This blog will tell you how you can Fund Remote Payroll By Credit Card.
For a minute, let’s step into the shoes of a driving school owner. The challenges the owner has to go through are many. Managing schedules between instructors and students feels like piecing together a never-ending puzzle. Keeping the vehicles in top condition is yet another challenge. Similarly, staying updated with changing road regulations and incorporating new vehicle technologies into the curriculum requires constant effort and investment. These are challenges that driving school owners might have expected the moment they thought of starting the business.
But, there is one challenge that they might have never expected: payroll. Of course, they might be aware of the fact that their employees should be paid on time, but they would never have imagined the struggle they have to go through to make timely payments to their employees.
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Making Payroll Payments Easily
Many school owners may have gone through instances when they couldn’t arrange funds on time for payroll. This is mainly because, in many schools, the time when students pay their fees, and the payday of instructors may not match. This mismatch creates a cash flow gap, leaving owners scrambling to make ends meet while maintaining trust with their staff. Some try taking personal loans and debt, but this method is not sustainable.
A method that helps you make payments during funds shortage is credit cards, but normally, you cannot use credit cards for paying payroll. This is because for you to pay payroll you need to have funds in your checking account. Transferring funds from one’s credit card to one’s own checking account is not normally possible. This means that if you want to use your credit card for your payroll purposes, you need something that takes funds from your credit card and puts them in your checking account.
Zil Money can help you with this. The platform allows business owners to move funds from their credit cards to their business checking accounts directly. That is, driving school owners can pay instructors even before students pay their fees without depending on unsustainable borrowing methods.
After funds reach your checking account, you can use your payroll provider to distribute payroll to your employees. But this is not the only option. You can use the cloud-based platform for distributing the payroll as well. For that, you just have to integrate the platform with your payroll software.
Pay Payroll via Different Methods
Using the platform for distributing payroll allows you to make payroll payments to each of your employees via the method they prefer. The platform offers multiple payment options with which you can easily pay your payroll. Let’s discuss them one by one.
Checks
Zil Money offers three ways to make check payments. The first one is directly giving them checks by hand. For this, normally, you would order the check from third parties, which is time-consuming, risky, and costly. With the cloud-based platform, you can print checks instantly using a regular printer on blank stock papers. Printing checks on blank stock papers instead of ordering them from third parties can save 80% of your check printing costs compared to ordering pre-printed checks.
The second way to make check payments with Zil Money is by mailing them directly to your employee. The online check-mailing feature from the platform automates the entire process of mailing checks. The platform prints your checks, puts them in an envelope, labels them, and mails them via USPS/FedEx on your behalf. Finally, the third way to send checks is by using the eCheck feature. The platform sends your eChecks as one-time printable PDFs via email or SMS.
ACH
ACH payments are processed via the ACH network, which is controlled and monitored by NACHA. Zil Money is an official member of NACHA, which means that making ACH payments via the platform is easy and affordable. ACH is one of the low-cost solutions you can have and typically settles your payment within one to three business days. But if you have to make any urgent payment, the platform offers same-day ACH, which delivers your payments within the next business day.
ACH transfers are the best for settling recurring expenses like bills, invoices, etc. You can even schedule these recurring payments. That is, you don’t have to enter the details of these payments each time when you have to pay. This automation saves you time, reduces the risk of late fees, and ensures that your financial obligations are met promptly.
There are also multiple other payment options available on the platform. If you need any information on those, kindly visit the official website of Zil Money.
Conclusion
Businesses can easily fund Remote Payroll by credit card with Zil Money. The platform allows you to transfer funds from your credit card to your business checking account. After that, you can either distribute your payroll using your payroll provider or the cloud-based platform. If you are using the cloud-based platform, you just have to integrate the platform with your payroll software. After that, you can pay payroll using any payment option available on the platform.
