Payroll Services
The functions of payroll services are designed to handle all aspects of employee compensation and compliance. By handling these tasks, payroll services reduce administrative burdens for businesses while ensuring accurate and timely employee payments.
Compensation Management
Calculating and distributing employee wages, overtime, and bonuses.
Tax Withholding:
Deducting federal, state, and local taxes, including Social Security and Medicare.
Tax Filing
Submitting payroll taxes and filing returns to tax agencies on time.
Benefits Deductions
Managing deductions for health insurance, retirement plans, and other benefits.
Time and Attendance Integration
Utilizing employee attendance and time-tracking data for accurate pay calculations.
Direct Deposit Services
Processing electronic payments directly into employee bank accounts.
Compliance Management
Ensuring adherence to tax regulations and labor laws, avoiding potential penalties.
Reporting and Documentation
Generating payroll reports and preparing year-end tax documents like W-2s and 1099s.