Advertisements


SMEs Guide To Online Payroll Providers [Infographic]

Author: Colin Cuthbert
Website: http://www.ayers.com.au/
Cutie Shirts: It Looks Good On You!
MyPost: create beautiful simple web pages in minutes with just a few clicks!
The Daily Dot Store: the leading destination for stylish accessories, gadgets, everyday carry essentials & more!
PROMOTE: Place a Text Link on this Confession ONLY

The views, opinions, and positions expressed by the author and those providing comments on this website are theirs alone, and do not necessarily reflect the views, opinions, or positions of Confessions of the Professions thereof. By reading the following article, you do not hold responsible Confessions of the Professions or any contributing authors for the content of this confession. Viewer Discretion is Advised.

Online Payroll Services

Payroll Services

According to an IBISWorld market intelligence report, the payroll industry is worth $61 billion in the US alone and had an annual growth rate of 3% between 2009 and 2014. Payroll management can be a complex process. It takes time and resources to ensure it is done correctly and paying employees is a crucial part of all businesses.

The industry as a whole has a significant number of small companies that provide payroll and other services to SMEs and larger sole proprietors and partnerships. What is interesting is that according to IBISWorld 2014 statistics, 4 large companies actually account for almost 20% of the total industry revenue.

While many companies outsource their payroll, in the wake of the economic downturn in recent years, some companies have taken their payroll in house and starting using online payroll services. This infographic compares and contrasts 2 of the largest online payroll providers available on the market today – Intuit and ADP.

Payroll is a lot more complex than simply paying wages. Payroll deductions, changing healthcare laws and annual leave accruals are just some of the areas that are included in the vast area of payroll. Both Intuit and ADP have many features in common; but specifically in terms of tax services, a crucial area of payroll, it is worth noting that ADP charges extras for certain tax form processing and mailing for US based companies, whereas Intuit does not.

When comparing and contrasting payment options, it is worth noting that Intuit does not offer cheque signing and stuffing as a service. Any company who requires this as a priority may be best suited to using ADP. A crucial aspect of choosing a payroll provider, whether outsourced to a firm or using an online service, is the level of customer support that is on offer, especially should anything go wrong. ADP provides 24/7 live support, a very attractive offering and while Intuit provides a very comprehensive 12 hours per weekday offering, there is none at weekends.


SMEs Guide To Online Payroll Providers [Infographic]

Click to open / Right-click for save options

PDF Version


Text-Friendly Version

The SMEs Guide To Online Payroll Services

  • Paying employees is a crucial part of any business.
  • Payroll management is a complex process that takes up time and resources.
  • It is not just about keeping track of employee payments.
  • It is also about managing issues such as payroll deductions, changing health care laws and PTO accruals, in addition to filling and paying taxes correctly.

Always look into and compare and contrast the following options that an online payroll service provider should offer.

  • Payroll Features
  • Payment Options
  • Help and Support
  • Tax Services

Intuit and ADP are the most popular online payroll providers on the market. But which should you choose any why?

Intuit vs ADP

Payroll Features in Common*

  • Includes payroll reports and an option to export into a PDF or excel file format
  • Sets up payroll deductions and employer contributions
  • Tracks employee accruals e.g. PTO
  • Options to set up wage garnishments if required
  • Includes an employee self-service portal that allows access to their individual payroll and tax information
  • Includes a custom payroll reminder facility to approve payroll or perform administrative tasks

*Note: Both are feature rich and provide the same types of payroll features

Tax Services In Common

  • A tax accuracy guarantee
  • Files and pays your payroll taxes
  • Handles new employee reporting

Tax Differences

Intuit

  • Includes W-2 & 1099 form processing, printing, and mailing at the end of the year for US based companies

ADP

  • This service is charged as an extra

Payment Options In Common

  • Unlimited monthly payments, but you might be charged per employee, per payroll
  • Options to pay hourly, salaried, and contracted employees
  • Options to pay employees by direct deposit, by pay cards, and to print checks on site

Payment Options Differences

Intuit

  • Check signing and stuffing service is not offered

ADP

  • Check signing and stuffing service allows for printing of signed checks and placing them in envelopes for mailing

Help and Support in Common

  • Customer support via 4 options; phone, email, live chat, and forums
  • Have online resources such as videos and FAQs on the company website
  • US based companies have access to links and online tools for the Affordable Care Act
  • Neither service has a dedicated account specialist compared to other online payroll companies who do which include 101Pay, APS, and BenefitMall

Help and Support Differences

Intuit

  • 12 hours per weekday but no support on weekends

ADP

  • Offers 24/7 live support

Contracts and Fees

  • There are no contracts with Intuit or ADP

Contracts and Fees Differences

Intuit

  • Average cost of $89* dollars per month
  • Additional state tax applies at $12 per payroll

ADP

  • Average cost of $84.50* dollars per month
  • Additional state tax applies at $7 per payroll

*Note: based on 5 employees paid bi-weekly

Software Integration

  • Both Intuit and ADP are compatible with accounting software QuickBooks and QuickBooks Online

*Note: The above are based on the Intuit Full Service Payroll package and the ADP Enhanced Payroll package.

Best of the Rest

  • ProPayroll
  • 101Pay
  • APS
  • BenefitMall
  • SurePayroll
  • Onpay
  • Paychex
  • MyPayrollHR

www.ayers.com.au


Source: http://www.ayers.com.au/solutions/corporation/outsourced-payroll



If you enjoyed this confession, make sure you subscribe to the Confessions RSS feed!
You can also follow Confessions on Twitter.
You can also subscribe to the Weekly Confessions Digest.

(


Advertisements
Tags: businesscompaniesconfessionhealthcareinfographicintelligencelawsoutsourcepaymentpayrollprocessreportresourcesservicestax

2 Comments

  1. @circlecast says:

    SMEs Guide To Online Payroll Providers [Infographic] http://t.co/ff2im6xAkg via @OneTruConscious

  2. SMEs Guide To Online Payroll Providers [Infographic] http://t.co/2VI9O4a4yq via @OneTruConscious

Leave A Reply


Permalink: http://www.confessionsoftheprofessions.com/smes-guide-online-payroll-providers-infographic/
Shortlink: http://goo.gl/wEJXfR
HTML: http://www.confessionsoftheprofessions.com/htmlcache/smes-guide-online-payroll-providers-infographic.html
AMP: http://www.confessionsoftheprofessions.com/smes-guide-online-payroll-providers-infographic/amp
  • The industry as a whole has a significant number of small companies that provide payroll and other services to SMEs and larger sole proprietors and partnerships.
  • While many companies outsource their payroll, in the wake of the economic downturn in recent years, some companies have taken their payroll in house and starting using online payroll services.
  • Payroll deductions, changing healthcare laws and annual leave accruals are just some of the areas that are included in the vast area of payroll.
  • A crucial aspect of choosing a payroll provider, whether outsourced to a firm or using an online service, is the level of customer support that is on offer, especially should anything go wrong.