Small business payroll,
made better

How much does small business payroll cost?

The cost of small business payroll depends on several factors, including payroll frequency, total number of employees and the specific services that are needed. Most commonly, there is a per-payroll processing fee and an annual base fee. The important thing to remember is that a payroll service may actually save you money when compared to the cost of tax penalties. ADP will work with you to determine the right payroll setup for your business, whether you have just one employee or several.

Can a small business do their own payroll?

Do-it-yourself payroll is a popular choice for some new businesses, but like any other DIY project, it may only save you money if you have the skills and resources to do it correctly. You could be quickly overwhelmed by the amount of time it takes to run payroll on your own and the costly penalties that can possibly ensue if you make mistakes. For this reason, many small businesses turn to a payroll service provider for assistance.

How do small businesses run payroll?

Whether you choose to tackle the job on your own or work with a professional, running small business payroll, in its most basic form, consists of these steps:

1. Track and record employee hours worked
2. Calculate wages and withholding amounts (taxes, benefits, etc.)
3. Distribute wages to employees
4. Deposit the withheld taxes with appropriate government agencies
5. File employer tax returns at the applicable deadlines
6. Send employees T4/Releve and other required tax forms
7. Issue Record of Employment (ROE)

Throughout each stage of this process, you’ll need to comply with constantly changing regulations – a task that can be difficult without the expertise and assistance of a payroll provider like ADP.

What does payroll software for small business include?

Small business payroll software might have the following features, depending on the payroll provider:

• Capability to manage payroll from any location and device
• Automatic calculation, payment, and filing of taxes on your behalf with proper authorization
• Options for employee self-service and preferred payment methods
• Smart technology designed to identify possible errors
• Built-in compliance with payroll regulations

What are the benefits of using small business payroll software?

One of the main reasons small businesses opt for payroll software is to save time. This software also ensures that employees receive their payments promptly and accurately through their chosen payment method. Consequently, it allows you to dedicate more effort toward enhancing your products or services, expanding your customer base, and pursuing other revenue-generating initiatives.

Does small business payroll software save your business money?

Tax penalties and fines due to payroll mistakes can be costly. Using payroll software can help reduce or prevent these errors, potentially saving you money. Additionally, this software automates the payroll process, which can lower the labour costs involved in managing payroll.