How to Find the Right Payroll Vendor: Assisted Living Tips
Oct 28, 2024
Running an assisted living facility? Then you know how important it is to pay your staff on time and correctly. Let's talk about how to choose the right payroll vendor for your business. We'll even share our favorite pick!
Why Picking the Right Payroll Vendor Matters
In assisted living, your employees are the heart of your business. They take care of your residents every day. That's why it's super important to pay them right and on time. A good payroll system helps you do just that. It also keeps you out of trouble with the law.
Check out the video, too:
How to Find the Best Payroll Vendor
1. Do Your Homework
Start by searching online for "small business payroll" or "assisted living payroll vendor". You'll find lots of options and reviews. Also, ask other business owners what they use. They might have great tips!
2. Look for All-in-One Solutions
Some accounting software, like QuickBooks, also does payroll. This can be handy because everything's in one place. But remember, companies that focus only on payroll might be better at it.
3. Check Out Big and Small Companies
Big companies like ADP and Paychex have been around for a long time. They know their stuff. But smaller companies like Gusto or Rippling might give you more personal attention.
4. Try Before You Buy
Many payroll companies let you try their service for free. Take advantage of this! It's the best way to see if you like how it works.
5. Understand the Costs
Payroll companies usually charge a monthly fee plus a bit extra for each employee. For example, you might pay $40 a month, plus $5 for each employee. Make sure you know all the costs before you decide.
Our Top Pick: Gusto
At BeeWell Assisted Living, we use Gusto for our payroll. We really like it! Here's why:
1. It's easy to use
2. They have great customer service
3. It's made for small businesses like ours
Gusto's website is simple to use, and they've helped us make sure our payroll always runs smoothly.
Real-Life Example
Let's say you run an assisted living facility with 20 employees. With Gusto, you might pay a base fee of $39 per month, plus $6 per employee. That's a total of $159 per month ($39 + $120). For that price, Gusto handles all your payroll tasks, including:
- Calculating paychecks
- Handling taxes
- Sending direct deposits
- Providing online pay stubs for employees
This saves you hours of work each month and helps make sure everything's done right.
Wrapping It Up
Choosing the right payroll vendor is super important for your assisted living business. It keeps your employees happy and your business running smoothly. While we love Gusto, the best choice for you depends on your specific needs.
Remember, good payroll management is just one part of running a successful assisted living facility. It helps you take care of your staff so they can take great care of your residents.
If you’re ready to take the next step, download our Business Plan Checklist to ensure you have everything you need to write a solid business plan.
Need help figuring out where to start? Join the next Roadmap Challenge and build your launch plan with me.
Show full transcript 👇
Transcript
00:00:00
payroll is one of the necessary evils of owning an assistive living facility or any small business there are a lot of rules and regulations that you need to be aware of when it comes to payroll your employees are also going to be very sensitive if they're not getting paid on time or the right amount and you need to make sure that you have a good system in place for payroll and one of the best ways to do that is by using a payroll vendor in today's video we're going to get inside some of the different uh
00:00:31
payroll vendor options that are available to you hi everybody i'm brandon gustafson i own and operate two assisted living facilities and i created this channel to help people just like you learn the ins and outs of investing in assisted living welcome to assisted living investing [Music] hi everybody welcome back to the channel in our last video we talked about online business tools that are available to you to help you kind of learn the process of of you know what you need to do and and be
00:01:07
more efficient with your time and and use it more wisely so that you can be more efficient and get things done in your business and work on your business not just in your business in today's video i'm going to go over some of the different payroll vendor options that are available to you and what you can kind of where you can start looking to try to find those and and also um who i recommend and who i use i'll verify i'll give you that um recommendation so make sure you watch to
00:01:37
the end of the video so you can learn um who i use as a payroll vendor so where to start the first thing that you're going to want to to do is start researching your options obviously that's the obvious first step that you want to do is start researching your options who do you have and doing a quick internet search for something like small business payroll software is going to give you a lot of different results and give you several different options you're going to find blogs or news reports of the best payroll
00:02:08
software for small businesses you're going to find a lot of content out there people reviewing things which is for you as a business owner is great they're going to save you a lot of time because they have already compiled these these lists that you can kind of start building off of and and finding the right the right person for you so read a few of these blogs do your own research start going on the websites of these different vendors and figure out which one is going to be best for you look at
00:02:33
their pricing structures look at the different services they offer look at their reviews and see who likes them and why they like them and and what is going on with them another great resource is to ask other small business owners that you are aware of who they use and right now or who they have used in the past and why they switched from them this is probably going to be the best way for you to get information on the different payroll vendors the stuff online is going to be helpful but it's not a real person it's not
00:03:04
somebody that you have a relationship with and so if you're able to have that conversation you probably know a small business owner um somewhere in your network in your life uh reach out to them they're going to be able to tell you since payroll is such a big part of any small business you're going to hear the good the bad and the ugly about these different payroll vendors other small business owners will not be shy when they're kind of talking to you about their payroll vendor they're going to
00:03:29
tell you everything about them they're going to be honest with you especially if you already have that relationship so have that conversation and through that process you're probably going to find one that you are comfortable with i would say and then the next one is see if if one of the other applications that you're using also does payroll um so in a future video i'll be getting into other vendors for things like invoicing or bookkeeping and accounting software and some of these vendors also actually have payroll
00:03:58
vendor payroll systems attached to them that you can use and kind of have everything in house there are definitely some pros to that you're just using one login everything kind of is under one umbrella a con with it is if it's an accounting software i'm going to talk about quickbooks and quickbooks in a future video um they're really good at accounting they're pretty good at payroll but you can probably find somebody that's going to be a little bit better because their thing is payroll so that's
00:04:27
something you just want to consider as you're looking through things so right now i'm going to give you some of the options that you have available to you some of your options are some of these larger vendors that work along with kind of larger types of companies and they're really good especially for those companies for you as a small business owner they might not be the best but it's something you also want to just look at and consider don't just write them off because they're a big
00:04:51
company they still might be able to help you out these big companies are great because they have a lot of resource and a lot of experience running payroll you might not get quite as much focused support as you would with a small business because you know they're just you're a smaller company like frankly they you don't matter as much to them that sounds horrible but they're going to give their resources and their better people on some of their larger clients and you're just going to be a small one
00:05:16
so you're probably not going to get the best customer service not to say that they won't give you great customer service just you're probably going to get better if you go with a different option something smaller all that said here are some of those options not talking about about any of them i've not used them but i they have high ratings on on different things so first one would be adp next would be quickbooks which i talked about briefly um previously and then paychecks is another
00:05:45
one those are three pretty big companies that work through payroll systems that you want to be aware of and check out and and see if they would fit for you there are some other smaller vendors though and these ones they might not have all the same resources that an adp has or quickbooks have but they are going to be a little more focused on small businesses and they have a process in place and they're pretty streamlined they're really good at it they're likely also going to be able to
00:06:12
give you better customer support and help you kind of through the process as you're getting things up and running so you want to be aware of them number one is gusto then rippling on pay deluxe pay core and patriot payroll so you want to kind of look at those and do your own research and figure out which one's going to going to work well you can get on their websites and figure them out to figure out which one is going to work for you from there you want to select a vendor so many vendors will have a free trial
00:06:43
for you to go in and try out the application and see if it's going to work for you so you can go ahead and give them a try they'll tell you on their website it's a 30-day free trial it's a 90-day free trial or whatever they'll give you the information on there so look at them see what free trials there are available to you and figure out how you want to work through that process but a lot of these vendors are going to to do that for you to make sure you're comfortable getting into their ecosystem and working
00:07:10
on things and if you don't like an application for whatever reason don't be scared to switch vendors it might seem like a daunting task to like go through the whole process to get everything switched over and everything like that you know but if you are already dreading using a certain application like every time you go on to run payroll and you're typing in your password you're like oh no i can't believe i have to do this again you probably need to switch your um your vendor you're already stressed to the
00:07:37
point that it's not working out well you probably should go with a different vendor and get one that works for you a lot of new a lot of these vendors are going to have a process that's streamlined to help you kind of get in and and switch everything over to their system so there's going to be a customer service rep or there's going to be something that's going to help you through that process don't be scared to get in there and switch vendors up now with each of these payroll vendors
00:08:01
there's going to be kind of a fee structure and the way that this is going to work is there's going to be a base monthly charge for the plan that you select they're based off of kind of tiers and things like for the different services that they offer so they'll have a base price let's say it's 40 a month and then on top of that you're going to have a monthly fee for each active employee that you have in the business during that month and that could be like four dollars or
00:08:29
six dollars a month per employee based off of again that tier of service that you are receiving from that vendor so you'll be able to see that on their website they're pretty transparent in giving you that information that's the fee structure and then there's also going to be potentially additional fees for things like sending out w-2s or or things like that that you could do on your own but they'll streamline it for you the vendor that we use will send out w2s to all of our
00:08:56
employees for the year for two dollars per employee and for me to not have to like go through the process of stuffing all those envelopes and buying the stamps and sending it out like two dollars for me i'm going to spend a lot the same amount of money buying all the supplies to send those out so i'm going to pay that much money to get things sent out to my all my employees for the year like it's a great service to have now that brings me to who i use um so i use gusto and i am going to link them down below
00:09:28
um if you use the link below it's a referral link you'll get a visa gift card i'll also get one as well um but i'm not just saying that i'm not suggesting you use them for the visa gift card they are great we love them we use them in both of our facilities they've been extremely helpful um to work through as we're in different states and working through things they've been a great resource and have great support answering questions that i've had to get us through the process
00:09:53
so i very much i highly recommend using them we've had no issues getting payroll out to our employees on time everything has worked really well i highly recommend them give them a give them a look look at the the link down below um in the in the bio and uh give them a shot give give them a look and see i i highly recommend i think they're a great service if you have experience with gusto make sure you comment down below as well and if you like this video and kind of the overview of the different
00:10:20
types of payroll vendors that are out there make sure you smash that like button and let everybody else know that this is a helpful video for you next time actually i'm going to get into a full tutorial on gusto on how to set up account how to set up an account and how to get registered with them and get into that process so you can kind of see exactly what their interface looks like and how how it works and how you want to get things in there so make sure you go and watch that video to learn more about investing in
00:10:47
assisted living make sure you visit me on assistedlivinginvesting.net i'd love to see you over there i've got free content free resources you can set up a call with me we can have a conversation and make sure you follow me on my other social media platforms as well and just remember it doesn't take a lot just just a little bit keep going keep making progress step by step by step if you do it if you're consistent if you're diligent i promise you that you will be successful you can do this
00:11:12
thanks for watching and have a great day [Music]
Download Your FREE Calculator
Stay connected with news and updates!
Join our mailing list to receive the latest news and updates from our team.
Don't worry, your information will not be shared.
We hate SPAM. We will never sell your information, for any reason.