Payroll Provider & Technology Capabilities

Payroll technology and service providers can provide high ROI for companies in need of:

  • Payroll Processing & Tax Filing
  • Time & Labor Management
  • Mobile / Web Access
  • Paperless Employee Onboarding
  • Benefit Enrollment
  • Work Comp Pay As You Go

Payroll is Essential

Payroll is something an employer must get right to have any hope at creating a productive workforce and building a successful business. But if payroll is handled poorly and not taken seriously, the employees will likely find another employer to work for. Thus, paying employees accurately, on-time and providing supporting documentation (i.e. pay stubs, pay statements, W-2’s, etc.) is crucial to maintaining a company culture, retaining employees and reducing legal exposure for a business. Many employers seek a worthy payroll vendor to offload this burden and to make the process more efficient.

Who Can Benefit From Payroll

Payroll is a “core service” of the different service providers we represent, thus it is at the core of what PayThrive offers. It is the administrative hub of a business, where many other things revolve around it. For seasoned small business owners and administrators, payroll is often seen as a straightforward proposition that is fairly easily addressed with software and some fortunate in-house expertise (maybe their own expertise). But some businesses have a different reality when it comes to payroll – here are a few examples:

1. A newly formed or existing business has payroll for the first time. They want to know how payroll works and what is required of them.

2. A business used to have a simple payroll process, but now it’s complex. They have added employees, maybe ones in other states and maybe they now offer benefits.

3. A business had an in-house payroll expert that is now leaving – who will do the payroll? Expertise is not easy to replace in terms of another hire, and is not cheap either.

4. A business that had a CPA, accountant or bookkeeper doing payroll now needs to outsource it. People retire, change professions or in some cases choose to stop offering payroll to their clients.

5. A business that has an in-house payroll process has just been hit with tax penalties, fines and/or an audit. They want to be compliant with federal, state & local laws and realize that they now need help.

Typical Payroll Steps

Small business payroll has many steps – some occur with every cycle, some occur less frequently:

  • Employer gathers employee timesheet / timecard data, whether manually or using a timekeeping system
  • Employer confirms that all of the timesheet / timecard data is correct
  • Employer either imports or manually keys this data into payroll software or a web-based payroll platform
  • Employer notes exceptions for salary exempt or additional earnings for salary non-exempt / hourly employees
  • Employer notes exceptions relating to new or one-time deductions for one or more employees
  • Employer runs “preview” reports to confirm that the payroll will be correct and that sufficient funds are available
  • Employer submits the payroll to the vendor for processing
  • Taxes and deductions are then withheld
  • Employee paychecks & 1099 payments are generated as direct deposits, live checks, or both
  • A set of payroll reports is generated and provided to the client
  • Tax payments are remitted to taxing authorities, according to their required deposit frequency
  • Accompanying tax returns or payment vouchers are sent to the required taxing authorities
  • Quarterly & year-end reports are filed, copies are presented to the client
  • W-2’s are sent to the client for the employees, W-3 transmittal is sent to the Social Security Administration (SSA)
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Payroll: Related Tech & Services

Here are services and technology usually offered by a payroll service provider, usually on separate platforms / logins.

Payroll Services

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