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Time for Payroll

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Stephenedwardgraphic

New Member
Our business has been steadily growing. Met with our accountant last night and now that we are ready to start bringing on help we have been discussing how to do payroll. For those of you who have employees -- do you do your own payroll, or do you use a payroll service that does all of the calculations. Just curious as to the pros and cons of each.
 
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Tdewitt

New Member
Not worth the headache! Stay at max capacity and rake in the cash, employees, you pay them 100% of the time for working 30% of the time, NO ONE WILL EVER WORK AS HARD FOR YOUR BUSINESS AS YOU DO. But it you do decide to hire use a payroll service to take care of all the things that you will forget about while thinking about all the things you need to do to keep them busy.

Have I mentioned that Employees SUCK!
 
Gino

Gino

Premium Subscriber
Does anyone like you, your wife or someone somewhat connected to you have any CPA knowledge..... accounting ??

If so, while you're small, you can basically do it yourself from quarter to quarter and then have your accountant help you on a quarterly basis and then year-end. We use QuickBooks and it does it all, if you know how to set up the various fields. Once you get into 1/2 dozen or more employees, you might as well let someone else do it. It's a write off, if you don't feel comfortable, unless you still have a desire to do it.
 
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Stephenedwardgraphic

New Member
I kinda have a unique situation going right now. I am still working my full time job (I work for a large commercial printer). The signs and decals we started doing on the side about 4 years ago. My wife runs the business all day. I come home at night and we both continue working until about midnight every night. I've hired on a high school kid to help about 15 hours a week @ 8 bucks an hour. Eventually will have to make the jump and quit my day job...just working for the health insurance right now and building up the business. We have been able to purchase all of our printers and cutters and pay for our work room remodel in cash and no debt --- just gotta get up the nerve to make the next big step.... it's kinda scary... how did all of you do it? I kinda feel like that guy who wanted to go skydiving...the door is open and its time to jump....but i can't make myself do it!
 
Mosh

Mosh

New Member
When I had morons...eeerrr employees I just used quickbooks, I then had my accountant check it over.
 
HulkSmash

HulkSmash

New Member
Tdewitt said:
Not worth the headache! Stay at max capacity and rake in the cash, employees, you pay them 100% of the time for working 30% of the time, NO ONE WILL EVER WORK AS HARD FOR YOUR BUSINESS AS YOU DO. But it you do decide to hire use a payroll service to take care of all the things that you will forget about while thinking about all the things you need to do to keep them busy.

Have I mentioned that Employees SUCK!
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Yeah, don't grow like this guy. unfortunately he has no idea what he's talking about. Yeah some people suck, but you can find some gems out there.

Use a payroll service. We use Chase business. Worth every penny. I just submit hrs every 2 weeks. done.\

quick books also does it for like 400 a year. again - worth every penny.
 
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Stephenedwardgraphic

New Member
Thank you to everyone so far.

We started off using outright.com for our book keeping (has now been bought out by go daddy). it has been a lifesaver. We do a lot of online sales. You can link it to your bank accounts so as transactions come in and out it records it for you. After a bit you can train it so that when you purchase something from a vendor it will categorize it as cogs, office expense, equipment etc. So really once a month I pull a report and everything is done for me. you can also use it to track your mileage and estimated taxes. it has really worked out well for us.
 
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Hicalibersigns

New Member
Yeah, don't grow like this guy. unfortunately he has no idea what he's talking about. Yeah some people suck, but you can find some gems out there.
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If you view your employees as adversaries that's exactly what they will be.
 
BobM

BobM

New Member
IMHO one of the biggest mistakes a small business makes is trying to do everything themselves. Having a payroll company like ADP takes all the payroll and reporting headaches away. The hours it takes to figure and produce the checks, file the necessary reports with the state and federal agencies, withdraw the proper amounts from your account including the withholdings, and pay the agencies in a timely manner are enormous. When the IRS or Dept. of Revenue come calling, and they will, you don't need to get into any long question an answer sessions, just call the payroll company and they will answer the questions and provide all the documentation. One mistake on your part doing it yourself could cost you many times the fee you would pay ADP.
 
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synergy_jim

New Member
we did our own payroll for 4 years. When we switched accountants, we started letting them do it. Best decision ever. I email our ours and they direct deposit.
 
chrisphilipps

chrisphilipps

Merchant Member
We use ADP's website based payroll. I saves a lot of time and headaches. Plus if anything is wrong with it ADP is responsible.
 
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Stephenedwardgraphic

New Member
One more question. How is everyone capturing their employees time? Right now I just have a paper sheet that everyone writes their time on. Would like a better solution. Not sure if I should be a time clock. Would really like something electronic or an app or something that would capture time and then total it for me. I have been doing a little online searching and haven't found anything I really like. What is everyone else using?
 
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paul luszcz

New Member
We use a free app called EZ Punch Standard. It's like a time clock on the server.You just walk in, select your name, punch in and punch out at the end of the day. EVery payroll period, you run a payroll report with everyone's hours and report them to your payroll service.

If you want it on everyone's desktop and smartphone, get the pay version.
 
binki

binki

New Member
Stephenedwardgraphic said:
One more question. How is everyone capturing their employees time? Right now I just have a paper sheet that everyone writes their time on. Would like a better solution. Not sure if I should be a time clock. Would really like something electronic or an app or something that would capture time and then total it for me. I have been doing a little online searching and haven't found anything I really like. What is everyone else using?
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In California we have to keep time records with breaks and everything. Failing to do so is a fine of $100/day per employee, per day.

We use a spreadsheet that is backed up offsite and calculates all the time with breaks. Pay is saved in Quickbooks.
 
GregT

GregT

New Member
We let the accountant take care of the payroll. Every 2 weeks I send in the hours and the next day paychecks show up. For the time and trouble, found it was cheaper to let them do everything. I can make more $ making signs than doing payroll.
 
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