Planning, correctly entering and then completing payroll compensations is a major factor in every business, regardless of the number of personnel. For most companies, payroll is their firm’s largest business expense. Therefore, it’s vital that payroll is being processed sufficiently by professionals with this exclusive capability.
It’s great that your company is growing and you are hiring more and more employees to your staff. With that comes the burden of payroll intricacies that can be time consuming. Moreover, for each hire you must compute their salary or wages, any bonuses or deductions, net pay and then collect tax withholdings, insurance premiums, and retirement plan contributions. Therefore, your business must keep these records to report to the government. However, with Flex HR’s services you do not need to be an expert in Wage & Hour compliance. We certify you are classifying employees correctly and in accordance with state and local laws.
There are so many properties that need to be managed when performing payroll. The components of payroll are complicated whereas taxes vary in each industry and by state. Calculating the federal, state and local taxes is a job in itself. Flex HR uses a methodical approach that’s cost effective to streamline all factors, keep you in compliance, and is completely secure. Most states require payroll taxes to be paid rapidly, in some cases 24 hours. In addition, there are thresholds of funding 401K contributions in a very timely manner. In summary, Flex HR keeps track of these various requirements, and ensures these payments are made in a timely matter.
Key Benefits of Payroll Services
- Manage and input payroll
- Administer and track paid time off
- Confidential secured information for all employees
- Electronic access with up-to-the-minute pay information
- Tax filings, new hire reports, 940/941, FUTA/SUTA, etc.
- 401K payments, match contributions and audits
- Benefit contributions, garnishments and direct deposits