As an employer you must periodically verify that your payroll services company is paying your employee related taxes. When evaluating the performance of your payroll or PEO company, you should review their billing statements frequently. Mistakes are common practice and more the norm than the exception. The truth is, even with the larger payroll companies handling your payroll, we have seen many mistakes that have caused a lot of grief for business owners. These mistakes, if not caught early, can take hours and sometimes days to correct and can cost your company thousands of dollars.

We always recommend that when shopping for the best solution, use the services of an expert in the field. When it comes down to it, payroll is not what you have been trained to do. Your time is spent running and growing your company. An expert in this area can be an invaluable asset in helping you accomplish your goals and avoid mistakes.

We also recommend that you have your CPA review prior statements for accuracy. Usually 2 or 3 months worth would be adequate assuming there are no mistakes. If there are substantial mistakes, a thorough audit may be necessary to avoid penalties, interest and back taxes. Then it may be time to shop for another more reliable solution.

The best way to diagnose any potential problems with your payroll is to invite an expert to conduct an analysis of your current arrangement.
If you are currently with a PEO and it’s been more than one year since you’ve had an expert look at your payroll services setup, now is the time to revisit this topic.

If you are considering a change from your current payroll provider, connect with us and we can talk with you about all the options that are available and that best suit your business needs.