Payroll is an essential, yet complicated, part of running any business. While it may be time-consuming and stressful, it is crucial to keep your payroll process organized and correct for the sake of both your employees and your business.
Implement these 3 tips to simplify your payroll and stay on track:
1. Make Payroll Taxes Automated
Organizing payroll tax payments manually can result in error and consume more time than necessary. Automate payroll taxes to avoid accidentally missing taxes and running into legal issues.
You can automate payroll taxes through your payroll company or software, but remember to personally review these payments frequently. Technology issues may occur, and you may catch something that your software did not pick up on.
If you have any uncertainty about your automated tax payments, it is always a good idea to meet with a financial expert.
2. Document thoroughly and Protect your Records
Keeping records of your payroll is legally required in most cases. Make sure that your records are safe from data breaches, and always keep your data backed up.
It is highly recommended to keep data in both physical and digital formats, in the case that something should occur to one of these forms. Software and outsourced payroll experts can often provide assistance with reports and record maintenance.
3. Get Payroll Services through a Financial Expert
Your safest and best bet is to entrust your payroll process with a payroll expert. These advisors have the qualifications, time, and resources to keep your payroll as organized as possible.
At Matthews & Nulty, our payroll experts offer solutions including:
- Local, regional, and national payroll service options
- State and federal payroll tax filings
- Paying all payroll tax liabilities
- Direct deposit
- Expert payroll insight
- Management of your cash flow and accurate filing
- Extensive reporting
- Customized strategies
- Market analysis
Save yourself time and hassle with a simplified payroll process. If you’re ready to take your business functions to the next level, give us a call at 732-257-8604. We look forward to meeting with you!
