| Payroll work is ideally suited for outsourcing. Cost-efficiency is achieved through continuous work with payroll. These tasks take up a lot of your resources which will be freed for more profitable production. Accurate payroll work... |
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| Payroll work is ideally suited for outsourcing. Cost-efficiency is achieved through continuous work with payroll. These tasks take up a lot of your resources which will be freed for more profitable production. Accurate payroll work... |
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Bookkeepers Plus of Long Island performing payroll services to companies
In other words, payroll needs to be done correctly and within a set deadline every time... and if you achieve that then nobody thanks you... ...which in itself is thanks enough as, not surprisingly, any mistakes are quickly noticed by employees. The nature of payroll makes it the ideal candidate for outsourcing. Why take the risk of mistakes onto yourself? In fact, why take the BLAME for any mistakes either? The fact is that outsourcing payroll will ensure the tasks are carried out by top professionals using the latest software and utilizing their huge experience in the process... so mistakes are rare and the cost is set no matter how long the work takes. An accounting professional can perform these duties accurately but if you outsource the function, you will not only save on cost but relieve yourself (and your team members) of a lot of unnecessary headaches as well. Payroll involves these functions:
Calculating the pay of each employee from time cards or other sources
Of course, it is equally important to avoid overpayment by mistake to any employee. Accuracy is the key here and it usually requires quite a bit of experience and professionalism to be able to do payroll calculations quickly yet correctly. We also calculate commissions and other non-hourly compensations as required for your payroll. Accuracy and experience form the foundations of quality payroll service. It cannot be overstated how much experience benefits the speed and correctness (and, hence, cost-efficiency) of payroll calculations. This is where the cost-cutting benefit comes in favor of outsourcing payroll functions. The job is done by someone who does payroll continuously and thus has developed the required speed and accuracy to perform the work at low cost.
Executing the payment of salaries
Alternately, dependent on your preferences, the payment could also be made through direct deposits. Equally, payroll can include payments to your subcontractors directly into their bank account or by check. The payment part doesn't sound like much perhaps but it does require quite a bit of time over say one year... time you can be using more beneficially with the core activities of your business.
Preparing all quarterly & yearly Payroll Tax Returns
Similarly, we will collect all required payroll forms such as I-9 "Employment Eligibility Verification" (legal to work in the US) , and "Withholding Tax Form-W-4". We will prepare year-end employee earnings form for tax purposes (a W-2). Furthermore, we will report all wages and taxes to the government either electronically or by paper forms — as per your preferences — and record all wages and taxes on the books. If you are using QuickBooks we can download the wages and taxes directly to your books.
Keeping track of other payments & reimbursement of expenses
We would also take care of reimbursing your employees for any expenses they've laid out of their pocket and track (and verify) those expenses to be factual and valid. We would make sure that your employees turn in their receipts and that those expenses were legitimate. Any abuse of expense accounts would be reported to you directly. Furthermore, due to our years of experience in performing these expense verifications, our knowledge covers all manner of misappropriation of company expense accounts, so the filter for such abuses would be tighter.
Timekeeping
Time is money when it comes to minutes and hours you pay for. Additionally we would tally time from time cards, enter into QuickBooks, Peachtree or other software, thus associating employee-time with job costs.
Benefits of outsourcing payroll to Bookkeepers Plus Inc.
The payroll service of Bookkeepers Plus is geared towards small businesses. I personally guarantee that our service is very flexible — and definitely more accommodating than the larger payroll services. We handle requests in a time frame the big services simply cannot facilitate. Please remember that outsourcing your payroll to us does NOT require you to change your accountant or CPA. Payroll functions can be a nightmare for anyone lacking in resources or support for the latest data. Equally, fraud detection requires experience on the many WAYS an employee could abuse their expense accounts. Relieving your company from payroll functions frees up space and even time, for payroll done in-house usually involves other people as questions are asked and so on... so none of this comes on your lines any longer. Cost-efficiency
is an important consideration also, of course. Accounting professionals
with extensive experience can handle your payroll at a competitive
price AND you receive the added security of their knowhow as
a free bonus!
Contact Bookkeepers Plus Inc. to hear what we could do for you
You can contact me directly or, if you're convinced that outsourcing might be the solution, use our quote form to receive an estimate of cost and benefits of outsourcing your payroll functions to us. Finally, if you have a specific problem with payroll or any other aspect of financial control, why not give us a challenge and receive free advice on how we would solve the problem? Thank you for your interest, and please remember we offer a free Outsourcing Report to business owners in Long Island and New York.
Best wishes, Elizabeth Marasco,
MBA |
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| — Outsourcing articles & services — | |||||||||||||||||||
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Outsourcing Report Subscribe to this free report on the benefits of outsourcing back office functions and you'll learn how to lower risks while concentrating more on those activities that produce profit! |
Comparing outsourcing with in-house solutions
Read which activities benefit from outsourcing and what to look out for in outsourced solutions. |
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Outsourced bookkeeping
If so, read this article about outsourcing your bookkeeping and what that can bring you in terms of benefits... |
Give Bookkeepers Plus a challenge! An easy way for business owners to get first-hand experience on our services. Give us a challenge and we'll tell you how we would solve it... free! Give us a challenge involving outsourcing of accounting services... |
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Learn how easily one can make mistake in the setup of QuickBooks — and how simple it is to fix these in your accounting software! Use an expert's help in training & support for your QuickBooks accounting software and procedures. |
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| Different functions of bookkeeping — read to see what you can benefit: | ||
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Billing & Accounts Receivable Explained in understandable form what is included in accounts receivable and what you need to look out for in this area. |
Accounts Payable & Cashflow / credit What functions are included and how do these influence your finances and credit rating — and how do you speed up the cashflow? Learn the importance of accuracy in accounts payable for your activity! |
Purchasing & Inventory -controlling cost Keeping accurate record on purchasing and inventory allows for optimizing of your stock and investment while minimizing downtime. Read what outsourcing the purchasing & inventory functions can benefit you! |
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Banking routines This area of bookkeeping frees up a lot of your time while ensuring your funds arrive promptly and securely. Read what benefits you receive by outsourcing the banking duties to an accounting professional. |
Cash Management How would you like to be free from constant worry and checking of your cashflow and receive some control and prediction to finances? How cash management can increase your financial control and prediction. |
Payroll outsourcing Calculating salaries is the most time-consuming of all activities. Outsourcing your payroll you gain accuracy at lower cost than handling it in-house. |
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Financial Management Reporting The absolute jewel of services, ensuring that you gradually gain full control over financial planning in your company. Management Reporting teaches you to plan finances hands-on with accuracy and profits! |
Project Accounting An essential service if you have larger jobs or projects coming up which you want to keep under tight financial control. Quality service giving greater financial control. Project Accounting - how to keep the budget and finances of any larger job or project under control! |
Taxes and preparing books for your CPA Why not save some 50% off this part of your accounting by letting our bookkeepers prepare taxes and books for your accountant / CPA? Save money and headaches by... ...outsourcing tax work and preparation of books for accountant's review. |
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Useful articles for LI business owners This page contains articles by Elizabeth Marasco on various subjects relating to taxation, finance, accounting, bookkeeping and other important issues. Read Elizabeth Marasco's articles on taxation and accounting in Long Island and New York |
Bookkeepers Plus Virtual Assistant Don't need a full-time secretary or can't afford one? Then the solution is the Bookkeepers Plus Virtual Assistant - you pay only for the work we performed at the quality requested! Bookkeepers Plus Virtual Assistant - secretarial work without the cost. |
Human Resources Outsource the tasks involved in Human Resources: Workers Comp, insurance, retirement plans, leave maintenance, recruitment, personnel policies, resolving disputes, etc. and save money and time! Human Resources support services: Workers Comp, Retirement Plans, Recruitment, disputes... |
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Other Credits and Collections actions These tasks are not very spectacular if done accurately and correct. But if you forget then many unnecessary problems can arise from... ...Petty Cash , Employee Reimbursements, Business Expenses, and Vehicle Mileage tracking |
Bookkeepers Plus Office Software Application Training Read how businesses throw away thousands of dollars monthly... and how you can make sure you don't... and secure it for free! Bookkeepers Plus Office Software Application Training & Consulting |
Sales Tax Keeping accurate record on your sales tax and filing in time is not exciting and thus it suits outsourcing well. Save money while avoiding all problems due to delays or mistakes... See the savings and benefits available from outsourcing your sales tax routines! |
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Getting the most out of your QuickBooks? Participate in this survey to find out! Want to see if you are receiving the true benefits from your QuickBooks software... or check if it could help you more than currently? Take this online survey on QuickBooks to find out... and receive a free initial phone consultation! |
About Bookkeepers Plus Inc. Introducing Bookeepers Plus Inc. — the outsourcing expert for businesses in Long Island NY. |
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Payroll is one of those
functions which involve a lot of detail, accuracy, inspection
and even changing elements... all building up to a tedious task
whose MISTAKES are quickly found but which receives no applause
when performed correctly.
This can sometimes be
time-consuming but the important thing is to be accurate so that
your employees won't be upset by some part of their salary being
forgotten.
Payroll includes the actions of printing
checks & distributing these to your employees.
Payroll includes
the preparation of quarterly and yearly tax returns. Equally,
we keep track on all payroll taxes, ensuring that these are paid
on time.
Another aspect of payroll
functions involves keeping track of payments to subcontractors
and other non-employees — whatever their status and connection
with your company — and then reporting their earnings to
the government (Form 1099 reporting).
We
can also assist in timekeeping, such as Recommend, setup and
maintain timekeeping systems from simple time cards to electronic
systems integrated into your QuickBooks.
Perhaps the biggest
benefit of outsourcing your payroll to us involves the cost-efficiency
and accuracy of the work due to our experience and training in
these matters.
Payroll
is just one part of our quality services which our back office
outsourcing solutions offer businesses in Long Island and New
York.
What
do you stand to GAIN by outsourcing select back office activities...
and how do you know which ones to outsource and which not? This
interesting article explains the pros and cons of outsourcing
and offers a make-sense tool for finding the activities whose
outsourcing brings the biggest profits and benefits.
Want
more accurate bookkeeping with timely delivery and without any
problems brought to you about it?