What distinguishes a business payroll service from others?
A business payroll solution might include everything from fundamental administrative activities like wage and tax computations to value-added services that improve the user experience. The following are some of the most common bells and whistles accessible today:
- Payroll processing for businesses of all sizes
Corporate payroll is scalable, so it may handle businesses with as few as a few people as well as those with thousands. A small business, for example, might buy payroll as a stand-alone service and add capabilities as needed, but a large company might invest in a whole human capital management suite that includes payroll.
- Processing of payroll taxes
Businesses that use full-service corporate payroll providers can keep up with changing requirements and ensure that tax withholdings and payments are accurate. They’ll normally take the lead in timely filing of required papers with federal agencies.
Paycards, also known as prepaid debit cards, are becoming increasingly popular among younger employees and those without regular bank accounts. As a result, many corporate payroll providers now accept alternative payment methods, which allow firms to save money on check production and distribution while also meeting employee demand.
- Deposits made directly into your bank account
Direct deposit is still the most popular mode of payment, and like paycards, it can help a company save money on payroll. Direct deposit is commonly available to employers who use a corporate payroll provider and can provide their employees’ bank account and routing details.