If you are 70.5 years old or older you can distribute funds from an individual retirement account directly to a charity, known as a qualified charit...
Always do it right – This is an essential reminder for every company when it comes to payroll. It is something that should not be done haphazardly. It should not be entrusted to an incompetent payroll manager or clerk. The failure to manage payroll properly can lead to violations of government regulations concerning payroll, which can mean penalties and other inconveniences. More importantly, inaccurate or mishandled payroll creates problems with a company’s employees, its most important resource. This is why if you are thinking of hiring a payroll processing company, then you should call ePay Payroll of Chino Hill California.
Payroll processing varies depending on company type or the nature of business operations. There is no one-size-fits-all solution in dealing with payroll for different kinds of companies. The person responsible for doing payroll should be competent enough to know how things are to be done, and to be able to present payroll reports and other related documents in a timely manner. This is on top of the need to be aware of important laws such as the Fair Labor Standards Act and the regulations issued by the Department of Labor.
Payroll is not just about computing numbers and matching them to their respective recipients. It also involves highly important things the proper human resource classification. Not everyone who works for a company is an employee. Some could be mere independent contractors. These are things that should not be confused. The proper classification of the labor being paid is a critical aspect of payroll management. As a matter fact, the United States Department of Labor once issued a press release highlighting how employee misclassification is a growing issue. Even if a personnel does not complain about the wrong classification, a company that unwittingly or deliberately misclassifies the labor it is paying can be held legally liable.
Taxes also have to be carefully taken into account. No company would ever want to be involved in tax fraud or evasion cases. Even if it’s not the core operation of a business, payroll can create a tax problem if not properly handled. Even forgivable mistakes in payroll figures can become a problem as they can result in penalties and interests on the penalties.
There’s a need to make sure that payroll functions in a company satisfies employees and complies with regulations. That’s why if a company does not have the right people to handle it, it makes sense turning to third party payroll service providers. These payroll service specialists can provide various services to address varying needs. These including payroll processing, certified payroll report preparation, payroll tax impounding, form filing, and the direct deposit payment of workers‘ salaries or wages particularly those who are being paid on an hourly basis.
Outsourcing payroll functions has a number of advantages. The following are some of these important advantages:
- Cost Efficiency. Outsourcing payroll takes away the need to hire a payroll manager along with the need to get equipment and an office space for the payroll manager.
- A Technically Better Payroll Manager. This is not to say that companies should avoid the need to hire payroll clerks or managers. This is just to highlight the fact that outsourcing payroll means that a company will have a payroll manager who will be available year-round, someone who does not file for leaves or takes unplanned absences, and someone who does not have to be accorded regular employee benefits.
- Updated Payroll Skills and Knowledge. This is another very important advantage of using payroll services. Companies can expect that their payrolls will be handled by payroll specialists who don’t just have the right training and experience but are regularly updated on the latest payroll accounting standards and regulations.
Payroll processing and preparation needs accuracy and compliance to regulatory requirements. This is something we can give to businesses of all kinds and sizes. This is something we can provide with the added advantages of cost efficiency, year-round availability, and regularly updated expertise and skills. Expect payroll to always be done right and on time from ePayPayroll Services.