Payroll software company now offers agribusinesses a seamless way to integrate payroll services and other key business functions.

December 12, 2018

2 Min Read
OnPay partners with Farm Credit Services
Onpay

OnPay announced a partnership that will give farming and ranching operations the ability to add a top-rated payroll service to Magnify, the new agriculture management software tool from Farm Credit Services of America (FCSAmerica). This partnership gives farming and ranching operations a full-service payroll solution that meets their distinct business needs. It also brings payroll data together with other financials to provide agribusinesses with all of the information they need to make informed decisions.

FCSAmerica, a financial cooperative for agribusinesses, launched Magnify in partnership with software firms Xero and Figured. Their goal was to create an accounting and managerial software system that helps agribusinesses improve profitability and decision-making through a real-time view of an operation’s overall financial health. Magnify combines automated recordkeeping and accounting functions with production and inventory information to help producers track budgets, manage cash flows and understand their all-in costs.

“This partnership gives farmers and ranchers something they’ve needed for a long time,” OnPay president and chief operating officer Mark McKee said. “Agriculture businesses use complex technology to increase yield and manage production. We’re excited to help make the back office more intelligent, too. Now, owners and managers can save time on payroll, plus get a much clearer picture of their financials with Xero and Magnify.”

As a significant cost to agribusinesses, payroll data are an important addition to the financial picture Magnify provides, but finding the right payroll partner was a challenge because agribusinesses have a unique set of requirements. For example, they must file Form 943 with the Internal Revenue Service, they have special human resources needs for seasonal workers and they need the ability to process different minimum wage rates for agricultural workers.

“OnPay’s experience with agriculture payroll gives the company a unique understanding of the solutions that our customers need to run their businesses and keep their employees happy,” said Tony Jesina, FCSAmerica senior vice president overseeing Magnify. “We are confident that OnPay will be attractive to customers who want an affordable, efficient and easy-to-use payroll option that fully integrates with Magnify.”

Magnify software is available exclusively through FCSAmerica to its co-op members in Iowa, Nebraska, South Dakota, Wyoming and eastern Kansas.

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