Dollar estimates in the chart below were calculated using a company
of 10 employees with bi-weekly payroll cycles.
| General
Comparison |
ManageMore
Online Payroll |
Other In-House
Payroll Solutions |
|
Direct labor costs associated with processing payroll and tax
filings |
$0 |
$2,600 |
|
Annual service fees incurred |
$1,100 |
$0 |
|
Annual W-2 Preparations |
$0 |
$100 |
|
Annual Tax Table Updates |
$0 |
$300 |
|
All local and state tax filings prepared and sent automatically
|
Yes |
No |
|
Annual Penalties incurred from late or inaccurate tax filings
|
$0 |
$845* |
|
Direct Deposit capabilities |
Yes |
No |
|
Periodic software updates needed |
Never |
Yes |
|
Training required for bookkeeper or controller to handle payroll |
Minimal |
Extensive |
|
Access to Payroll Experts who understand your local or state tax issues |
Yes |
No |
|
Additional services can be addressed like Workers Comp, Section 125,
and other HR services |
Yes |
No |
* This estimate was provided by the IRS who states that 40 percent of
small businesses pay an average penalty of $845 per year for late or
incorrect filings.
