A Bookkeeper 4 U provides payroll processing services that rivals even the largest companies in the industry including ADP, and PayChex. Our payroll services include:
- Employee set-up and maintenance
- Timesheet calculation
- Vacation & Sick time tracking
- Tax calculation and reporting
- Pay employee & employer payroll taxes:
941/FICA: Federal tax and Social Security & Medicare
940/FUTA: Federal Unemployment tax, State tax, State
- Local payroll taxes
- Monthly, Quarterly, Semi-Annual, Annual taxes
ADDITIONAL PAYROLL PROCESSING SERVICES:
- Deduction calculation, reporting, and payment:
- Insurance, Retirement, 401K, Child Support,
- Alimony, Garnishment, Levies, Others
- Compute and process payroll
- Produce employee paychecks
- Process employee direct deposits
- Year-end reports
- W-2 generation
- Produce reports
As a business owner, you already know that payroll processing is a critical task for your organization. As a major component of your business, maintaining accurate payrolls will make it easier for your business to manage future audits and taxes, which can have a major impact on the reputation of your company.
The Benefits of Outsourcing Payroll Processing
Small to large businesses across the country are choosing to outsource their payroll processing to other companies because it can save them time and money. In fact, in a recent survey conducted by Robert Half and the Financial Executives Research Foundation, it was discovered that 39 percent of U.S. companies (more than 10 million businesses) outsource their payroll processing. There are many benefits to working with A Bookkeeper 4 U for your payroll processing, including:
Save Yourself Time
From keeping track of benefit deductions to new hires and terminations, staying on top of these tasks can be extremely time-consuming for the average business owner. If you’re like most people, you’re not seasoned at filing W-2s and doing administrative work, which is why it may be a good idea to outsource your payroll needs. As we mentioned above, outsourcing your payroll can save you, the business owner, a good amount of time. This means that you’ll have more hours in the day to focus on business operations to ensure everything is running as it should.
No Major Infrastructure Needed
As you may already know, implementing and maintaining a payroll management system in your office can drain your company’s resources. An effective payroll system requires the purchase and upkeep of extensive infrastructure like hardware, software, and network capabilities, which may not be in your business’ budgetary constraints. When you outsource your payroll needs to a specialized provider like A Bookkeeper 4 U, you don’t have to worry about installing expensive payroll infrastructure in your office.
Contrary to popular belief, there is a fair amount of risk involved when you have in-house payroll. With increasing incidences of financial fraud, embezzlement, and other financial crimes happening within companies across the globe, outsourcing your payroll processing can actually keep your confidential payroll and employee information more secure. An outside payroll company will have access to the latest technology, information, and training needed to stay on top of local, state, and federal payroll regulations as well.
If your business decides to have payroll in-house, you’ll need to hire full or part-time employees, provide an appropriate workspace for them, and purchase expensive payroll processing technology. These overhead costs can be a huge financial burden, especially for new businesses who are just getting off the ground. When you work with a professional payroll processor, your payroll costs will be very predictable.
Compliance With Government Regulations
Most business owners are not experts in the complicated world of government tax regulations, yet at the same time, they are legally responsible for any cases of misrepresentation or a failure to accurately report employment taxes to federal and state government agencies. Mistakes in payroll can lead to audits and costly penalties. In fact, according to the IRS, more than 1.8 million tax returns were audited in 2016 for businesses with an income between $200,000 and $1 million. Of those audits, 978,564 businesses were assessed civil penalties.
As government rules and regulations continue to change, business owners cannot be expected to stay on top of all of them. When you work with a professional payroll provider like A Bookkeeper 4 U, you won’t have to worry about staying up to date on the various government regulations and payroll changes.