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Payroll options for your business

Whether you are a payroll processor or a payroll recipient the need to have things done correctly is imperative, because when you mess with employees’ paychecks it can cause unnecessary conflict in the workplace. Today, there are so many ways to avoid payroll mistakes in terms of software. One example is Paycom. You may have seen the Paycom commercials  lately. In addition to Paycom there are other options in todays fast paced workplace to process payroll efficiently.

Tabitha Hollimon

According to Tabitha Hollimon, Owner and Fractional Chief Financial Officer at Hollimon Strategic Advisors, LLC, the choice of what processing option to choose, you must look at your budget and your organization size first.

“My go-to payroll software for small to medium sized businesses are ADP, Gusto and Quickbooks Payroll.  These are just a few software options that can deliver on the needs of the organization.  Payroll can be simple, but it also can become cumbersome based on several variables.  The business owner should consider how many employees are on staff, how much involvement the organization desires to be in the process and the price,” Hollimon explained.


A kind of middle of the road option is the familiar QuickBooks. The software offers many levels of subscription depending on the needs for the organization. Many small and medium sized businesses consider this to be their software of choice. Hollimon weighs in on some of the pros and cons of the online version of this software.


  • Quickbooks Online is ideal for service-based businesses, small Online and Retail Sellers, Freelancers and solo entrepreneurs
  • The online version offers so many useful tools for a business to have a great set of financials, if done correctly.
  • Quickbooks Online offers inventory management, categorization, reconciling component (very important), invoicing, on-the-go payment processor.
  • They have great customer service via email, chat, and phone.
  • Quickbooks has built a robust community of apps to assist businesses with various tasks such 1099 filing, time keeping for employees based on client or project, proposal, and engagement writing, and so much more.
  • Offer bookkeeping services to help business owners keep their financials in order.
  • Quickbooks Online has a payroll feature.


  • Quickbooks Online has limited capacity for certain industries such as construction, huge retail stores, restaurants, etc.
  • Compared to other online accounting software, QBO subscription can be more expensive.
  • Business owner has ensured they choose the correct subscription, or it could become a hassle to try and downgrade.
  • Training time to become familiar with software.
  • Quickbooks Online is a vast software and can overwhelm a new business.
  • There are features that can be confusing like the bank payment matching feature and expense matching.
  • If a business owner attempts to do their own bookkeeping, the financials can become a disaster and cost hundreds of thousands of dollars to fix.

In-house or outsource?

Hollimon recommends that, “If a company can afford to hire a full-time or part-time in-house payroll employee, I believe this would be the best option.  The business can maintain the payroll and ensure employees checks are cut or deposited.  The company maintains control over bank accounts and employee data. This would reduce the risk of employee’s sensitive information being outside the office.  On the other hand, the company would be responsible for training cost and any liability if payroll taxes or reports are filed incorrectly or late.

For small businesses who do not have the resources to pay an in-house employee, they should outsource this task to a payroll company.  The benefit of outsourcing is checks and balance.  The outside payroll company has an objective point of view for the business’s payroll.  The business would not be responsible for training cost nor liability for inaccurate payroll filings if laws change (if the payroll company offers a guarantee).  The outsourced payroll company could be a lifesaver to the business if there is payroll fraud.”

Payroll issues can be a thing of the past with all the technology out there to help you navigate them. It takes research and really knowing the needs of your organization. Make sure you do your research and really understand all options before going in a direction, especially if you are a new business just starting out.

If you need more assistance in your options for payroll processing you can speak with Tabitha Hollimon at Hollimon Strategic Advisors, LLC. Offering fractional CFO services would help six to seven-figure businesses analyze profits and cashflow, measure business financial strengths and weaknesses, and propose corrective actions to either maintain or become profitable and sustainable.

If you are a business owner who is frustrated because your business doesn’t have a clear plan for success, then let’s schedule a free call.  Once you schedule a call, you may qualify for a free Business Financial Assessment.

Erin Campbell has worked in and around technology, media, and digital marketing in some aspect throughout her entire career. She loves being able to share that knowledge with you to help you succeed in business and in your career.

If you have ideas for technology in the workplace and how it can help you be more productive send her an email

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