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Deal of the Day

Payroll Processing

Why Payroll Processing

  • Processing employee paychecks can be a time consuming and tedious task.  Computations can be a maze of paperwork, transfers of funds to different bank accounts, employee savings accounts, and different government agencies.  All businesses are required by law to pay certain employee taxes, and to provide end-of-year wage reports (for example, W-2 forms).  These tax amounts can change when employee gets married, has a child, or elects to change exemption status for any reason, and the implementation of new regulations (for example, the increase in the federal minimum wage) usually requires immediate compliance.  Filing late or error-filled documents results in expensive penalties and fees.
  • Hiring us will solve many of these issues.  We will handle all payroll and paycheck processing issues. We will calculate tax amounts and process employee paychecks. Thus you will save both the time it would take to process payroll documents and any costs associated with learning how to do it yourself.

How Payroll Outsourcing Works

  • In order to perform payroll processing, we need to perform employee wage calculation, tax withholding computations, and savings and account transfers.  All of these amounts are paid by your business, so we will need access to employee wage information and access to funds for deposit.
  • We can make payments out of an account held by your business, OR make payments from our own account after you deposit funds.  In later case, we require that you set up an account and keep a minimum balance or a specified “reserve” to draw on if deposits aren’t made in time for pay disbursements. If you offer a direct deposit feature, you need to provide employee bank routing numbers to us.
  • Before starting the payroll service, you should “call in” with hours worked for each pay period.  If you have salaried employees whose wages each pay periods will rarely change, we can take care of it so if you are out of the office or unable to personally relay paycheck or wage information, we can still do your payroll.

Payroll Service Options

Outsourcing payroll isn’t only convenient, it can also lead to significant cost savings. Some of the common payroll service options include:

  • Tax Processing: Most basic payroll processing packages will include the computation and payment of employment taxes. We will compute withholding amounts based on employee salaries and W-4 forms.
  • Cost Reporting: We will give report so you determine employee costs (wages, benefits, commissions, etc.) contribute to total business expenses.  Businesses that offer commissions and bonuses to employees can tell if these incentive structures are working as intended.
  • Direct Deposit: Depositing employee wages directly into bank accounts is a highly valued feature.  Most banks actually require direct deposit as a condition of offering “free” checking accounts.  Direct deposit also especially convenient for companies that hire seasonal staff or those with many employees that are not scheduled regularly- it saves workers the extra trip to pick up a check if they are not scheduled for a shift.
    Benefits of Outsourcing.
  • Outsourcing payroll is a smart idea for you if you don’t have the time or expertise to perform complex tax calculations.  By hiring us, you get access to expert knowledge for a low price.
  • Hiring us as your payroll company allows you to leave the administrative tasks and tedious paperwork to an expert, freeing up time for owners and managers to perform other tasks that are essential to the running of the business.