How much does payroll cost? - Paper Trails

So, you are thinking of outsourcing your payroll needs.  At this point, you are probably deciding between a few different payroll vendors. And as with any business decision, you want to know how much it is going to cost. Continue reading to learn how much payroll cost.

Why outsource your payroll?

Business owners and HR managers, like you, wear many different hats.  Their daily list is comprised of things like worrying about if there is enough staff scheduled, trying to order supplies, paying the company bills, and much, much more. Oh, and then there is trying to focus on the day-to-day tasks that the business is known for. That’s why we are here—to help reduce your administrative burden and take the stress of payroll and HR tasks off of your plate.

So, how much does payroll cost?

At Paper Trails, we price based on the number of employees you have and your business’ needs. There are different prices for those businesses that run payroll weekly or bi-weekly versus those that run payroll monthly or quarterly.

Weekly or Bi-weekly

For those businesses that run payroll weekly or bi-weekly, there is a base fee starting at $41.00 each time payroll is run. Additionally, your business is billed $4.30 per employee for the number of employees that were in that particular payroll run.

For example, one week your business has 10 employees to pay. That is $41 plus $4.30 x 10 employees = $41 + $43 = $84. The next week, your business has 15 employees to pay. This would be $41 plus $4.30 x 15 employees = $41 + $64.50 = $105.50.

Monthly or Quarterly

For those businesses that run payroll monthly or quarterly, there is a base fee starting at $125 each time payroll is run. Additionally, your business is billed $6.00 per employee for the number of employees that were in that particular payroll run.

For example, one month your business has 10 employees to pay. That is $125 plus $6.00 x 10 employees = $125 + $60 = $185. The next month, your business has 15 employees to pay. This would be $125 plus $6.00 x 15 employees = $125 + $90 = $215.

So, what’s included in this cost?

There are many items that are offered in this base pricing. Included are:

• You will be assigned a dedicated payroll & HR expert. Our team members have many years of experience in the industry. Each of our members works with businesses just like yours and will be side-by-side with you as you navigate this evolving legislative landscape.
• Your business can enjoy unlimited payroll deductions, wage garnishments, and reports whenever you need them. Any employee changes flow directly into payroll to reduce errors and save time.
• Select the pay period that best fits your business’ needs and your employees’ budgets. Choose from weekly, bi-weekly, semi-monthly, and monthly direct deposits.
• Paper Trails provides tax reconciliation, payments, and filings for quarterly and year-end federal and state tax forms.
• Our payroll system features a mobile and online-friendly platform. Employees can access their self-service account from their mobile app anywhere at anytime. As the employer, you gain access to the full online payroll portal, allowing you to manage every aspect of your business.
• Each month, an expert leads a training on a variety of payroll, HR and software topics. Additionally, your business will gain access to the HR Support Center, a centralized place for HR tips, sample policies and checklists, and more!
• We will build a custom general ledger report for easy integration with your accounting system or Quickbooks.
• You or your accountant can access reports via the online portal when you need them.
• Human resources tracking and reporting allows you to electronically store and track employee documents, company assets, certifications, licenses, and more. Furthermore, stay in compliance with I-9 rules via E-verify integration.
• Our workers’ compensation integrations allow you to pay your premium each pay period instead of upfront bills based on annual projections. We partner with local providers, including MEMIC, Eastern Alliance, Acadia, and AmTrust, to find a plan that meets your needs.
• Paid time off management allows you to stay in compliance with state mandates on earned leave with time off tracking and reporting capabilities.
• We provide integrations with select retirement carriers and will electronically transmit employee and employer retirement contributions.
• Our additional features, like integrations with TurboTax and Equifax’s The Work Number, allow you to work smarter. The Employee Marketplace is a place where employees can take advantage of discounts and cash back on thousands of brands and save on items such as travel, entertainment, meals, retail, and more!

Integrated Resources

Our additional integrated services are an added cost to businesses. These include include:

• Timekeeping, Time Off Requests, Integrated Time Clocks, Mobile Punching with Geofencing & Labor Management
• Employee & Team Scheduling
• Applicant Tracking & Job Board Posting Management
• Electronic Employee Onboarding, Offboarding & Employee Document Storage
• Employee Benefits, Online Enrollment & Administration with Insurance Carrier Integration
• Expense Reimbursement Tracking, Payment & Reporting
• Giving & Volunteering Tracking & Reporting

These services range anywhere from $0.50 to $1.00 per employee per payroll.

Additional Fees

In addition to the base fees of payroll and HR tools, there are a few other fees associated with our services. A one-time implementation and setup fee starts at $500 and will increase based on the complexity of the process. Our other fees are as follows:

• Quarterly taxes: $70 per state
• Year-end processing: $120
• W2’s: $5 per W2
• Year-end adjustments: $175
• Amendments: $100 per hour

What to do next

Phew, that’s a lot of numbers and information that we just laid out for you. Should your business have additional questions regarding our pricing, do not hesitate to contact us today! We would love to have the opportunity to discuss your business and its’ needs as well as your employees and their needs. We are in the people business, so the more we know about you and your people, the better we can tailor our services to your specific needs.

Who is Paper Trails?

At Paper Trails, we understand the challenges that small- to medium-sized businesses face because we are a small business ourselves, just like many of you. Our team of 15 fun and knowledgeable payroll and HR experts are ready to help your business. We thrive in assisting other small- to medium-sized businesses not only to pay their employees but to be that dedicated resource that your business needs to navigate all of the payroll and HR compliance challenges. You and your managers may not have the time to be an HR expert, so we pride ourselves on providing thorough education and training on those compliance challenges to keep your business in line.

There is no 1-800 number that will place you on hold for hours. Our team is ready to pick up the phone and answer your questions or concerns immediately. That is how we differentiate ourselves from the competition. Any payroll provider can pay your employees, make benefit deductions, and file your taxes. Paper Trails will be by your side every step of the way as you navigate this ever-changing world. As of the beginning over 2023, we work with over 800 clients and pay around 10,000 employees, the majority located in Maine, Massachusetts, and New Hampshire. Contact us to learn more on how we can help your business.