Payroll is one of the most confusing areas for many small business owners. It can also be one of the biggest expenses a small business owner faces. I have seen first hand how mistakes in payroll can cripple very successful businesses. If you have experienced that yourself then you know that a great payroll company is worth its weight in gold. One of the best online payroll services is Gusto. We use it for our business and recommend it to all physician practice owners. Here are 7 reasons you should be using Gusto Payroll for your business.
1. Ease of Use
From setup to paying employees, Gusto software is clean and easy to use for a business owner.
Many payroll software out there make it easy to use if you are an accountant and know your way around payroll. However, Gusto’s software is easy for anyone including a new business owner, the physician owner, or the office manager. This is one of the biggest reasons I recommend Gusto to my clients.
2. Payroll Tax Return Filing & Compliance
Gusto is a full-service payroll provider at a self-service price. From paying employees via direct deposit to filing your payroll tax forms, they are one stop shop.
When you run payroll, Gusto withdraws the necessary funds from your bank account and delivers those funds to your employees as well as the IRS and state agencies. At the end of each quarter and year, they remit all of the necessary tax forms for both your company and your employees.
3. Accounting Integration
It doesn’t matter whether you use Xero or Quickbooks because Gusto Payroll integrates with both. I have reviewed countless books (Xero and Quickbooks) for small businesses and the number one area that is almost always wrong is payroll.
The main reason for this is that when you as the employer make a payroll tax payment to the IRS and State, it is typically mixed with both employer and employee taxes. As a result, your bookkeeper or accountant needs to go in and adjust that mix to the correct category, which tends not to happen. Instead, they end up getting commingled in either salaries or payroll taxes.
Gusto’s integration makes it easier by doing it for you, so you don’t have to.
We recommend even more sophisticated reporting in your financials to include each category.
Let's say you are a medical practice with 5 employees which includes you as the doctor, a nurse practitioner or PA, medical assistant, office manager, and a front office person on actual payroll.
You are likely used to just seeing on your financials.
You can setup departments in Gusto so as you run payroll it gets broken down into each of their respective categories you choose.
Salary- Medical Staff
Salary- Admin Staff
That way when you're analyzing your staffing costs to see if they are in line with your benchmarks you can clearly see each area to compare.
4. Employee Access
Employees also need access to review their paychecks and information on file.
Ever had an employee ask “Where’s my W2?” or “I need a paystub for ________.” Gusto provides each employee with access to their own portal so they can pull their forms down as needed, as well as update any personal info rather than coming to you to do that.
If they don’t have access, then they have to rely on you, your office manager or your payroll admin to make changes. The more time you spend getting data for your employees the less time you can spend on profitable tasks or growing your practice.
5. Growth- HR, Insurance, 401(k)
As you grow, you want your HR department to be like a fortune 500 company HR Department. Or at least run itself like one. Gusto allows for that. They offer easy access to areas that consume small business owners time like benefits and compliance. When you are ready to start offering health insurance or retirement plans, Gusto can help set each of those up for you.
6. Customer Service & Support
Gusto has a customer service area with an actual phone number. Whether you need help running or fixing a pay run, they are there to walk you through it.
One of the other biggest areas of help they offer is tackling the payroll IRS letter. When an IRS letter gets sent you, a pit in your stomach may form. You stop what you are doing and try to address it. Gusto offers support for you and they will do the research for you to figure the reason you got it. Depending on the issue, they may resolve it or let you know what you need to do to resolve it yourself.
7. Transparent Pricing
There are no surprises with Gusto Payroll when it comes to pricing. They let you choose from 4 different monthly price options based on your needs.
Gusto's Core payroll pricing is simple: $39 + $6 per employee per month. So if you have 5 employees, then it’s $69 per month.
These are the 7 reasons why we recommend Gusto payroll to our clients. As a small business owner myself, I use Gusto and it’s proven to make my life much easier. Sign up today and get 1 free month. Then check payroll off of your to-do list.