Nothing is more vital to a company’s workforce than accurately calculated employee paychecks. Payroll forms an essential part of running any business but can be time-consuming to process. Outsourcing your payroll processing and tax administration ensures that your employees are being paid correctly and on time. The PEO’s payroll specialist can be counted on to be responsive, accurate, and to provide the highest level of customer service. Identifying and minimizing payroll errors and mitigating payroll and tax-related risks, allows you more time to concentrate on growing your business.
The PEO will operate in a manner that you will find to be completely reliable, hassle free, and no surprises for you or your employees. You will be assigned a dedicated payroll processor. This person plays an important role in becoming familiar with you and your staff and knowing the intricacies of processing your payroll, which will ultimately save you time and money.
Payroll services include the following:
- Complete payroll processing
- Direct deposit and/or pay cards
- Job costing
- FUTA, SUTA payment, filings, and reconciliation
- W-2 filings and distribution
- Processing garnishments and deductions
- Employment and wage verification
- Online processing
- Employee record storage including, PTO, holiday, sick, vacation, and other accruals
- Time and attendance records
- Employee file maintenance
- Standard and customized payroll reporting
- Respond to employee pay check inquiries, and much more
Benefits of Outsourcing Payroll and Tax Administration
Level of Accuracy
When it comes to payroll, accuracy is vitally important. Mistakes can be costly and have serious repercussions like penalties from the IRS for incorrect or late filings, not to mention dealing with irate employees. Severely botched filings can incur huge penalties that could set your business back and tarnish your reputation. New regulations introduced each year makes payroll processing more complicated than ever. Being compliant with a high level of accuracy is a valid reason for using a PEO’s resources and expertise.
Managing your payroll on your own robs you of the time that could be spent on more important tasks like marketing campaigns and making sales. This could be a major detriment to productivity and could potentially reduce business profits. Allowing a PEO to take care of everything relating to payroll will free up the time for more important business matters that benefit the company.
Small to medium sized companies, in particular, can benefit from outsourcing payroll administration as the activities and processes involved squander valuable employee resources that could be used elsewhere.
Information leaks and network breaches have become alarmingly common and businesses have to be very careful with security. Information in the wrong hands can lead to serious problems like data tampering, identity theft, embezzlement and fraud which could take months and even years to resolve. PEO professionals understand security risks and have access to technologies that keep payroll information secure and safe, quickly responding to security alerts and addressing issues before they become a major threat.
With all the complications and complexities involved in payroll processing, outsourcing is becoming more and more essential for accurate reporting, saving time and money, and protecting financial information.
Roc-co. Consultants services several areas in the state of Texas, such as Houston, San Antonio, Dallas, and Austin. Contact us now by calling 936.522.6097 or online using the contact us form.