|
|
|
By pricing your service appropriately and effectively communicating the benefits of your service to your clients, you will be able to add, on average, upwards of $1,000 to your bottom line from smaller clients, and $5,000 or more from your larger clients that have 50 or more employees. Equally important, you will regain full control over your precious client relationships.
Different choices for different clients
Payroll Relief is the only payroll service designed exclusively for accountants. Payroll Relief lets you offer a fully customizable payroll service to meet each client’s particular needs and sophistication as well as your own firm’s capabilities. Here are some different ways you can put Payroll Relief to work for you and your clients:
- You give your clients access to the entire Payroll Relief system on your Client Portal. In this case, your clients enter payroll data, approve payroll and print checks at their locations. AccountantsWorld does the compliance and everything else. You simply have a supervisory role.
- At the other end of the spectrum, you take full responsibility for your client’s payroll. Your firm enters payroll data, prints checks, and delivers them to your clients. AccountantsWorld handles the compliance and everything else.
- You may also implement any arrangement that falls between Scenario 1 and 2 that better suits your or your clients’ needs. For example, your client may enter payroll data, but you do the final approval before check printing.
Whatever the circumstances, Payroll Relief gives you the flexibility to decide client participation on a per client basis, allowing you to accommodate their needs while utilizing your firm’s resources most effectively.
Guidelines for pricing your service
If your client is currently using a service bureau for payroll processing, you already know how much they are paying. Armed with this information, you have an excellent starting point for pricing your service. Remember, you add tremendous value by providing a professional, personalized service to your client, so don’t hesitate to make sure that your pricing reflects this value.
After you add up all the nickel and dime extra costs charged by the payroll service bureaus—which so many clients hate—the overall cost of full-service payroll processing with the major service bureaus typically runs approximately $2,000 per year for a 5-employee company with a bi-weekly payroll. For a company with 50-70 employees, the payroll service bureaus charge roughly $6,000-$8,000 per year. Clearly, pay frequency is a dominant factor in the overall cost equation.
You should also consider other factors when pricing your services for each client, such as the level of client involvement, local competition, your value-add as perceived by your clients, any cost-savings that may motivate your clients to use your payroll service and your own fee structure.
What’s the bottom line?
Payroll Relief gives you all the flexibility you need to happily bring most of your business clients to your payroll service, whether they use a service bureau or prepare their payroll manually and use you for after-the-fact payroll compliance.
|
|
|
|