Payroll should be handled with precision and speed. Unfortunately, making sure your employees get paid correctly can be time-consuming. The good news is you can hire professional accountants to complete payroll services. If you’re ready to explore this option, here are a few items you can expect. 

What Payroll Services Can Do for Your Business

1. Employee Reports

Your accounting firm can integrate their payroll services with time-tracking software that allow employees to clock in and out. You can use this data to monitor the activity of your staff and track how certain patterns–such as overtime–may be costing your business.

2. Computer-Generated Checks

The most important aspect of payroll is to ensure your employees are paid correctly and on time. Using computer programs, accountants can generate clear and accurate checks to distribute to your team. They can also help set up direct deposit and online pay stub access to simplify the way your staff tracks their income.

3. Benefits Distribution

Payroll services are easily incorporated into existing benefit plans that your company may work with like 401(k)s, health savings accounts, and insurance plans. In addition to streamlining benefits distribution, accountants can also track how much certain incentives are affecting the company’s bottom line. This information may be extremely useful should you need to compare different retirement and health care plan options in the future.

4. Tax Calculation

To ensure your business tax return processes are completed in a stress-free manner, payroll services are used to make and track deductions appropriately. By calculating taxes, your accountant will keep your company compliant with current tax laws and make sure employees receive their tax forms in a timely fashion.

5. Legal Compliance

Federal and state payroll laws exist to make sure businesses are appropriately documenting employee activity and expenses. Knowing that these regulations can be robust and ever-changing, accountants will stay informed of the current laws to keep your business compliant.  

When payroll is creating problems in your business, turn to Michael C. Davis, CPA in Stow, OH. Equipped with the latest industry tools and a wealth of experience, this Certified Public Accountant delivers fast, precise, and efficient payroll services for all types of companies. In addition to payroll, Davis can also lend his expertise to simplify other areas of company finances, including tax return preparation and business consultation. Learn more about these services online or call (330) 376-1099 to schedule a meeting with this trusted accountant.