Payroll is one of a number of bookkeeping and accounting transactions
related to the payment of employees for services rendered. The
process of paying employees for services they have provided
is known as Payroll Service Accounting.
small businesses manage their Payroll
Service processes on their own; however, due of the complex
nature of the calculations required many companies outsource
their payroll and bookkeeping services. Small business owners
may prefer a cost effective, low hassle way of paying their
employees; larger organizations benefit from integration with
in-house systems and detailed accounting journal reports. Payroll
outsourcing has become a very common method used by small and
medium sized businesses that do not want to be involved in the
hassle of running their own payroll.
There are wide varieties of methods to submit ones payroll including
phone, fax, email, direct deposit, online and remote solutions.
Such methods reduce the hours spent processing payroll in-house.
Online payroll services surpass the advantages of traditional
service bureaus and in-office systems by eliminating payroll
hassles and maximizing convenience. Some online payroll services
have efficient softwares, timely E-filing facility.
Payroll companies serve representing a broad spectrum of industries
including manufacturing, hotels, restaurants, professional offices
and more. Irrespective of the company headcount, companies even
offer custom-made payroll package to meet individual requirements.
Companies specializing in Payroll
Service provide Bookkeeping, Accounting, Accounts Payable,
Accounts Receivable, Personal Bill Paying and Income Tax Filing
for Corporations, Partnerships, Sole Proprietorships, Individuals,
Estates, Trusts and Non Profit Organizations.
online payroll processing. They focus exclusively on small business
payroll solutions, and we provide a suitable way to process
payroll and file taxes.
Key Payroll Online is
a convenient, online solution to manage payroll, tax benefits
and human resource needs. It also offers web-based customer
support, online reporting, time and attendance, employee self-service
and general ledger integration capabilities.
Trace Employer Services, an ISO 9002 certified organization
has been a specialist provider of outsourced payroll services
for over 30 years. It provides a full range of outsourced payroll
solutions from fully managed payroll services to payroll bureau
services. They also customize services to meet each organizations
specific needs and are constantly assessed, adjusted and upgraded
to keep pace with the changing environment.
Our payroll processing
services collect company's payroll data, accurately process
the data submitted, and timely deliver paychecks, along with
customized management reports.
Payroll Services offered by companies include the following-
*** Getting Started Checklist
provides all the required information for processing online
*** Easily downloadable
Payroll and Employment Forms
*** Processing and Reporting
Guidelines make one understand the deadlines for processing
payroll on time, value-added products and financial services.
*** Weekly, bi-weekly,
semi-monthly or monthly payroll processing with guaranteed accuracy
*** Payroll checks and/or
*** Helpful tips on maintaining
tax compliance and managing your business
*** All State and Federal
*** All State and Federal
*** Tax and Industry Resources Tax and industry resources to
help you manage your tax filing requirements and ensuring all
tax obligations are fulfilled on time
*** Providing detailed
*** New Hire reporting
*** Child support deductions
*** Retirement plan deductions
*** Book keeping services
*** Paying your employees
via a printed business check or through direct deposit. Employees
can distribute pay to as many as four accounts using direct
*** Toll-free customer
support - Service Center that researches and responds to any
inquiries from tax authorities
Key Benefits of Payroll services include -
*** Reduced costs by
removing the need to maintain expensive equipment or software.
*** Help you to release
your staff to other duties, by saving valuable management time.
*** Fee based on the size of your payroll
*** No software to install
*** Minimize your administrative
overheads and responsibilities
*** Specialist technical
support and payroll knowledge.
*** Ensuring you meet
the requirements of legislative change.
*** Releases staff to
perform activities, which add value to your business
Some of the disadvantages
include Perceived loss of control i.e. Changes in your payroll
must be communicated to your service provider and less flexibility
in how payroll is produced and how reports are generated, especially
for those companies with complex accounting requirements
According to UK tax regulations, there are severe penalties
for improper or inadequate collection of payroll taxes and payment
of wages. These penalties include high fines and can also result
in imprisonment. But Payroll Service
companies today offer the best of both the worlds, the convenience
and autonomy of online payroll processing, and the personal
attention one will receive from knowledgeable account representatives
and customer care professionals. Their highly qualified and
experienced team of payroll specialists provides first class
payroll service and understands the customes requirements. They
save money, ensure you stay on the right side of the law and
provide you with required reports.
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