It’s best to switch at the start of the quarter or at the end of the year, when you’ve already closed out your last payroll for the quarter or year…
If you’re considering switching payroll providers, it’s best to switch at the start of the quarter or at the end of the year, when you’ve already closed out your last payroll for the quarter or year. But circumstances could require a midquarter or midyear conversion. For example, if your current provider is causing you unbearable stress, you may need to sever the relationship right away — in which case, a midquarter or midyear switch may be necessary.
Your new provider will also typically ask for some relevant pay information, so plan some time to either gather this information from your CPA or Payroll Provider. This process typically takes a few weeks, so if you’re considering switching, get started as early as you can.
To change, companies generally need to provide:
If you are planning to switch, you may want to consider moving at the start of the fourth quarter. With most companies moving at the end of the year, you would beat the rush moving for the fourth quarter and ensure both you and your new provider have adequate time to review your payroll data and prevent any mistakes.
When considering switching payroll providers, determine what’s missing in your current provider. Often, employers switch because of the following:
Thinking about switching payroll providers? Contact us for more information.
Copyright © 2019