Paychecks can be issued on any schedule you choose. You will usually pay between $2 and $3 for each check plus a base account fee. The more frequently you print checks, the more you will pay. However, payroll services often provide volume discounts.
Calculating payroll is more complex for hourly employees than for salaried workers. If you have a large number of hourly employees, particularly if they work overtime, a payroll service can really help save time and money.
If you have more than 10 employees, you’ll save time, resources, and money by hiring a payroll service. If you have fewer than 10 employees, it may not be worth the expense.
If you are currently work with a payroll processor and you want to switch providers, try to do so at the end of the quarter or beginning of the calendar year. Since payroll services pay your taxes on a quarterly basis, you don’t want to risk a late or incomplete filing.
The time it takes to get set up with a payroll service can vary. Small companies can get started within a few days. Larger companies could take as long as one to two payroll cycles.
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Consider which attributes are the most essential to you: speed of installation, add-on features, customer service, detailed tracking, accuracy.