Since payroll can be time-intensive and complicated, why not use a payroll provider? A payroll provider is a third-party company or service that will handle your entire payroll process.
Consider outsourcing your payroll as soon as you hire your first employee. If executed incorrectly, payroll can be a significant challenge for businesses, potentially putting employers at risk for legal issues.
What do payroll companies do?
Payroll companies help you pay your employees, but they also handle all aspects of the payroll process, including paid leave, overtime, benefits, garnishments, tax withholdings, reportings, deposits and filings, and so much more.
Payroll providers also help you file payroll taxes to keep you compliant, but they might offer much more than that. They also might offer a time and attendance system that will allow you to keep better track of employee schedules or integrations with software you’re already using, like your accounting system.
Here are Six Reasons To Outsource Your Payroll
1. Payroll tax and regulation compliance –
Payroll service providers help businesses stay on top of tax law changes and know which forms to file, which payments to make, and when everything is due to help companies maintain compliance. They may also be able to assist with classifying employees, categorizing compensation, applying for benefits, and complying with FUTA, ACA, unemployment, and other regulations.
2. Keep Your Employee Information Accurate –
Payroll service and HR solution providers often have cloud-based software that makes it easy to accurately track employee time, wages paid, benefits, deductions, and more information. If you need to look up or supply information to satisfy tax agency queries, you can find it at the click of a button or ask your payroll service provider.
3. Verify Your Employees’ Information –
Payroll service providers often offer employee information verification services, including background checks and verified employment eligibility in the United States. Whether you need to verify applicant information and check criminal history before you make a new hire or ensure employee information is accurate on I-9 forms, an experienced payroll provider can help.
4. Keep Your Payroll Data Secure –
Payroll providers have secure technology to protect employee records and allow account access only to authorized personnel, which can help you comply with employee confidentiality regulations. They also present employee records and other data in an organized fashion so it’s easy to retrieve when needed.
5. Ensure Paychecks are Accurate –
Payroll service providers can help you make accurate deductions/withholdings on each employee’s paycheck. Overtime payments are calculated accurately (and applied only to non-exempt employees). If an employee’s wages are garnished, payroll providers can help handle that, too.
6. Take Advantage of Flexible Payment Options –
Payroll service providers have the capabilities to meet the flexible payment demands of a diversified workforce, from paper checks and payroll direct deposit to employee pay cards or alternative payment options. They can also be set up to deliver payouts at different intervals: on-demand, daily pay, weekly, biweekly, monthly, and more.
Bonus! Save Time and Money – Automating payroll with an outside solution provider can free human resources to tackle other issues and foster business growth. You also won’t need to invest as much time training new employees or paying for training programs every time the tax code changes. You also won’t need to panic if a key employee quits right before tax season. Hiring a payroll service provider can amount to significant savings for your business.
Ultimately, payroll service providers can help employers save money, comply with tax laws, avoid penalties, efficiently deploy in-house staff, and reduce worries and headaches about payroll and compliance. If your business struggles with payroll – or if you feel payroll could be handled more efficiently – it might be time to explore what an online payroll provider can do for you.
Why Estess CPAs?
Payroll is a natural extension of our monthly financial reporting and tax services. You can make better use of your business day by allowing us to assist with this critical task. Our confidential, cost-effective Complete Payroll Service eliminates the chore of payroll processing.
Our Complete Payroll Service produces professional, computer-generated checks for your employees, tax agencies, and vendors. We also provide a variety of available payroll reports and analyses. We provide you with peace of mind. We can prepare your payroll quarterly 941s and state unemployment reports, federal and state tax deposits, federal unemployment reports, and W-2s.
Estess CPA’s payroll services can help you reduce the time spent on administration by developing and implementing a computerized payroll system that will facilitate processing, timely payment, and preparation of tax returns. Our payroll software enables us to prepare payrolls for employees in 50 states.
Estess & Associates, LLC
Small Business Services
7822 Highway 23
Belle Chasse, LA 70037
Estess & Company, LLC
Certified Public Accountants
128 Lakewood Drive
Luling, LA 70070