All businesses, no matter their size, have to maintain accurate records of their employees and must keep up-to-date on federal, state, and local regulations regarding payroll, taxes, benefits, and workers’ compensation. But not all business owners have the time to undertake these necessary tasks or the resources to hire an in-house expert to handle them. A payroll company can provide these services to your business efficiently and affordably, freeing your time to focus on what’s most important to you – your business.
4 Ways a Payroll Company Can Save You Time and Money
Payroll and Taxes
Processing a weekly, bi-weekly, or monthly payroll takes time and attention. Proper accounting for salaries and wages is essential, as is accurately determining appropriate federal, state, and local taxes, deducting social security, benefits, and retirement, and ensuring timely payments are made. A payroll company can handle these duties for you, keeping your business running smoothly.
Providing health coverage, retirement plans, and pensions can be complicated. Small businesses are often unfamiliar with the constantly shifting landscape of employee health, vision, and dental insurance as well as retirement and pension benefits, but a payroll company specializes in keeping aware of changes and understanding how to best tailor plans to specific employers.
Payroll companies can cut through the confusion to ensure your employees are receiving the best benefits available.
Employee injury is an unfortunate possibility, and proper handling of injury claims is imperative to ensure that the business is adequately protected. Payroll companies have the expertise to file and resolve workers’ comp claims so business owners can rest easy and avoid costly errors.
A payroll company can streamline the hiring process, taking care of required documentation and paperwork, and providing new employees with all the information they need as recent hires. Payroll companies also handle unemployment-related claims as they arise, freeing up the business owner to devote time and energy to the business.
Payroll companies offer great services to business owners at affordable rates. Contact Quality Payroll & Benefits today for a free quote to learn how their payroll solutions can assist your business.