Investing in payroll for service-based businesses for the 2023 tax season benefits companies of any size. Smaller service-based businesses rely on compliance and efficiency to get themselves off the ground and to stay competitive in an industry. You will want an adaptable payroll program once you identify your business’s specific payroll needs and requirements. Whether you need a program that supports multiple state regulations or provides updated tax tables, you do not need to pay above your company’s budget.
Advanced Micro Solutions has six optional add-on modules alongside its base W-2/1099 Forms Filer program. AMS Payroll is a module within our customizable accounting suite of tools. Print over 30 supported check types or process direct deposit payments for any of your employees.
Which Service-Based Businesses Benefit from Payroll?
The short answer is, all of them. Simplify tax year 2023 by finding the most affordable payroll for service-based businesses that meets your business’s needs. Service industries that benefit from payroll software include:
Food-Based Service Businesses – Use payroll software to streamline how you calculate your staff’s earnings and deductions. Restaurant owners must calculate overtime and tipped wages, plus any withholdings and deductions. Keep an employer record of all your deductions with the software.
Lifestyle-Based Service Businesses – Businesses like cleaning services and personal concierge services might send their workers all over the country. Find a program that can support workers in multiple states and regions.
Financial-Based Service Businesses – An accounting firm or insurance brokerage should have software that supports as few as five clients or as many as 50 clients. Get payroll for service-based businesses that allows you to reference different state and federal tax tables. Ensure total compliance for each of your clients.
Construction-Based Service Businesses – Construction companies have specific payroll needs that other service-based businesses may not require. Confirm that your ideal program offers certified payroll reporting and consistent time tracking capabilities. Avoid manual time tracking once you purchase comprehensive payroll software. The software will reduce your small business’s risk of any duplicate inputs.
Signs You Need Payroll Software for Your Small Business
Some small businesses get along fine without payroll software in the beginning. Keep in mind that any size business can make payroll errors. These errors are generally more costly when small businesses incur them. Make a switch to payroll for service-based businesses if:
You do not want to or cannot budget for an external accountant or bookkeeper. Paying an accountant or bookkeeper to manage your business’s finances may be a costly expense. Small businesses often prefer automated payroll services. An intuitive program means that one of your existing employees can handle the payroll tasks.
You need help meeting all of your business’s deadlines. Avoid the costly penalties and fines from the Internal Revenue Service with automated software. Set your program to meet all of the local, state, and federal tax and payday deadlines. An automated program additionally ensures that you pay your employees on time.
You want to ensure accurate tax calculations and compliance. Payroll software cannot eliminate human error. Businesses can still reduce the risk of errors if the program includes compliance laws and regulations.
You want to enhance the security for your business’s data. Store data and send it to the proper agencies with encrypted payroll technology. The best software will protect sensitive employee data and company information.
Why Choose AMS Payroll for Service-Based Businesses
AMS Payroll supports small businesses and accountants in all 50 states, plus the District of Columbia and Puerto Rico. Our program supports either “live” or after-the-fact payroll. Enter payroll or nonemployee compensation with checks throughout the entire year. Our system automatically calculates federal, state, and local payroll taxes. Review the regularly updated state and federal tax tables as you need them.
Access multiple federal payroll forms such as the 941, 940, and 943 when you purchase our add-on payroll module. Our module’s additional features include magnetically or electronically filing nearly 30 state quarterly returns. Streamline your payroll management tasks by printing client letters, creating certified payroll reports, and exporting data to our base program for all year-end processing.
Our five other optional add-on modules are Software Generated Forms, E-File, Affordable Care Act Filer, Forms Filer Plus, and 1042-S Filer. Download our free 1099-etc Demo software today to build an affordable, full accounting suite of tools or explore our individualized options. Enter your business’s actual data into our payroll for service-based businesses software. The system holds onto a record of your data for when you decide to purchase the program.