Efficiently and accurately managing your payroll for franchises for 2023 wages is essential. Most franchises use a payroll service or outsource their payroll management duties to an experienced accountant. Focusing on your business’s growth rather than its payroll responsibilities can seem like the most practical solution and is the case for certain businesses. Small business franchises should still not write off handling their own payroll tasks. Using in-house payroll software gives a company control over its sensitive employee and company data. Spending a flat fee to purchase software will also save small businesses money instead of paying for a provider’s services.
Customize Advanced Micro Solutions Payroll Software to meet all of your unique small business needs. Whether you must maintain compliance in multiple locations or need a scalable program, we offer small businesses an affordable solution. Download our free 1099-etc Demo software to get started.
What to Know Before Getting Payroll for Franchises for 2023
Consider a franchise’s specific needs now and in the long term before you purchase new payroll software. Start by asking yourself:
How large is the franchise? Know your company’s size classification before you purchase any franchise payroll software. Vendors do not create identical payroll programs. Choose a program that directly correlates to what your business requires now and five or 10 years from now. A scalable system will help prevent you from needing to purchase new software too soon.
Where are the businesses currently located? Let your business locations guide you during your payroll decision-making process. Review all city and state locations and which of your employees work remotely or on site. The best payroll for franchises informs you of which regulations to follow and when you must adhere to new ones.
Which forms will we need to stay compliant? Save time and money by not needing to focus on physical payroll resources. Ordering forms directly from the Internal Revenue Service is just one cost. Eliminate the cost of ink and paper when you switch to a digital payroll solution. Your payroll software should include the most commonly used forms and any others you may need.
What is the budget for new software? Test out as many modules as needed before you commit to your first or new payroll software. Exploring free demos is a trusted way to get a glimpse at everything offered by payroll for franchises for 2023 wage requirements.
How Do I Manage Franchise Payroll?
Follow the outlined steps below once you have purchased franchise payroll software for small businesses.
Gather your employee data. Make sure that your employees complete IRS Form I-9 as you onboard them. Collect specific information for each of your employees and store it using tax software. You will have an easier time accessing names and addresses and verifying their Social Security numbers with an electronic solution.
Correctly classify each of your employees and independent contractors. Determine early on who you wish to hire as a W-2 employee versus a 1099 worker. Manage who you withhold and file payroll taxes for in one easy-to-use system. Find payroll for franchises software where you can enter payroll and non-employee compensation and other 1099 information throughout the year.
Determine a worker’s exemption status. Do not overlook your franchise’s hourly employees. Correctly identify which of the workers are subject to the Fair Labor Standards Act’s overtime and minimum wage rules. Stay organized with your accounting and payroll software to avoid any mix-ups or potential penalties.
Select the pay frequency of your businesses. Reliable payroll software helps small business franchises keep up with weekly or biweekly payments. Review state requirements listed as part of your software and automate payments to help your team meet all of its deadlines.
Does My Franchise Need AMS Software?
Simplify tax year 2023 reporting with our trustworthy and comprehensive payroll for franchises software. AMS Payroll processes “live” or after-the-fact payroll in all 50 states, plus the District of Columbia and Puerto Rico. We offer easy payer and employee setup while supporting up to 1,999 payers and 9,999 employees per payer. Automatically calculate your franchise’s federal, state, and local payroll taxes. Reference any regularly updated state and federal tax tables as your company grows and needs them.
Our payroll reporting features additionally include supporting a variety of federal payroll forms. Use our Software Generated Forms add-on module to complete forms such as 941, 940, 943, 944, and 1040 SchH. Our E-File options make electronically filing a business’s 941, 944, and 940 forms both simple and efficient.