It is important to have someone that is trained and certified in the day to day procedures, management, direction, and processing of payroll. A common misconception is payroll consist of only printing checks.
Maybe, you are asking yourself what is evolved in payroll?
Find A System Monitor
First, you have to find a system to monitor and track the time of your employees. You have to decide if that system will be electronic or manual. You know manual...you still enter your time into a printed timesheet. A more accurate choice would be electronic processing. Electronic processing involves the use of a time clock or a kiosk machine, and your employees can log in and out to track time.
Gather All Time Cards And/Or Electronic Entries
Second, gather all time cards or electronic entries and forward to manager, ect to verify the hours reported by the employee is correct. You will have to make corrections and changes if the hours taken are not correct.
You Need To Make All Calculations
Third, you will need a make all the calculations for pay, minimum wage, additional payments. Here is where you would need to apply the Federal and State labor laws. This means you will need to be abreast of the most recent laws.
Make All Deductions and Tax Calculations
Fourth, you will have to make all deductions and tax calculations. You will have to submit the payments once the payroll is complete. (You will also have to process the deductions and taxes according to Federal and State laws.)
If You Get This Far...Good! But There Is More
This is just the tail end of the process...I didn't mention setting up the employees in the system and maintaining employee information for personal and payroll, garnishment, deductions, insurance. Also learning the software and contacting various agencies. With all this in mind, who has the time??? You have a business to run and the operations and customer service should be your focus.
That's why B&P Accounting Solutions, Corp is here! We step in to help shield you from the rain of accounting, payroll and taxes. We handle the full processing from beginning to end. We maintain all employee information. We stay abreast of the latest payroll and tax laws. We make sure our employees participate in continuing education and earn certifications. The more we know the more you know!
Call us today to get started! 919-374-0678 or email