How BooksTime Built Scalable Hiring Practices Rooted In Tradition | Igniweb

How BooksTime Built Scalable Hiring Practices Rooted In Tradition

Jul

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July 31 , 2020 | Posted by Fabian Acosta Cubillos |

How BooksTime Built Scalable Hiring Practices Rooted In Tradition

BooksTime review

If you have BooksTime-integrated bookkeeping software, your automatic payroll runs should also automatically update your accounting info. You’ll save on bookkeeping time without sacrificing accounting accuracy. Aside from offering reasonably priced monthly plans, BooksTime provides an BooksTimeive payroll platform for both employers and employees. Its features are easy to learn, and you can run payroll in a few steps. Tax penalties are covered if BooksTime ever makes a mistake, and year-end W-2 and 1099 preparation are included in all plans at no extra cost. Its direct deposit option is also a favorite for many users—they can switch between it and manual checks at any time, and there’s HR support. Another huge plus with BooksTime is all of the HR tools available.

BooksTime review

For more details on the features included in any of BooksTime’s packages, visit their pricing page. BooksTime’s full list of included and add-on features is too extensive to list here, but we encourage you to check it out on their pricing page. Since BooksTime only allows for two pay periods per month, you won’t have the option to pay employees on a weekly basis. Their autoBooksTime feature allows users to automate several aspects of the payroll process. The initial setup process is easy thanks to BooksTime’s nine-step wizard tool. We tried BooksTime and compared it to other payroll services on the market.

Accounting

I had been using PayChex since I started paying myself a salary several years ago. But after contacting them about moving to monthly payroll, I realized my payroll expenses would increase fairly substantially. So I did what most entrepreneurs would do – I looked for alternatives. I found several nice options, but decided to use BooksTime as my payroll provider. Not only do I save a lot of money (more than 50% per year), but the process is even easier than it was with PayChex . Time tools will simplify time tracking and time off requests. Then Reeves would dart into a nearby closet to have a more private conversation about the rest of the offer details.

BooksTime review

Your Dashboard is the best place to go once you’ve completed setup. It displays three types of information that apply to your specific situation.

Can My Employees View Their Pay Stubs Online?

We’re on a mission to help small businesses find the right tools to manage their operations. We’ve covered the key options for accounting software, and today we’re diving into our next series focusing on payroll software solutions.

  • Thus, you can use direct deposit for paying employees and contractors alike.
  • This cup of coffee leaves you with a gorgeous syrupy mouth feel after drinking.
  • They input their bank details in the self-onboarding process which makes it a lot easier for business owners to run payroll.
  • Whether you simply need to get a basic payroll system in place or outsource all your business’ HR functions, BooksTime will be able to work for you.

The top-end Concierge level ($149 per month, plus $12 per employee per month) gets you access to certified HR pros and a dedicated support team retained earnings balance sheet . It will take you longer than 15 minutes to set up your payroll, even if you are experienced and have all your documentation in front of you.

There’s a to-do list, which suggests that you might want to complete other areas of setup, such as approving time-off requests and inviting your accountant or other team members to access the site. Other reminders appear on the Dashboard, too, like the due date for your next payroll run. There are also recommendations for tasks your business should complete, like setting up a Workers’ Compensation policy. SurePayroll is better at this overview; its Dashboard is more customizable, interactive, and informative. The site then helps you create and test a link to your bank account (submitted using a company signatory’s name and approval) and select a payroll schedule .

Other Software By BooksTime

And when I signed up, BooksTime was still expanding into new states. I’ve been a customer since January 2014, and I’ve completed three full years of payroll using BooksTime.

The benefits of payroll software speak for themselves, but the price tag can be limiting, especially for small businesses. BooksTime is perfect for businesses looking for a smooth and effortless payroll. It also provides a great way to manage HR at a really affordable rate and it has integrated a lot of new tools with regard to onboarding and recruitment. At this stage, it’s probably best to leave it alone in terms of benefits administration, as there do seem to be certain errors in this area. It has a 3.3 rating on TrustBooksTime which is not the best rating, and most of the negative reviews are recent. I actually got my issue resolved after waiting for 15 minutes on the phone. But the problem is much deeper for benefits administration.

To test its level of service, we contacted the company by phone and live chat numerous times, posing as a small business owner interested in the payroll software. Processing the actual payroll is the easy part for all of the services I reviewed this year—it’s the setup and ongoing maintenance of pay items and employee information that’s hard. I was a little hesitant at first to go with a startup, primarily because you never know how long startups will be around.

If you employ contractors, BooksTime has a contractor plan that costs $6 per person. It comes with unlimited pay runs, Form 1099 creation and filings, and a self-service portal. What’s great about this option is that BooksTime won’t charge you monthly fees in case you don’t have any contractors to pay for the month. Chad Brooks is a writer and editor with more than 20 years of media of experience. He has been with Business News Daily and business.com for the past decade, having written and edited content focused specifically on small businesses and entrepreneurship. Chad spearheads coverage of small business communication services, including business phone systems, video conferencing services and conference call solutions.

Employee Types – You can use BooksTime to pay all employee types. This includes full- and part-time W2 employees as well as freelancers, consultants, and other 1099 contractors. Once you complete the setup process, BooksTime will help confirm you got everything right and you’re ready to run your payroll for the next cycle. The Core, Complete, and Concierge plans can handle payroll for all 50 states, while the Basic plan will only process payroll for a single state. BooksTime offers telephone, email, and chat support during regular business hours. In addition to the support options available, BooksTime offers a searchable knowledge base. BooksTime allows your new employees to access the system and onboard themselves.

BooksTime Features

For online payroll, you simply add your company’s pertinent information, including your location, pay schedule, bank account, federal and tax information, and signatory. You’ll add employees and contractors with some basic information, then you’ll be able to request that your workers fill out their tax and banking data. BooksTime’s platform essentially walks you through each step, with customer service available should you need it.

Can you pay independent contractors through BooksTime?

Can I use BooksTime to pay independent contractors? Yes, in addition to your full- and part- time employees, you can also pay contractors through BooksTime. We also automatically file your required new hire reporting for you, and generate, file and deliver 1099-MISC forms at the end of the year at no extra cost.

There are plenty of reports of BooksTime failing to file with insurers yet still telling customers that they were covered through the dashboard. Coupled with non-responsive customer service for benefits, this is a recipe for disaster that BooksTime needs to rectify quickly. Paid Time Off – Depending on your service plan, BooksTime can handle some or all of your PTO management. Employers can set up policies for vacation and sick time and then track employees’ accruals and balances. Both the Concierge and Complete plans can handle time-off requests. Employees can submit requests for time off in the payroll software, and managers can approve or deny those requests. BooksTime is pretty much flawless when it comes to employee onboarding.

You can now also report a payroll you processed outside of BooksTime. If you’re just running a standard payroll, BooksTime displays an employee list that includes the annual salary or hourly rate for each. You enter any regular and overtime hours and then any additional pay items necessary—commission, bonus, reimbursement, and other earnings . The least expensive is BooksTime Contractor, which offers unlimited contractor payments, is bookstime legit plus 1099 creation and filing at a rate of $6 per person per month . I reviewed the Core plan again this year ($39 per month, plus $6 per employee per month), which focuses primarily on payroll processing and the supporting records and tools. I receive an email once a month reminding me that payroll needs to be run. I log in to my BooksTime account, click the “Run Payroll” button, and verify nothing has changed.

It looks and works very much like the full desktop version. There was nothing I couldn’t find, though I ran into a little navigation trouble when I downloaded a report to a CSV file.

BooksTime Time Tracking

Another great timesaving feature is BooksTime’s extensive and customizable onboarding tools. BooksTime also makes it easy to create or remove software accounts for new hires in Google Workspace, Microsoft Office 365, Slack, Zoom, Dropbox, Asana, prepaid expenses Box, GitHub, and more. Applicant Tracking Choosing the best applicant tracking system is crucial to having a smooth recruitment process that saves you time and money. Find out what you need to look for in an applicant tracking system.

If an employee has an IRS levy or child support garnishment, BooksTime can withhold the applicable amount from the employee’s payroll. It even sends the funds to all states, except South Carolina, at no additional charge. BooksTime is not an accredited member of the Better Business Bureau, and it has a D- rating on the site. However, only 28 complaints have been filed against the company with the BBB over the past three years, which is relatively few complaints for a payroll service.

BooksTime review

If you aren’t an accountant but are looking for one, BooksTime offers a list of accountants and bookkeepers who partner with BooksTime and offer their services to small businesses specifically. BooksTime was created primarily for small-business owners, but it also offers special plans for accountants who manage small businesses’ finances.

The admin mobile site opens to your Dashboard, and a link opens the site’s menu, which is exactly the same as the desktop version’s. The working screens of both the Android and iOS versions are very similar.

Hiring new employees requires onboarding, new tax forms, and state paperwork. BooksTime can manage the new hire process and file required paperwork on your behalf. Prepaid debit cards are automatically bookstime bookkeeping loaded with the funds, and are an excellent option for employees without bank accounts. Printing checks is more labor-intensive, and requires special paper, but is still used by some businesses.

AutoBooksTime Payroll

Fit Small Business content and reviews are editorially independent. BooksTime completes and files all the required paperwork with the state for each new employee your company hires. A $200 annual service charge covers all three tax-advantaged account types . PCMag, PCMag.com and PC Magazine are among the federally registered trademarks of Ziff Davis and may not be used by third parties without explicit permission. The display of third-party trademarks and trade names on this site does not necessarily indicate any affiliation or the endorsement of PCMag. If you click an affiliate link and buy a product or service, we may be paid a fee by that merchant.

Remember, if you find yourself overwhelmed, BooksTime personnel are available to help throughout the entire setup process. Reports can be customized by year, and you can choose the data you wish to include in the report, which can be grouped by employee, state, online bookkeeping or work location. Reports can be exported as a CSV file for further customization or saved as a PDF. In addition to these forms, BooksTime also processes 1099s for any contract employees you may have, as well as both state and local taxes for all employees.

Ryan started Cash Money Life in 2007 after separating from active duty military service and has been writing about financial, small business, and military benefits topics since then. He also writes about military money topics and military and veterans benefits at The Military Wallet. That depends on the size of your business, what services you need, how much you are currently paying, and other factors. I get to save a few hundred dollars on payroll each year, and the process is simple, and worry-free. BooksTime offers just about anything a company, large or small, needs to be up to date with payroll, benefits, and compliance issues. However, the blend is chosen with the American coffee drinker in mind.