Employers who do not have a human resources department or a payroll processor on staff may be burdened with payroll responsibilities. Therefore, they either process payroll independently or partner with a payroll provider to accomplish payroll-related tasks.
Often, business owners and managers may feel that payroll providers take care of all the payroll. Sometimes business owners may assume that the payroll provider takes care of all of the calculating of hours, inputting detailed payroll data, printing reports, and distributing checks. However, this is not the only role that the provider plays.
Payroll is a joint effort in which both the employer and the payroll provider work together to accomplish payroll responsibilities.
Employers must gather employee data, keep track of wages and hours worked, and enter regular payroll.
Payroll providers play several roles in supporting the organization’s payroll that alleviate much of the stressors associated with calculations, withholdings, deadlines, and more.
Here are eight ways a Payroll Provider Supports your Business:
1. A payroll provider provides an application (or applications) that allows businesses to calculate employee wages and withholdings (both employer and employee responsibilities).
Then, based on the employer’s information and the payroll calculations, the payroll provider processes the payroll generating checks (or direct deposits). Finally, the provider withholds and manages the appropriate taxes. Those with high employee turnover, are new to processing payroll, or have been processing some time and are overwhelmed can appreciate the magnitude of the responsibility of a payroll provider.
2. A payroll provider is responsible for the timely remittance of payroll taxes to appropriate government entities (Federal, State, Local).
Many business owners are accustomed to meeting deadlines. However, it can be stressful to remember the different deadlines for payroll remittance. Payroll providers alleviate these stressors and remit taxes timely to avoid potential penalties.
3. Payroll providers supply systems for which employers can easily input employees’ wages and hours worked.
Employers can review the payroll before submittal to ensure the accuracy of the payroll. In addition, payroll providers furnish a record-keeping system that keeps employers compliant with maintaining records. These secure documents can be accessed when an employer has an external or internal request for historical payroll information.
4. W-2 records are generated in a timely fashion so that employers are compliant with deadlines.
In addition, developing and distributing W-2 documents allows employees to file their income taxes on time.
5. Utilizing payroll software allows employers to decrease errors associated with payroll that could be a potential violation of Department of Labor laws.
Employers do not need to fret about errors that may include forgetting to pay overtime or miscalculating hours worked.
6. Payroll providers should provide overall compliance management.
This allows business owners to focus on managing their business.
7. Payroll providers offer a portal for employees to print paycheck stubs and other data they may need on a case-by-case basis.
The portal alleviates employees from knocking on the business owner’s door for paperwork. As a result, owners can spend time running their business and less time pushing paperwork around.
8. A record-keeping system is provided that keeps employers compliant with maintaining records.
It also is a means for keeping secure records that can be accessed when an employer has an external or internal request for historical data.
PaySmart provides additional payroll services designed to accommodate the needs of small business payroll.
Additional services include:
- Pay as you go workers compensation which allows business owners to make accurate premium payments as payroll is processed.
- Onboarding support is available. Clients that are not certain about what forms need to be filled out are able to contact us for further direction.
- Our clients have benefited from utilizing our state-of-the-art systems that allow clients to process payroll from anywhere in the world. In addition, payroll can be completed conveniently from 24 hours a day, seven days per week. This convenient system allows our clients to live their lives, such as attending their children’s extracurricular events and family vacations, without being burdened by payroll.
- PaySmart can support background check needs.
- For businesses that need to be reporting tips, tip tracking is available.
- For interested clients, we offer an online time clock and a PTO tracker.
- Many of our clients take advantage of direct deposit! Employees appreciate the convenience of direct deposit services. Employers are not burdened by distribution tasks and the responsibility of keeping checks secured.
- Paperless reporting is also available, which saves our clients time and money.
- PaySmart reconciles social security numbers ensuring data accuracy and avoiding any labor issues.
We are locally owned and operated.
Our team can provide personalized services supporting fellow small business owners. Our concierge team works together with each client to ensure that we offer solutions that will serve them most efficiently. This is much different than other payroll providers that offer one system and process that everyone has to use. We do this because, as all businesses are unique, we understand that their payroll needs are special. Therefore, we need to acknowledge specific needs. Therefore, it is necessary to provide different solutions to make payroll responsibilities simple, accurate, and efficient for each small business that PaySmart works with.
Payroll can be a burdensome, daunting task that most business owners do not enjoy.
We take pride in alleviating these stressors and supporting the unique needs of small businesses.
PaySmart is a payroll provider located in Mechanicsburg, Pennsylvania, supporting small businesses in the Central PA region. We are dedicated to helping small businesses take care of their payroll needs. To learn more information about how PaySmart may provide payroll solutions, please contact us at 717-766-1777. Our New Client Concierge is waiting for you!