You can’t afford to mess up your payroll

Nov 1, 2019 | Bookkeeping

Just imagine. You’ve had a productive Friday morning. Everything is running on schedule. But just as you decide to take a break, a crowd of employees begins gathering outside your door. You can’t imagine why until you have a painful flashback. You didn’t finish working on the payroll.

Your employees probably won’t walk out in protest if you mess up your payroll. (At least not until they get their pay.) They might even smile and tell you it’s okay. But even after you resolve the problem, they’ll never let you forget it. In fact, they might begin a sarcastic, no-paycheck joke-telling tradition every Thursday… just to make sure it never happens again.

Of course, you’d see a similar backlash if you underpaid your employees, deducted too much in taxes, or issued their checks based on last year’s hourly wage.

You can’t afford to mess up your payroll

While you’re growing a small to medium-sized business, you might take on one too many tasks. If you mess up your payroll perhaps it shouldn’t be one of them.

Payday is all about giving your employees the money you owe them. It’s a simple exchange. They work hard and you give them money, but it’s far more complicated than that. Each employee’s paycheck reflects his personal and family circumstances. You must enter the relevant data to make sure you get the numbers right.

  • Name and social security number
  • Hourly pay rates or salary
  • FICA withholding
  • Federal, State, and city tax withholding
  • Employee benefits deductions such as life and health insurance
  • Incentive savings plan and retirement account contributions

Running your employee payroll is a complicated process involving a long list of important details. You can’t afford to mess up your payroll. If you do, not only will your employees be on your back, the IRS will too.

Step Away From the Payroll!

If Payroll Administrator is just one of your many duties, it’s time you stepped back and found a different way to handle it. Tracking and organizing payroll details is time-consuming but unavoidable. Mistakes happen when you include it in the hundred other duties you’ve taken on to save money.

Goode Bookkeeping and Consulting Can Help. We partner with leading companies to tailor automated payroll solutions for companies just like yours. We track and organize your employees’ payroll data and we make sure the rates and deductions are right. You and your employees can share can data entry responsibilities, or we can provide support so you can let it all go.

As with all of our services, we rely on a secure cloud environment to store and manage your critical data.

Contact Goode Bookkeeping & Consulting

To learn more about our time-saving payroll services, call us at (860) 968-2345 or complete our consultation form.

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