Payroll and Your Practice…
What do you think of payroll? Does your firm consider payroll services as a significant component of your offerings?
For professional accounting firms, payroll services have been somewhat of a roller coaster ride over the past couple of decades, and many firms are eagerly diving back into the client service.
Why? Because this core need of businesses of all sizes is still a great client relationship strengthener and, perhaps just as importantly, because technology has finally caught up to the needs of professional firms, making managing multiple, dozens or even 100+ client payrolls not only possible,t) but very profitable. Yes, payroll is becoming a core revenue center, with the result that many firms are taking back their client relationships from the big national service bureaus.
In our September issue, we will offer our annual review of professional payroll management systems (which will be available online and in print), with categories of payroll systems that can suit the needs of any firm, whether you prefer to let your clients do most or all of the work, or if you want your staff to cover all the bases, and variations in between.
In the meantime, let us know what your perspective is on payroll services and what you’d like your payroll programs to do better.
Isaac, I love the thought, but I have to disagree.
Payroll is not the way to build a client relationship or strengthen it. If you do not have such a relationship, you have to compete with every bank, every bookkeeper, Intuit, Sage, and half of the universe for the relatively trivial tasks of cutting checks and filing taxes. That is no way to survive in today’s accounting world.
The relationship must come first, and you must be prepared to show each client why your service can provide more value than Intuit Online Payroll, or you are out the door.
Of course, I think most accounting firms that focus on client service and satisfication can easily demonstrate value. Those who cannot should get out of the payroll business, and it will quickly become a dance of Limbo…how low can your fee go?
Find how you can better serve the customer, and the payroll business will follow…IMHO.
Dave McClure
I LOVE PAYROLL!!! Anyone who doesn’t have a profitable payroll practice needs to rethink how they charge for it and process it. With the technology today, Payroll is very Profitable. Are you billing for software, time or VALUE? If you are billing for value the opportunity is huge. Especially with Intuit Online Payroll for Accountants. Don’t try and compete with the people who want to use Quickbooks—Go after the ADP and Paycheck clients of the world. I”m a Payroll Betty! I’m Proud and I’m laughing all the way to the Bank.