Payroll assistance available for new businesses
Owners of brand new businesses might feel like they have an endless to do list. Including picking an office space, hiring employees and planning for the future, there are a lot of exciting but time consuming tasks to take care of before you even begin bringing in revenue.
One thing brand new business owners often underestimate is the weight of administrative tasks, and how much time they can steal from businesses of any size, but especially for small companies without employees specifically dedicated to work on them.
Our company helps businesses of all sizes tackle these tasks, and our goal is to give the business owner back the time they need to work on things which will advance the company, and let us deal with the work which doesn’t move the needle, but is very necessary. Among the services we offer are human resources assistance, time and attendance keeping, workers’ comp insurance and payroll management.
In this article, we’ll discuss payroll management and why it makes sense for a brand new business to partner with a payroll services company.
Some owners of startups don’t realize the calculations necessary for payroll management, and are overwhelmed by the different regulations and processes it takes to process just one employee’s paycheck.
Businesses must withhold the correct amount of tax from each check, and this amount is based on the employee’s tax bracket, the amount of withholdings they select and local, state and federal tax law. If mistakes are made at any point in these calculations then the company is subject to tax penalties.
In addition to withholding the correct amounts, the business itself must match the tax withheld for social security, medicare and other programs. From there, the money must be sent to the appropriate government entity periodically to ensure tax compliance.
As you can imagine, this is a tedious and time consuming process.
Luckily, a payroll provider has the expertise and access to software to help the entire process run smoothly. When you use a payroll services company, we can make sure your calculations are always accurate, the funds are sent to the right entities and your employees have the correct paycheck amounts every time.
We also handle tax information for your employees, and will prepare their end-of-year tax forms as part of our payroll services.
If you have hourly employees, keeping up with their time can add a new dimension to paycheck calculations. We offer an easy to use time and attendance software which integrates with our payroll system, so when clients use both they don’t have to worry about ever-changing paychecks and ensuring the right tax amounts are taken out.
By allowing us to manage your payroll, you also essentially eliminate the chance for payroll fraud by time manipulation or employee interference since we handle everything off-site.
For owners of a startup, choosing a payroll services partner keeps potential errors from occurring in payroll and allows them to focus on the more pressing matters in their daily operations. If you think payroll services can benefit your business, give us a call today to get started.
