Payroll Services

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Payroll Services

Processing payroll in a timely and accurate manner is critical for businesses. Maintaining salary, benefits, and tax information can be complex and stressful, which is why businesses choose to outsource their payroll services. Payroll process not only includes computing salaries and wages, but also calculating withholding payroll taxes, managing employer-paid benefits, filing of quarterly taxes, and preparing W-2 and W-3 at the end of the year. When selecting a vendor for payroll solutions, it is important to ensure that they have extensive experience in providing payroll services.

Several businesses have to pay penalties to the IRS for not filing payroll taxes on time or paying the wrong amount.

A&B Accounting and Business Solutions, LLC, provides a full range of online payroll services that suits your business needs. We have over ten years experience in all aspects of accounting. We can help improve payroll management for employers of small, medium, or large businesses. Our payroll solutions division ensures that your payroll needs are met on time, every time.

Our detailed reports show:

  • Payroll Summary
  • Paycheck Details
  • Deductions
  • Last Paycheck
  • Employee Details
  • Contractor Details
  • Tax liability
  • Tax and Wages
  • Total Pay
  • Tax Payments
  • Workers’ Comp
  • Check Register
  • Vacation and Sick leave
  • Billing Summary
  • Total Cost
  • Retirement Plans
  • Contractor Payments

Our payroll services include:

  • Preparation of weekly, biweekly, or monthly checks for your employees.
  • Direct Deposit with detailed paystubs
  • Sick, vacation, holiday pay accruals
  • Federal, State, and local tax calculations.
  • Paycheck printing
  • Online employee access to paystubs
  • Contractor payments
  • Multistate Payroll
  • Federal Tax Deposits
  • Quarterly 941s
  • Annual 940s and 944s
  • Employee W-2s
  • 1099-Misc filing
  • State Tax Deposits

Importance of Payroll in a Venture

Payroll services cover a wide range of factors, most important to know is the value of payroll services. Most companies outsource their payroll from audit firms as they are more benefits than doing it themselves. Among the benefits of outsourcing payroll services are:

  • Assured of the accuracy of employees and pay data
  • Compliance with the laws and regulations without failure
  • Timely payroll processing as the payroll is prepared and employees paid by agreed time-line
  • Data privacy and confidentiality is maintained

 

  • Filing of all quarterly and annual financial records
  • Filing of quarterly and annual finance reports
  • Depositing of withheld amounts with tax authorities
  • Management of retirement and savings plans

Payroll processing

Payroll processing is the procedure used while collecting wage information for all employees. W-4 form is used by businesses to document the workers filing status and allowances. Keeping track of all wages paid to employees is among the most vital; it helps in calculating the total wages at the end of every pay period. During payroll processing factors to consider are:

  • Deducts of retirement plan
  • Deducting taxes that are withheld from gross pay

The most important factors to consider, most business, outsource these services whether their businesses are small or big to settle the amount that employees are owed.

Payroll processing involves several steps for them to be effective, and this steps guides during the payroll process.

  • Employees should complete filling the w-4 form

This form helps in the documentation of all workers filing status. It is also used to count how much allowance every employee is entitled. This impact the amount to be paid as taxes that is withheld from wages.

  • Collecting all information for every pay period

Payroll information can be processed whenever it is required; this depends on when the payment is done, maybe daily, weekly or monthly. It doesn’t matter how often the employees are paid; it is important to gather all necessary record for easier computing of gross wage. This is just a few factors that are considered while processing payroll.

Payroll taxes

Payroll taxes are generated from employees’ salaries while computing payroll taxes businesses are advised to outsource companies that will help that are conversant with tax calculations. These taxes are not only owed to the state but also healthy schemes and retirement benefits. While working with an outsourced firm to process all pay rules, they will advise on what to deduct before taxation. Most states only the employer who pays for unemployment tax. This system, however, combines a federal unemployment tax system with a state program. It is important to note that outsourcing these services helps the business in avoiding too much hassle and assurance of accuracy.

Hiring a company to run all payroll services helps the company remain secure as all issues revolving around payroll are catered. Besides, they offer advice and confidentiality on the financial status of the company. Most companies prefer outsourcing for this services this is as the result of their professionalism. Most companies end up paying penalties for failing to pay taxes from payrolls, however with an outsourced company they always make sure that that everything is settled at the stipulated time as agreed.

With experience spanning 15 years, we are one of the most trusted payroll service providers in the country. Our vast expertise allows us to develop complete, accurate payroll solutions for small and medium size businesses. We offer customized payroll services that suit the unique needs of different clients. From check preparation to tax calculation, we serve as a one-stop source for all your payroll processing needs. We provide swift and cost-effective payroll services designed especially for your business. Save time and cost on payroll processing. Choose us for processing and managing your business payroll.

Call A&B Accounting and Business Solutions, LLC for a free consultation, and any questions you might have about our services. We offer our payroll services nationwide.

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