Payroll Services

Outsourcing your payroll responsibilities can help you save valuable time without compromising on timeliness and efficiency. From tax calculations to direct deposits, an efficient payroll outsourcing solution will be able to handle every aspect for you. It also comes with the additional benefit of minimizing errors, improving data security, and allowing employees to view their pay information through an integrated system.

Expense & Reimbursement Management

There can be occasions where employees first pay out of pocket for business expenses. To keep track of these expenses and ensure that the corresponding amount is reimbursed to them, expense & reimbursement management will come in highly useful. Here, you can keep track of every step of the process, such as whether your employee has submitted a receipt and whether all outstanding amounts have been paid timely. 

Direct Deposits, Pay Cards & Printed Checks

Regardless of how your employees prefer to be paid, you can meet their needs with a variety of payment methods. With direct deposits, all you need to do is make an electronic transfer directly into each employee’s bank account every month. 

Your company may also choose to go the pay card route, where each employee is issued with a card that functions much like a debit card. Their wages will be deposited directly into an account associated with this card. Keep in mind that pay cards are subject to regulation by state laws. 

W2/1099 Printing & Filing

When tax season comes around again, you may be rushing to complete and submit your W2 and 1099 forms. A W2 form requires you to report the salary and tax information of each employee, clearly stating how much they have earned during the year. The 1099 form is the equivalent for freelancers and independent contractors. When you outsource your payroll, this paperwork can be taken care of on your behalf.

Automatic Earning & Deduction Management

Besides paying your employees, payroll management also allows you to keep track of the incomings and outgoings of your company. When a client has failed to make a payment or the payment is expected to arrive late, this unpaid amount is considered a deduction. Other factors that may result in deductions include errors in billing, damaged goods as well as shipment shortages. Your company will need to keep track of each deduction to ensure that it is valid.

Robust Report Library & Lifetime Archive

It’s a good practice to keep an archive of past payrolls. Not only does this allow you to access the information when you require it, but you may also be mandated by federal regulations to retain this data. Hence, it is essential for you to come up with a data retention strategy. When you outsource this job, you will not have to spend hours manually generating payroll reports or organizing your data.