Whether your business operates on a large scale or small scale, payroll services are necessary for every business to succeed. Every business has a payroll function, absent one-owner sole proprietorships, that require experience as an accountant to manage various financial tasks. For a small Phoenix business that has employees, proper payroll & HR systems must be put in place to ensure proper and smooth running of the business. Every employee needs to be satisfied in terms of payments, benefits, and tax withholding charges. They should understand how taxes are deducted from their salary and if they are eligible for overtime. That is why; a person with limited knowledge cannot manage payroll tasks, in fact many CPA firms do not offer payroll as it is considered dirty work. This article gives basic information on how to comply with keeping payroll and ensuring employees are properly paid along with the relevant taxing agencies.

Encountering delays and errors on wage payment is one certain way of de- motivating and eventually losing employees, so don’t make this mistake. To ensure that employees are satisfied, make payments on time and without committing errors. It becomes necessary to either use online payroll services or choose experienced accountant. It is important to note online services are faster and easier to use. On the other hand, selecting a good account is of paramount importance as this person will manage multi-tasks such as auditing and filing required paperwork with various governmental agencies.

Another critical factor is the processing window for payroll. It is imperative that the process from the time you begin reviewing timecards, posting hours into the payroll software, reviewing check stubs, adding new employees, changing banking information, and cutting checks is adequate and includes extra time in the event you encounter problems. It is wise to give yourself and the firm you choose an additional 2 to 3 business days of slack in this process in the event someone is sick, vacations, software problems, and the like.

There are numerous advantages of outsourcing payroll to a qualified Phoenix accounting firm. The first advantage is that it reduces calculation and filing errors and improves compliance with local statutes. Secondly, they save time and your ability as a business owner to take vacation and know that your payroll is being completed on-time and your employees will not be paid late.

If the business opts to look for a qualified accountant to carry out this work, there are many factors to be considered. Check to see if they are licensed and in-good standing with their state’s board of accountancy. The candidate must be licensed. Another important factor is experience. It is critical to ensure that the candidate has extensive experience in the payroll function. Many CPA firms refuse to do payroll as they do not have the experienced personnel any longer to offer this service.

Equally, a business can opt to hire a payroll company to manage this task. By outsourcing the payroll to a reputable company allows the small business owner time to focus on other areas such as production, selling, and marketing, to name a few.

In summary, there are many online companies designed to provide the payroll function to both small to large sized firms. In addition, some of these same companies offer advice to firms on how to solve accounting and tax issues. These are generally CPA firms with a robust amount of knowledge and experience in all aspects from financial planning, tax preparation, accounting and most importantly, payroll. It is usually wise to keep all these functions under one roof as the small business owner can be assured that their provider is managing them from a holistic view point.
Payroll is the lifeblood of any growing business. It is fundamental to the success of your small business but if you do it poorly there are dire consequences. It is wise to consider outsourcing this to a firm that has the knowledge and expertise to do it right and on-time each and every pay period.

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