The Importance of Choosing a Trusted Payroll Processor
The recent news of the abrupt shuttering of payroll provider MyPayrollHR underlines the importance of choosing a trusted, industry-standard payroll processor. The closing of MyPayrollHR impacted a reported 5,000 small businesses, leaving 250,000 employees without their paychecks, some scrambling to deal with negative account balances.
As a small business owner who has dedicated my professional life to serving the needs of other small businesses, it pained me to read about the misfortune of these businesses. Payroll is one of the most crucial tasks for small businesses, as employee livelihood depends on the reliability, accuracy and timeliness of payroll happening each pay period as expected. Without this reliability, trust between employee and employer can quickly erode.
At SmartBooks, we’ve selected ADP as our payroll processing partner of choice, specifically because this publicly-traded, 70 year old company has the systems, technology, reliability and high financial credit ratings that we can trust to handle our clients’ payroll processing needs. We work closely with ADP, and other trusted payroll processors of our clients’ choosing, such as Paychex, Paylocity and Gusto. These partners handle all money transfers while we manage the logistics of ensuring payroll happens accurately and on-time for each pay period.
If your company was impacted by your relationship with MyPayrollHR, first let me express my sympathies. The life of an employer is stressful enough without experiencing a major failure from a key partner. If you’d like help transitioning to a more trusted partner, please contact us. Our team of certified payroll and HR professionals would be happy to recommend and implement a new solution for you.