Payroll

“Through years of practice, we have discovered that one mistake ends up costing much more in opportunity costs or actual penalties and interest compared to the price of hiring someone to do it for you“

The payroll clerk is responsible for administration, compliance, security, and recordkeeping for a company’s wage and benefits programs.  This includes staying compliant with federal and state labor laws, maintaining the security of the employees’ confidential information as well as computing payroll and remitting payroll withholding taxes each pay period.  The payroll clerk also prints and distributes checks or initiates direct deposits to employee accounts, and prepares the quarterly and annual federal and state tax and information returns. 

In many small business enterprises, the owner will take on the role of payroll clerk because there are limited or no resources to hire someone to do the job. Like bookkeeping, there is nothing wrong with this. You simply have to decide where you want to place your effort. Through years of practice, we have discovered that one mistake ends up costing much more in opportunity costs or actual penalties and interest compared to the price of hiring someone to do it for you. So if resources are limited or you are a do it yourself minded business owner, we recommend that you hire someone to help you with the quarterly and annual tax return and informational reporting requirements. This will provide professional oversight and help identify glitches in your payroll process.

Keep in mind the other benefits of outsourcing your payroll include freeing up time to manager other areas of your business, reducing wage and benefit costs associated with hiring a payroll clerk, utilizing the vendor’s knowledge and resources to help you stay compliant with payroll laws and regulations, and safeguarding confidential employee information. 

If you have already evaluated the benefits of outsourcing your payroll functions and decided that it is the right choice for you, then give us a call so we can help you implement the right payroll solution for you. 

Here is what you can expect when you outsource your payroll to our team . . .

• We will meet with you to identify payroll processes best suited for your business, including pay period frequency and withholding tax deposit requirements;
• We will  help you design and implement a payroll strategy that fits your needs; and
• We will provide you with the knowledge necessary to understand the regulatory compliance associated with payroll for your business.

For more information, please call us at (775) 828-5027 or send us an email.