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How do I set up payroll for a small business and keep it affordable?

I have a small business and I am ready to hire one or two employees. I want to know the best way to establish and manage payroll on a tight budget. I am kind of a do it yourselfer but I want to make sure it's done right and with not a lot of hassel. Any advice?

Public Comments

1. I used a service called ADP which was very affordable for a small business. There are options that can let you save a little more when you have only a few employees such as having the payroll done bi-weekly or monthly. They make all the tax deposits for you and do all the monthly, quarterly and annual tax reports. I think it cost me about $35 / month. I am an accountant by trade so I could do it myself but with 5 to 8 employees and all the filings, I thought that spending $35 once a month was a bargin, think of it as a way to let you spend more time on business.
2. Use quickbooks...there is a shorter version, and a larger one...so check out which would work best...but it is easy to understand.
3. RJ Software Ltd produce a program called timesaver payroll, this caters for up to 100 employees and does all the tax calculations and produces all the required paperwork.