Sarah Prevost
Sarah Prevost is the Founder of Mintage Labs, Co-founder of Create Collaborate, Co-founder of the Proper Trust and is also an Accounting Cloud Application Specialist with deep knowledge on payroll and the challenges, pitfalls and upside of providing payroll as part of an accounting service offering.
IA - What are the biggest trends an accounting professional needs to be aware of regarding payroll?
SP - Support Service - How quickly can you reach them? Navigating compliance requirements as it's a moving target with Cares and HR needs to Covid details; also the ongoing support for PPP and RETC and EIDL - that's a big movement along with Time Tracking and Flexiable PTO setups
IA - How can an accounting professional help their clients navigate these trends
SP - We need to work with the owners and the payroll providers on what is available for them to use. Ask more of the provider on details if unknown and request a support review to ensure the data aligns correctly.
IA - What are the top 3 considerations an accounting professional needs to keep in mind when adding payroll services to their practice?
- Does the provider file all the taxes to each jurisdiction as required. Some of the payroll providers are not set up, and you have to review that to ensure the electronic filing includes local taxes too. I was a little surprised and annoyed after setting up a client, only to find out that was not the case. This was not an option, and it would cost me extra time to do the required paperwork.
- Remote worker set up and if the provider is able to assist or navigate you to what is required as we hire people in different states/locations
- Payroll for Owners it's different depending on the entity the experience with that. Know how the payroll was processed before to make sure it aligns up.
IA - What are the biggest roadblocks to adding payroll services to a firm's offerings?
SP - Not partnering up with a provider that aligns with your services. No partner support or attention to the details you need and be patient if its a new servie you are providing like most allow yourself the time to review and check in to ensure it's operating as needed. Also I prefer full service providers who file taxes and assist with followup
IA - What does an accounting professional need to take into consideration when selecting a payroll vendor?
SP - I use Gusto. I also by client preference use Paychex and Intuit payroll. By far my support and attention is best on Gusto and the level of understanding works best for me.