[Editor’s Note: This is the second in a series of Intuit articles we are republishing here on Little Square that may help you in the decisions you need to make before hiring workers. Look for more soon.]
In Part 1 of our series of Payroll articles, we talked about deciding what kind of employee you’re going to hire, Now it’s time to think about how you’re going to manage your payroll. There are three ways to do your payroll —by yourself, by yourself with the help of software, or by outsourcing to a third-party service. Use the chart below to figure out which method is right for you.
| Do it yourself by hand | Do it yourself with payroll software | Outsource payroll to a third-party service | |
| Pay Employees | You do the following tasks manually:
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| Pay the Government |
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| File Tax Forms |
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| Choose the Option that Suits Your Company Best | For business owners who are highly cost-conscious and who have the time, expertise, and willingness to handle administrative payroll tasks manually. | For business owners who want to save time by automating as much of the payroll process as possible, while still maintaining control. The cost of software is modest compared to the time savings. | For business owners who want to fully delegate payroll and tax filings. The cost of outsourced payroll can be higher than that of payroll software, but services may be more extensive. |
If you find yourself in the “Do it yourself with payroll software” category, Intuit offers Intuit QuickBooks Payroll for Mac.
About Shelly King
