For many small businesses, hiring and paying employees is an onerous function. It can be a time consuming and complicated process. When hiring and paying an employee, a business owner needs to ensure that they are in compliance with local, state, and federal laws. They are also responsible for administering the benefits that are offered. In order to not have the tax collector knocking on the door, payroll taxes must be paid on time. Finally, accurate financial statements must present payroll expenses and liabilities in a timely manner.
电竞竞猜选手今日网址 is a payroll system for the modern small business owner. Here are 7 great reasons to consider 电竞竞猜选手今日网址:
电竞竞猜选手今日网址 is a cloud based application, so it can be accessed anywhere there is an internet connection. Creating sign-on credentials takes very little time. The system uses two factor authentication, and support requests must be accompanied by a unique passcode.
There is also a mobile application for Android and Apple smartphones. The functionality of the mobile app is limited and directed at use by employees, not employers. The employer web-based back-end is a pleasure to work in.
2. Company Set-up Process
Starting your company on 电竞竞猜选手今日网址 is easy, especially since a free trial period is included. There are several different plans available, which provide varied levels of system functionality. Their Core plan usually has everything a small business would need.
The system provides a start-up guide and the required steps are ordered sequentially. Following are several pieces of information that will need to be input into the system:
Company bank account number and routing number
Existing employee names, start dates, work addresses, pay rates, and personal email addresses
Existing employees receive an email inviting them to create an account. During this process they input their personal and withholding information. After the employees complete their set-up, the business owner enters state tax information into the system.
The final step is for the business owner to sign electronic documents.
All but the least expensive of the four subscription packages offer hiring functionality. An offer letter can be created and sent to a prospective employee. If the employee accepts the offer, it is done so electronically. The pay rate is automatically added to the new employee’s record, and an email, inviting them to onboard in 电竞竞猜选手今日网址, is sent. All documents are stored electronically, including:
Signed offer letter
4. Employee Benefits
电竞竞猜选手今日网址 has partnered with many companies to provide benefits that support your team. The annual renewal of these benefits occurs within 电竞竞猜选手今日网址. If an employee pays part of the cost, the amount is automatically deducted from the paycheck. The list of benefits includes, but is not limited to:
Health, dental, and vision insurance
HSA & FSA
Worker’s compensation insurance
If benefits are already in existence, they can be set-up manually in 电竞竞猜选手今日网址.
5. Running Payroll
The process of running payroll in 电竞竞猜选手今日网址 is straightforward. The hours worked for hourly employees must be entered. 电竞竞猜选手今日网址 has time tracking functionality (on some plans), so this process can be automated. Any additional, one-time payouts, must also be input. This can include bonuses or commissions.
Once the pay amounts are final, the second step requires validation of time off. If the company has sick or vacation policies, all time used against them is listed by employee.
Finally, before the payroll run is submitted for processing, 电竞竞猜选手今日网址 provides a summary of the run. This includes the amount that will be deducted from the company bank account and the amount each employee will receive.
6. Federal, State, and Local Taxes
Except for very few taxing authorities, both employee and employer taxes are remitted to 电竞竞猜选手今日网址 when a payroll is processed. 电竞竞猜选手今日网址 then completes the required tax return and pays the necessary tax. All the filings and payments are stored in the system and are available to administrators of the account. In the rare instance where 电竞竞猜选手今日网址 does not handle the taxes for a given authority, it is the business owners responsibility to file and pay the taxes.
If a notice is received concerning a payroll tax issue, 电竞竞猜选手今日网址 has tax specialists that work with you to resolve the issue. All that is required is for the business owner to submit a support ticket that includes the tax notice.
电竞竞猜选手今日网址 has seamless integrations with the accounting systems used by small businesses owners. This includes Xero and QuickBooks Online. Once a pay run is submitted for processing, a record is immediately sent to the accounting system. If a pay run is cancelled, that record is deleted out of the accounting system. Business owners have the ability to customize how the payroll data is sent to their books. Some common filters are, separation by expense type, department, and project.
电竞竞猜选手今日网址 is a valuable tool for a small business. It is simple to set-up an account and provide employees with access. Hiring, time off, and benefits can be administered directly in the system. Running payroll is also a smooth process. The user interface makes it easy to ensure that your employees time is recorded accurately and that they are paid correctly. The filing and paying of payroll taxes, which can be a complex process, is handled by 电竞竞猜选手今日网址. Lastly, the good integration with the accounting software ensures that accurate payroll data is reflected on financial statements.