As a small business owner, it’s essential to understand the value of having a reliable payroll manager. A mistake that many small business owners make is assuming that they can do it all or that the company accountant is already handling things. 

However, as any small business owner quickly finds out, many day-to-day tasks must be delegated to keep things running smoothly. Hiring a payroll manager will free up time for other responsibilities such as managing projects and overseeing HR needs. 

What Does a Payroll Manager Do at a company?

In most small businesses, the payroll manager is responsible for all aspects of payroll, including managing company policies and procedures. The responsibilities also include:

• Withholding taxes from employees’ paychecks.
• Processing payments to vendors.
• Preparing employee tax forms.
• Distributing benefits packages. 

Your payroll manager may help you choose the best pay stub maker depending on your business needs. 

How to Determine if You Need a Payroll Manager?

If you’ve got a small business and your payroll is often disorganized and inaccurate, then that’s probably the result of poor management. It is the first sign that you need a payroll manager. Here are a few other pointers to help you work out if your business does need a payroll manager:

• You don’t have time to do payroll yourself, or you lack knowledge about payroll management.
• Your existing payroll procedures are disorganized and inaccurate.
• Your business is growing, and you’re running out of time to manage payroll yourself.
• Your company has relocated or switched to a new software system, and you want help making the transition.

What Qualities Make for an Ideal Payroll Manager?

A payroll manager takes on two critical roles for an organization: ensuring that all company employees are paid on time and correctly according to local laws’ requirements and minimizing the amount of money paid out in taxes. To carry out these tasks effectively, they need a unique set of skills. 

 In addition to understanding both employment law and accounting principles, a payroll manager should also have excellent computer skills.

They should be punctual as paying employees on time is one of the most critical functions of any company. If employees are not paid correctly, they may be forced to file a lawsuit. 

How to Conduct Interviews with Potential Candidates?

Reading resumes is great, but it isn’t enough. When trying to find a good payroll manager, you must know how to conduct interviews. Here are a few tips to help you conduct successful interviews. 

• Be prepared with plenty of questions to ask potential candidates. Try to ask questions that require a “story” from the candidate about an experience they had in a previous job. This will allow you to find out a little bit more about the personality of the interviewee and how they view their character and role in your organization.
• Ask yourself if you truly get a sense of what type of person the candidate is and whether or not they would be able to fill this job position in addition to others that may need filling in the future. 
• Be keen enough to spot candidates who are passionate about the job rather than simply looking for employment opportunities. 

How Much Does This Role Cost?

The average salary of a payroll manager in the United States is $105,128. However, it generally ranges from $92,339 to $120,232. Your employees’ salary will depend on their level of education, certification, and additional skills, if any. 

Conclusion

As a small business owner, you must make sure that all employees receive their entire paychecks on time. However, you have many other responsibilities, and it would be great to delegate this task to a professional. 

The qualifications for this role include strong communication skills and an extensive understanding of employment laws. Managing payroll duties may be difficult without a payroll manager who has proper knowledge of these rules and regulations.