Brockton, Massachusetts is proudly known as the City of Champions. With its vast array of economic development and small business assistance programs, Brockton intends to live up to its name.
Does your small business have the go-getter mentality to match the city’s mindset? Managed payroll services could help you take your next steps toward excellence.
Data Entry Accuracy
Your payroll specialist is a vital component of your staff. Their skill for inputting employee information is important, but their requirements go beyond just knowing how to enter data. Your payroll professionals must take great care to ensure that each employee is appropriately compensated.
Logging an employee’s time brings with it a number of complexities, including regular and overtime hours, holiday or sick pay, and shift differentials. These difficulties are only enhanced when you consider withholdings and payroll taxes. Errors in entering this data could certainly affect a business, but it could also cost your employees their financial security.
How can small businesses avoid this pitfall? By using managed payroll services to work with a certified payroll specialist. Experienced payroll specialists carefully process your data to ensure that all employee time is in compliance with state and federal regulations.
Massachusetts, for example, has many detailed wage laws. Any violation of these can cost a company hundreds or thousands of dollars. A simple mistake in data entry could open your company to investigation and possibly fines.
Payroll Processing Services
Payroll companies for small businesses take away the hassle of collecting and managing employee wage information. The amount of money your employees take home from their paycheck will vastly differ from their gross wages depending on income taxes, deductions (like social security), and additional withholdings such as retirement plan contributions and health insurance premiums.
Calculating these factors into each individual employee’s net pay requires attention and knowledge. In fact, without payroll processing services, it’s easy to make mistakes such as withholding incorrect tax amounts or confusing pre-tax or post-tax earnings and deductions.
Unfortunately, this is just the start when it comes to errors in the world of payroll processing. Many small businesses fall victim to processing payroll late, overlooking payroll duties entirely, classifying workers incorrectly (W-2 employee vs. contractor), ignoring bank holidays, and much more. The detailed knowledge of a certified payroll professional is essential to getting the right information and protecting your business.
Online Payroll Software Management
Cloud-based systems like Commonwealth Payroll & HR’s iSolved provide simple and up-to-date access to every employee’s payroll information. Online payroll software allows any authorized user to access an employee’s files, input information, and make changes without waiting around for an administrative professional who is dealing with other essential tasks.
When you work with payroll professionals, the process is even easier. They can use the online system on behalf of your company, acting as your business’s personal payroll manager. You won’t have to spend time learning new software, training your staff, or troubleshooting technology issues. Simply call, fax, or email your employee payroll information and let managed payroll services take care of the processing and data management for you from start to finish.
Managed payroll services take the headache out of data entry, payroll processing, and working with online payroll software. Not only will this ensure your company is safe from costly errors (for both the business and your employees), it will also give you more time to focus on what really matters – your customers.
If you own a small business near Brockton, Massachusetts, then you know that your community leaders are doing everything they can to help you become a champion. To take your next steps toward excellence, call Commonwealth Payroll and HR toll-free at 877-245-1159 to speak to our payroll experts today.