Are you ready to break up with your payroll provider?

Sometimes, it really is them, not you.

Contrary to what some businesses are led to believe, you don’t actually have to wait until the end of the year to make the switch to a new payroll provider. If you are unhappy with your current payroll provider and want to switch to Fingercheck, we have put together this handy little primer on changing payroll providers midyear.

Misconceptions about switching payroll providers

Let’s start by dispelling some myths about switching payroll providers midyear.

Myth 1: It will disrupt your business operations

Nothing could be further from the truth. All good payroll providers, Fingercheck included, let you transfer all your payroll data with a click of a button. Your business will continue to operate just as before without any adverse effect on your day-to-day operations. You can also seize this chance to review your payroll records and set your small business up for growth with Fingercheck.

Myth 2: It will cause confusion and errors

Also not true. After you have opened an account with Fingercheck, our super easy onboarding process will hold your hand and walk you through everything that you need to know about managing your payroll. There are also tons of resources available to help you get familiar with the system and its features, such as employee scheduling, etc.

Myth 3: There are potential tax issues and compliance risks

That is never the case with any good payroll provider. Fingercheck ensures that your payroll is compliant with the latest federal, state and local laws and regulations. After switching payroll providers, you will also see your tax history and past filing records have migrated without any hitches. Your business will never have to worry about any tax issues or compliance risks.

Step-by-step process of changing your payroll provider

The process begins the moment you decide to hunt for a new payroll provider.

Step 1: Know what you want

Which payroll features matter the most to you? Make a list. Also include any additional perks that you want. This could be reporting, direct deposits, tax filings, etc. You also want to take into account all the benefits you will need as your business scales. Once you are done, it’s time to go hunting for a new payroll provider.

Here are some of the features Fingercheck offers. These are designed for payroll automation:

• Unlimited payroll at one price. You pay one low monthly fee instead of paying fees each time you process payroll. Most businesses cut their costs in half by choosing Fingercheck’s flat-rate pricing.
• Convenient mobile app. Get 24/7 access to your payroll from anywhere. You get payroll oversight and management while you’re on the go, whether you’re traveling for business or taking time away. 
• Employee engagement. Your team gets access to payroll from the mobile app, too. They can log into their accounts anytime to make updates, monitor their payroll information or submit finance disputes.
• Flexible pay schedules. Determine the best timing for your employees’ paychecks, and set it up according to your needs.
• Next-Day Pay. If you cannot process payroll by the due date two days prior, then Fingercheck’s Next-Day Pay allows you to run payroll by 6:15 p.m. EST the day before. (A small service fee and certain terms and conditions apply.)
• Pay On-Demand. Instant payments are quick and easy for employees, too. With Fingercheck’s Pay On-Demand, employees can take control of payday on their own and access their earned wages when needed rather than waiting for payday to arrive.
• Set and Forget Autopay. Just like it sounds, this feature allows you to set things up once and let our platform handle the rest.
• Fingercheck PayCard. Give your employees more payment options by delivering payroll on debit cards. They’re convenient, reloadable and easy to use, and employees can use them at any location that accepts debit cards.
• Payroll Finance. With our Payroll Financing program in partnership with OnDeck, you never need to worry about making payroll. In lean times, you can use one-click payroll financing directly from your Fingercheck dashboard.

Need more info about selecting a provider? We have that, too. 

Step 2: Choose the right payroll provider

To find the payroll provider best suited to your business, you have to ensure that the provider has three things:

• A comprehensive payroll solution that checks all the boxes for your needs while also letting you add more services when you need them.
• Their program should have an intuitive user interface while also being functional.
• It should be able to fully integrate with your HRIS.
• And finally, it should offer you the biggest bang for your buck.

It’s always a good idea to shop around and try out a few demos.

Step 3: Break up with your current payroll provider

Inform your current payroll provider of your intention to cancel your service — in writing. Also, find out if you have to complete any additional steps before you can successfully migrate your data elsewhere. In some cases, you may also have to pay some sort of termination fee, but these fees are typically small.

Step 4: Submit your information to Fingercheck

At Fingercheck, we have made this process easy. After you have prepared your data, including all your payroll-related documentation, the Fingercheck team imports that information, making the switch as easy and fast as possible.

Don’t be afraid of change

Changing payroll providers midyear can be smooth and fast. Fingercheck’s onboarding process makes it extremely easy to move to a new payroll provider. And the best part? You don’t have to wait until the end of the financial year.

You can start right away. Contact us today.