What to Look for When Choosing a Payroll Provider

Posted by Florida Resource Management on October 19, 2022

Prudent business managers know you can’t trust payroll responsibilities to just anybody. It’s one of the most important personnel tasks, which means you have to find a competent payroll provider. We’ll show you the most important characteristics you should use to evaluate a reliable contractor for this role.

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Tips for Choosing the Best Payroll Provider

Focus your search for a good provider that can do all of the following:

  • They can help you convert data from your old system.
    • You probably already know that you’re going to need to upgrade to a better payroll system to accommodate your growing business. You’re not the first entrepreneur to encounter this problem, and the solution involves partnering with a sophisticated firm.
    • This service should involve a compliance payroll assessment, data conversion with year-to-date information migrated to the new system, and full audits for accuracy.
  • Your provider has excellent data integration capabilities.
    • Does your business have a variety of payroll ledgers and point-of-sale (POS) systems for tracking everything? That’s no problem when you work with a professional firm like Florida Resource Management. We handle complex integration projects all the time. We can draw every accounting source together while eliminating duplicate data entries, simplifying paperwork, and providing point-in-time reporting on everything you do.
  • They can help you comply with payroll tax requirements.
    • You don’t need us to tell you how complex the tax code is for businesses. You’ll want the help of a sharp compliance team to update all the tax tables (federal, state, and local) so that you can avoid expensive tax errors. This is something we must do annually since things change all the time with taxes.
  • Select your new provider during the second quarter.
    • The easiest time to transition over to a new payroll system is during the second fiscal quarter if you wish to attempt a mid-year conversion. Otherwise, it’s good to wait until the end of the year. The goal is to do this when it wouldn’t interfere with year-end accounting. Of course, if you need a conversion soon, then we’re happy to assist anytime.

Florida Resource Management - Your Best Choice for Payroll Administration

Florida Resource Management can serve you as a reliable partner for cleaning up all your payroll difficulties. Our staff is on top of all the relevant federal, Florida, and local tax laws that would affect your business. We also make it as easy as possible to report payroll with much greater accuracy. 

So, if managing payroll is still a weak spot in your new business, then consider working with our first-class team at Florida Resource Management. You can count on us for important personnel management solutions, including employee safety, workers’ compensation, and benefits administration.
Call us to learn more about our services at 941-343-6160.

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