Bookkeeping NYC provides expert payroll services for NYC, Manhattan, NJ in Bergen County, Westchester County, Rockland County and Nassau County in Long Island. Our experienced bookkeepers can meet you at your business or provide payroll services by downloading your data to our secure location for more efficient processing.
Are you a small business owner currently paying a pricey fee to payroll service providers? More often than not, it is necessary to outsource payroll to a service provider because tracking employee time and calculating payroll and payroll tax liability can be complicated and time-consuming, not to mention how many people view completing tax forms as a tedious, painful process.
The time spent pulling your hair out trying to figure out payroll could be time spent driving in new business, right? These are common reasons why business choose the alternative and outsource payroll to a service professional. The extra expense on your monthly income statement is worth peace of mind of knowing your payroll and payroll taxes are accurately calculated. After all, no one wants to have to deal with the IRS if payroll taxes are calculated incorrectly.
We offer your business a perfect solution that can give you the best of both worlds - outsourced payroll at a lower rate when compared to other payroll service providers. We can include payroll to the other services we handle for your company, such as accounts receivable or accounts payable services or you can hire us strictly for payroll services.
Setting Up Employees
We can set up employees in your system if you haven't done so already. We'll need certain information from you to create the employee such as:
- Direct deposit information, if applicable
We're aware direct deposit is increasingly popular and many employees opt for the convenience of having their money in their bank account without having to make a trip to the bank. We're also aware there are some traditional folks who still prefer to receive a paper paycheck. Because of this, we offer your employees the option of receiving a printed paper check or having their paycheck deposited directly into their bank account.
Pay Rates and Other Payroll Items
Base Pay: Base pay consists of your employees' salary excluding additional payments or allowances. Base pay is calculated as an hourly rate or a base salary is agreed on at the beginning of employment. Tracking time and Payroll schedules sections below give more information on how we distinguish the two types of base pay when computing payroll.
Vacation and Sick Time: We'll set-up pay rates for vacation and sick time because all employees need some time off and will also get sick on occasion. Even if the pay rates for vacation and sick time are the same as their base pay rate, we will still create individual rates to ensure your payroll records accurately reflect the correct time allocation for each of your employees.
Payroll Items: Payroll items are additional items that are added or deducted from your employee's base salary and ultimately affect the calculation of their net (take home) pay. We'll set these items up for you and track and calculate them. Some common payroll items are listed below:
- Insurance benefits: If your employees have medical or dental benefits, we will include the amount paid for these benefits on their pay check.
- Retirement benefits: Common retirement benefits are 401K or IRA plans and if your employee has either of these plans, we will include these in our payroll calculation.
- Paid time off: As mentioned above, vacation and sick time will be tracked for each employee and there is the option to include the balances of vacation and sick time on employees' paychecks.
- If an employee is required to travel for work-related reasons or entertain clients to drive sales, we can include reimbursements due to the employee in their paycheck (commonly referred to as T&E reimbursement).
- If your employee(s) are required to drive as part of their daily job and are reimbursed for mileage, we will add the reimbursement to their paycheck (common addition for SalesForce).
- If a business need arises which requires an employee to receive a cash advance, we’ll include the money received in their upcoming paycheck
These additions are calculated separately to ensure posting to the correct general ledger account.
- Deductions: Though less common, we do offer the service of calculating any deductions necessary, the most common deduction being employee wage garnishment.
Tracking Time of Your Employees
Payroll Services Manhattan
Payroll Services Westchester County
Payroll Services Rockland County
Payroll Services Nassau County
Our Payroll Bookkeeping Services
Expert Bookkeeping Services that Keep You Current and in Balance!
"Having learned from experience, payroll is not something I ever wanted to get behind with again. While I don't have any issues paying the people that work so hard for me, the process requires too much of my time to do it accurately, efficiently, and stay caught up with withholding taxes.
Bookkeeping NYC was the answer to my prayers. I don't have to try and track down employees for their hours, nor do I have to sort through all my sticky notes of payroll adjustments in regard to sick days or vacation days. They handle the entire process for me.
And I never to worry about getting behind on my depositing my withholdings. Having my payroll professionally done was one of the smartest business decisions I ever made."
If your employees are paid hourly then let us handle tracking their time for you. We'll perform the input into our system on a weekly or bi-weekly basis, depending on how frequently your employees are paid. Simply send us your employees' timesheets however it is most convenient for you (i.e., scan into your computer and email them to us or send them by fax) and we'll take care of the rest. Entering employee time into our system allows us to provide more detailed reports to you.
Payroll schedules define in the system when to run payroll. We have the ability to create multiple payroll schedules for your company which is beneficial if you pay your employees on different schedules. For example, if you pay hourly employees weekly and salary employees bi-weekly then we can set-up two payroll schedules therefore eliminating the need for any manual adjustments.
For an additional fee, we can calculate the necessary withholdings your employees and you owe the various taxing authorities. We can prepare the required tax forms and submit payment to the taxing authorities on your behalf. As part of our service, we'll make the necessary journal entries to update the general ledger for payroll related liabilities and expenses. The weekly payroll expense will appear in your company's income statement and be reflected in your financial information.
As part of our service, we'll provide a payroll summary to you each time we run payroll to keep you informed of the amount of your payroll expense and allow you the opportunity to review and verify the accuracy of the information. We can also provide additional reports to facilitate your ability to review employees' productivity and these reports are briefly described below:
- Productivity reports are available for our clients whose employees' hours are billable. This report highlights which hours are billable verses which are not and also indicates how many hours have been billed.
- Job detail reports are available and list employees' work hours based on the various jobs your company is working on.
Please contact us for a free consultation and to answer any questions regarding how our payroll and bookkeeping services can help you manage and grow your business.
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