could be worried about missing payroll periods or data mistakes during the changeover, but it doesn’t have to be a shambles.

A streamlined conversion procedure that addresses the unique demands of your firm while limiting the amount of effort required to get started is the key to a successful payroll conversion. When you’re ready to make the change, here are six things to think about when changing and choosing a payroll provider.

1. Timing of a Payroll Conversion

It is critical to decide when to install a new payroll solution. If you’re thinking about a mid-year conversion, Quarter 2 is an excellent time to get started. Another alternative is to convert at the year’s conclusion. The best time to start a year-end conversion is in October, so it doesn’t interfere with any year-end processing you need to conduct.

A streamlined implementation approach will ensure a smooth transition regardless of the time of year. Working with an experienced and educated sales consultant who understands your goals and requirements to propose the best solution is a part of this process. Given the complexities of workforce solutions and the plethora of capabilities that may effect your business, a competent payroll provider should have a sales team that is involved at every stage of the process.

2. Data Conversion

When considering a conversion, evaluate whether the payroll system is integrated with core HR and attendance. There are numerous advantages to storing payroll, core HR, and time tracking data in a single database.

Look for a payroll outsourcing company in India that offers a specialist implementation manager with the experience to translate system differences and suggest enhancements that will increase productivity, minimize the possibility of errors, and reduce costs.

Whether your firm has employee garnishments, non-cash fringe benefits, or complicated vacation policies, you want to find a solution that will match your specific needs and scale to meet your company’s structure.

3. Data Integration Capabilities

Many businesses already have benefit investments in place, such as general ledger software, point-of-sale (POS) systems, and retirement plans. Because all of the data is reliable and up to date, the ability to combine these existing systems with an online payroll system is a big benefit.

Consider suppliers with a proven track record of integrations with the most prominent corporate applications and vendors. Providers who own and build their own technology have the freedom to create their own data integrations, resulting in a customised solution.

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Integrate your HR software with a financial application such as Sage Intacct. As a result, your payroll data will instantly sync with your General Ledger.

5. Payroll Tax Compliance Management

Because payroll tax compliance requirements are always changing, it’s critical to work with a payroll provider that has a tax compliance department to help handle these modifications. Following conversion, a tax compliance team should update your payroll tax tables each year and assist with year-end processing.

A reputable payroll service provider should have a tax compliance team made up of experts who will evaluate your existing data for potential payroll tax issues. Each year, the tax compliance staff should update payroll tax tables, handle tax filings and payments, and assist you with year-end processing.

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Every year, your payroll provider’s tax compliance staff should update your federal tax tables on your behalf. Send any correspondence you receive regarding state and local taxes to your payroll provider so they may update your information.

5. Data Conversion

One of the most critical tasks in the conversion process is accurately moving company data from your old system to the new one. To confirm the accuracy of your data, complete the following tasks:

Data Conversion: The new payroll solution receives the year-to-date history.

Payroll Evaluation: To reconcile data history, a payroll compliance assessment is done.

Validate Accuracy: Prior to the first live payroll submission, parallel or side-by-side payrolls are done to validate data and tax settings are proper.

Look for companies who will offer you an implementation point of contact to oversee the data translation process. They should do all of the duties listed above, as well as import payroll and employee data from past years.

6. Customer Support

The degree of customer service provided is another crucial thing to consider throughout a payroll changeover. You should feel secure in the knowledge that a customer support representative is immediately available to facilitate a successful collaboration with the payroll provider. Some questions to ask while determining the amount of help provided by a payroll provider include:

  • What professional payroll certifications do your support staff members have?
  • Will I be assigned a personal account manager and team?
  • Is customer service available by phone, chat, or email?
  • What is the average time it takes to respond to a support request?
  • Are there specialists on hand to assist with more sophisticated inquiries about benefits and compliance?

Consider payroll companies that give dedicated training and account managers. Your trainer should develop a training plan to address any special deployment requirements. After your conversion is complete, your account manager should always be your main point of contact so that they are familiar with how your company uses their payroll system.

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Your dedicated account manager should be available to assist with any day-to-day questions or requests. You should be able to call, email, and chat with your requests, as well as use relevant reference materials.


Questions That You Should Ask Before Choosing a Payroll Service Provider

Here are some questions to think about or ask the company while looking for the best payroll service for your business:

How often do its tax tables get changed to guarantee compliance?

Because tax tables change as new laws are passed, it’s vital to know how often your payroll service updates its tax tables. Ideally, your payroll provider will keep them up to speed whenever a new tax bill goes into force.

Is it also a client in your industry? 

Inquire with your possible payroll provider if the company handles clientele similar to yours. If it does, the company may have an advantage over you because it has dealt with businesses similar to yours. However, a lack of industry-specific experience should not rule out any services you are considering.

Is it compatible with your employee benefit offerings? 

Determine whether the payroll service can incorporate your employees’ benefits, such as PTO, into the software and workflow.

How will it handle your business as it grows? Can your provider accommodate your company’s growth as it expands and hires more employees? 

Share your expectations with your payroll provider and see how they will account for your company’s development.

 


Rundown

There are various aspects to consider while selecting and installing new payroll software to ensure a smooth migration. Choose a payroll service provider who has knowledge and experience in payroll processing and tax compliance, as well as a proven track record of customer retention and superior customer service.

Also read: How to Choose the Best HR Management Company for Your Business?

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