Payroll Services
As your payroll accountant, we can assist with various processing and compliance tasks to keep your business running smoothly. Here’s a closer look at how we can help:
Processing Payroll
At All Accounting Services & Taxes, we’ll calculate wages, deductions, and benefits to ensure employees receive the correct pay. We verify hours worked, overtime, bonuses, and commissions, then process payroll according to your company’s pay schedule.
Calculating and Withholding Taxes
Your payroll accountant will calculate payroll taxes, including federal, state, and local income tax withholdings, Social Security, Medicare, and other deductions like retirement contributions. Payroll accountants ensure these amounts are accurate and comply with tax laws.
Managing Employee Benefits and Deductions
We handle benefit-related deductions, such as health insurance premiums, retirement plan contributions, and other voluntary deductions. Our team will also ensure the proper application of garnishments or other court-ordered deductions.
Ensuring Compliance with Labor Laws
Our payroll accountants stay informed about federal and state labor laws, minimum wage regulations, and overtime rules. They ensure the payroll complies with these laws to avoid potential penalties or lawsuits.
Preparing Payroll Reports
They generate and analyze payroll reports, such as payroll summaries, tax reports, and expense breakdowns, which can be useful for management and financial reporting. These reports help companies monitor payroll expenses and ensure budget compliance.
Filing Payroll Taxes and Forms
We prepare and file required payroll tax documents, such as quarterly and annual tax returns (e.g., IRS Forms 941 and 940 in the U.S.). Also, we ensure taxes are remitted on time to avoid fines and penalties.
Reconciling Payroll Accounts
We reconcile payroll accounts by comparing payroll reports to general ledger entries, ensuring all payroll expenses are correctly accounted for. This process helps identify discrepancies and maintain accurate financial records.
Handling Payroll Inquiries
Our payroll accountants respond to employee questions about their pay, deductions, and tax withholdings. They help resolve any discrepancies or errors in a professional and timely manner.
Maintaining Payroll Records
Accurate record-keeping is crucial for compliance and audits. We maintain records of wages, tax filings, deductions, and adjustments, often in accordance with company policy and legal requirements.
Supporting Financial Audits
During internal or external audits, our payroll accountants provide documentation and answer questions related to payroll. They ensure your company is prepared for payroll-related audits by keeping well-organized records.
Payroll FAQs
We stay up-to-date with changes in payroll laws and regulations, including wage laws, overtime requirements, and tax codes. Our team ensures your payroll complies with all current laws to minimize risk.
Yes, we manage payroll for both salaried and hourly employees. Our team can also process payroll for contractors, freelancers, and seasonal workers, ensuring each category is handled according to applicable laws.
Pricing depends on factors like the number of employees, payroll frequency, and additional services. We offer competitive and transparent pricing and can provide a customized quote based on your specific needs.
We offer multiple options, including direct deposit, checks, or pay cards. Direct deposit is the most popular choice as it is fast, secure, and convenient for employees.
Yes, we provide an online portal where you can review payroll data, track expenses, view reports, and access employee records, giving you full visibility into your payroll.
Schedule a Consultation
Contact us today to learn more about outsourcing your payroll tasks to a local, trusted accountant.