Every entrepreneur who hires employees must deal with payroll. Unfortunately, payroll processing is quite time-consuming, and accuracy is of critical importance. Since hiring an in-house bookkeeper can be prohibitively expensive, many small business owners choose to outsource their payroll processing to a bookkeeping firm. At Precision, we specialize in payroll processing. We also guarantee accuracy.
Our Payroll Processing Services
The simplest definition of payroll processing is that it involves calculating wages and distributing paychecks. However, it’s actually far more complex than that. Payroll processing involves everything from maintaining employee tax forms to withholding payroll tax to correcting misclassifications of employees—and much more.
It isn’t easy for small business owners to handle their own payroll, which is why so many choose to outsource these tasks to Precision. Our payroll processing services include the following:
Payroll tax withholding and payments: We’ll ensure that you withhold the correct amount of taxes from your employees’ paychecks to cover federal, state, and local income taxes, as well as FICA taxes (Medicare and Social Security) and unemployment taxes. We also handle making tax payments to the appropriate agencies.
Employee tax forms: Precision will maintain your employees’ tax forms for you, ensuring they are accurate and up to date.
Payroll system audits: Automated payroll systems don’t always catch errors. We’ll thoroughly review your payroll to detect problems such as misclassified employees.
Employee exemption statuses: Exempt and non-exempt workers are paid differently. We’ll ensure your employees’ exemption statuses are correct and that your company is in full compliance with the Fair Labor Standards Act (FLSA).
Top Benefits of Hiring a Payroll Service
Did you know that failing to process payroll accurately might mean your company is in violation of federal or state regulations? Labor law violations are a nightmare for small business owners, but you can easily avoid them by hiring a professional bookkeeper. At Precision, our meticulous bookkeeper will ensure your payroll processing tasks are completed accurately every time.
Another benefit of hiring a payroll service is the amount of time it will free up. For a small business owner, there is never enough time in the day. However, by outsourcing your payroll processing, you’ll have more time to focus on other operational aspects of running a company.
Lastly, when you hire us to complete your payroll tasks for you, you can turn to our bookkeeper as a trusted source of information. Whether you have questions about changing your pay period, retaining important records, or tracking employee hours, we’re here to help.
Request Your Free Consultation
Let Precision take care of your employees so they can focus on taking care of your customers. In addition to payroll processing, we offer complete bookkeeping services and virtual assistant services. You can request a free phone consultation by contacting our office in Tucson at (520) 668-6537 or at info@bookswithprecision.com.