What Does a CPA Do?
As a payroll service provider, we are able to process payroll, tax statements, year-end taxes and more. Our clients utilize our service because it ensures their employees and taxes are accurately paid and completed on time. When your business is faced with deadlines and deposit requirements, having a reliable payroll service is crucial. We go above and beyond the basics of simple calculations. We also handle deposits and withdrawals, new-hire reporting, and withholding and paying garnishments.
Wage garnishment is a legal procedure and therefore must be done correctly. This occurs when an employee’s earnings are required by a court order to be withheld by the employer. Usually these withholdings are meant for things like debt or child support. Having this set up in your payroll system means this will be done automatically and calculated correctly for you. Our services save you time by filing your federal, state and local taxes for you. We are your dedicated account team. By creating an online payroll system, keeping track of your employees and paying your employees is simple. Once this system is set up, you can manage payroll from anywhere, even if you only have a single employee.
This means you will always be aware of what is going on within your company in real time, even if you cannot be onsite when asked to make a review. Everything is automatically calculated for you, including: shift differentials, overtime, holiday pay and taxes, and social security and benefit deductions. We also offer your employees access to a self-service portal where they can log their hours and review their pay. Allowing your employees to track their hours and see their income will give them peace of mind. Additionally, your employees will notice any issues with their payroll immediately.
When we set up your payroll system, we first take into consideration how frequently your employees are paid. Each state is different, so knowing the local laws regarding pay frequency requirements is necessary. Any tax related matters are addressed as well. We do require the appropriate tax ID numbers from all of your employees in order to set up the program correctly. Each employee is then classified for their specific position. This is an important step because misclassifying can result in costly penalties. Proper withholdings are also taken into account so that quarterly and annual tax filings are done correctly. Any voluntary payroll deductions, such as retirement accounts, insurance premiums, and even medical deductions can be placed into the system for each employee.
Why Does My Business Need a Payroll Service?
A reliable and quality payroll service is critical for the success of your business. Paying your employees the correct amount and paying them ontime is expected. Any company that fails to do so is subject to investigation by the Department of Labor (DOL) Wage and Hour Division (WHD) or the local wage and hour department. An employee can make this call and complain at any time. Having an open investigation costs time and money and can stain the reputation of any business. Having a payroll system that automatically calculates payment for each individual employee keeps this from happening. If any errors do occur, they can be fixed quickly and your business will not be negatively affected. By allowing us to create and monitor your payroll system, we can keep track of financial records and make any needed changes in a timely manner. At the end of the day, having loyal employees is only possible if you take care of them and make minimal mistakes when it comes to their paycheck.
What Are the Benefits of a Payroll Service?
There are numerous benefits to hiring a payroll service. We help you overcome and avoid common business challenges. We plan for challenges and prevent mistakes from happening in the first place. Having a reliable service will save you time and money, no matter how small your business may be. We create ways to embrace change in your business and help it thrive, even during economic downfalls. In today’s current situation, COVID-19 has made it difficult for business to remain profitable. By being open to change and allowing us to help you evolve, we can get you through these tough times. This all stems from payroll services, making it easy to upscale or downscale employees when you need to. Our service also maintains employer compliance. Simply put, compliance refers to company programs that are specifically designed to prevent you from committing any violation standards, code violations, and staying within regulations and laws. Think of compliance as a safeguard for you and your business. In doing so, you also set policies for your employees for the same reasons. Lowering risk management as much as possible is key.
This protects you and your company from possible lawsuits and other legal action when hiring or terminating an employee. Here you can outline expectations of your employees and what regulations are expected of them during working hours. This covers everything from paid time off to accidents on the job.
No matter the size of your business or number of employees, processing payroll requires time and attention to detail. Instead of investing valuable time trying to do this yourself, you could be pursuing more business opportunities and building revenue. By outsourcing your payroll to us, you will have more time to focus on what matters to you and your company. You can specify how we report, communicate, and contact you regarding payroll information. In the meantime, you can be assured your payroll is being done correctly and sufficiently.
At FJ & Associates, we are committed to helping your business grow and succeed. Payroll services are a fundamental aspect of any company. This is the root of its stability and needs to be done correctly. Our experienced staff will set up and monitor your payroll service and keep it running smoothly. We are also trained in catching and fixing any mistakes before they can become a bigger issue. Having these tools at your disposal is good for business. Our dedicated service team is here for your business growth and success.
