Payroll Services

A payroll service is a company that will, for a fee, handle calculation of payroll and tax obligations for each employee, printing and delivering checks, and providing management reports, of these functions independently, freeing up the business owner's time for more important matters. Paychecks can be issued on a weekly, bi-weekly, monthly, semi-monthly or yearly payroll basis.

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Detailed Description for Payroll Services

payroll service is a company that will, for a fee, handle calculation of payroll and tax obligations for each employee, printing and delivering checks, and providing management reports, of these functions independently, freeing up the business owner's time for more important matters. Paychecks can be issued on a weekly, bi-weekly, monthly, semi-monthly or yearly payroll basis.

In addition, payroll firms can offer services such as automatic check signatures, envelope stuffing, and direct deposit of checks. Once an account is established, the employer simply provides the service with a list of all employees, the hours they worked, and any variances. This data is then processed and the funds are transferred from the employer's bank to the payroll service's account. Employees are paid either by standard check or direct deposit. The employer is then provided with payroll and tax reports. Vacation and time off can also be tracked. Some services even offer the option of managing the employer’s tax payments, handling time and labour management issues, assisting with tax compliance, managing expenses, and even pre-screening assistance.

The service also routinely handles the necessary paperwork for direct deposit of employees’ pay checks. Fees for services vary depending on the size of the account and the types of services rendered. Normally, there is a charge per person, plus a charge per check issued.

Services Includes:-

·         Complete and up-to-date management of payroll related information – payroll data entry, payroll data processing and updating

·         On time pay slip generation and resource related information management

·         Periodical and regular payroll reports

·         Ready to access presentations facilitating quick retrieval of information

·         Customized and automated/web based payroll administration services

·         Proven and efficient process defined payroll administration and management

·         Payroll tax return services

 

Online Payroll Services

Online payroll services operate in the cloud and allow businesses to manage and run payroll from anywhere. Online payroll services typically offer the following services:

·         Run payroll: Online payroll services automatically calculate how much employees should be paid each pay period and deposits the funds via direct deposit or check.

·         Payroll taxes: These services withhold employee taxes, file quarterly payroll tax reports and pay tax withholdings to the proper state and federal agencies.

·         Report filing: Online payroll services complete all of the required reports that must be filed with federal, state and local governments. In addition to sending those reports in on time, some services offer businesses the ability to review them online.

·         New hires: Many services report new hires to the government for you.

·         Integration: Most online payroll services integrate with accounting software. This gives businesses the ability to keep more accurate financial records.

·         Paid time off: Many of these services keep track of employees' paid time off. These features also allow employees to request time off and let employers approve or deny it.

·         Benefits administration: Some online payroll services offer tools to manage health insurance plans, flexible spending accounts and transit reimbursement plans.

·         Retirement services: Some online payroll services have systems that make it easy for businesses to set up and monitor retirement plans, and for employees to control their contributions.

 

 


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