03/18/2022
Is Quickbooks or Intuit causing problems with your payroll clients?
Paychex has great solutions for all Accounting firms weather you are hosting or having clients do their own payroll!
My name is Sandra Yochum and I have been helping clients and firms for over 15 years!
I am able to provide great solutions for all types of situations.
Here is a brief description of the areas we can cover:
1.Paychex Hosting: this partnership allows for you and the firm to leverage technology that provides you the ability to offer payroll as a service. Should we look to brand it as yours, it could be imbedded within your existing website, driving your clients to login through the online portal to submit payroll. Once they would hit “submit” (or should you hit submit), Paychex would be the behind the scenes processor – creating the direct deposits, paying taxes, and creating all of the returns and W2s. With this platform, we would bill the firm a rate based upon the number of clients built into the program. You elect to either have us bill the firm, then the firm invoices the clients OR you tell us what you’d like to invoice the client then we pay you the difference once the invoice is paid by the client.
2.Paychex Revenue Share: this partnership allows for you and the firm to refer individual business over as you see fit. Each business referred would meet with Me (Megan) to identify best products and pricing for them. Once the client elected to move forward with Paychex and begin running payroll, that client would go towards your initial 5. With this program, we have to have 5 referred clients before you receive your first referral payment. Once we have received the 5 (and they have met the 90 day retention period), then all 5 are calculated with the 25% annualized revenue payment, with a cap payment of $4k per referral. Then, referrals 6+ would simply be calculated on a 90 day retention period. Each 12 month cycle, we would be requiring a minimum of 10 referred clients to renew the partnership year over year.
3.Paychex Acquisition: this partnership allows for you and the firm to sell an existing book of payroll clients. The purchased book of business would have to be either weekly, biweekly, semimonthly, or monthly processors. We are unable to purchase quarterly, semiannual, or annual payrolls solely. Once we receive a workbook of the existing data, then a valuation would be completed, allowing us to create a proposal based upon the information provided. The proposal is based upon a cost neutral change for the clients but would give you, the seller, an opportunity to earn between 8-10x profits on the existing book of business. We have an initial 20% payment upfront, 30% after the conversion period (90 days) and the final 50% concluding the retention period (90 days). Once we enter into the acquisition partnership, any new clients received by the firm would be granted into the revenue share referral program (has a few different details than the standard listed above; no initial 5 to start payment, etc. ).
Sandra Yochum
Paychex, Inc
Business Manager
(719) 761-0038
Email: [email protected]
