The Benefits of Managed Payroll Services For Restaurants

A chef and the restaurant owner standing together in a kitchen
By Adam Walters | 06/03/2024 | 3 min read

Managing a restaurant can be difficult. There’s a lot to manage, and the profit margins are razor thin, which is why 60% of restaurants fail within the first ten years. Running a restaurant is more than just making good food; you have to navigate tip calculations, employee classifications, legal compliance, timely payment of employees, and a host of other financial and legal concerns. But you don’t have to do it alone. 

The right restaurant payroll service can help improve efficiency and employee satisfaction, and even address legal compliance through the ups and downs of employee turnover, shift scheduling, and managing multiple locations. 

With IRIS Managed Payroll and HR services, you partner with a payroll expert who can automate and manage your payroll, including integrating it with other HR processes like timekeeping and offer employee self-service tools that let you and your employees focus on high-priority tasks. 

It’s time for you to enjoy peace of mind about payroll, tax, and compliance concerns through a comprehensive managed payroll solution. 

What is a managed restaurant payroll service?

Managed payroll services for restaurants provide your restaurant with the support you need to create a central source of truth for payroll specifically tailored to your business. Whether you’re adding new employees, integrating payroll with time tracking, processing tipped wages, or managing minimum wage and overtime, IRIS’s managed payroll and HR solutions can do it all for you so you can focus on other aspects like growing your restaurant business.

Managed payroll solutions for restaurants accept responsibility for your payroll and HR process and ensure that you pay and file taxes accurately for all employee types across all jurisdictions. This is paired with an employee-friendly platform that features 24/7 mobile access and eliminates the need for time-consuming manual processes on your end.

How does managed payroll save time for restaurant owners?

IRIS’s managed payroll solution saves time by taking responsibility for your HR and payroll processes. We partner with you, taking on these processes, and giving you time to focus on your restaurant's core job responsibilities.

A restaurant-managed payroll solution can manage
• Tip calculations
• Overtime wages
• Minimum wage requirements
• Wage garnishments
• Workers’ compensation
• Synching hours with time tracking
• Affordable Care Act (ACA) compliance

Partnering with a managed payroll provider also helps improve your employee onboarding process. It allows your new hires to onboard electronically, avoiding manual data entry and ensuring that required files, including their W-4, state withholding forms, and I-9, are submitted and signed digitally, lifting the burden on you to manage that onboarding process.

How IRIS Managed Payroll Services benefit your restaurant

IRIS’s solutions are designed to support you by minimizing manual tasks and alleviating tax, payroll, and compliance concerns. We provide you with professional-grade payroll and HR services so you can spend more time focused on your restaurant.

Here are some of the primary benefits of using IRIS’s solutions:

Automate Compliance
Gone are the days when you had to double—or triple-check payroll or tax data to ensure everything was right. Our managed solution provides a tailored need to meet your workforce’s needs. We cover all applicable local, state, and federal regulations, ensuring you never have to worry about compliance.

Tax Credit Assistance
As you continue to process your payroll faster and more accurately, we also help you identify and apply for the Work Opportunity Tax Credit (WOTC). This is a specific tax credit available to employers who hire members of targeted groups who have consistently faced barriers to employment.

Establish Your Source of Truth
IRIS’s Managed Payroll and HR Service solution offers your restaurant a reliable single source of truth for any questions you or your employees might have. Our team partners with you to ensure dependable information on payments, tax details, overtime, and other payroll and timekeeping matters.

Get started today and discover the difference IRIS Managed Payroll and HR services can make to your restaurant business.