Payroll Control In Four Steps

A business is a complicated machine. Everybody wants theirs to run as smoothly as possible, but in order to do that, there are dozens of processes, services, and departments to improve for best results. After all, a chain is only as good as its weakest link, and making a better chain comes down strengthening or removing those links.

Which brings us, neatly, to today’s topic: payroll processing systems and how you can improve on yours. Because, if you’re looking for ways to create a better workplace, everybody enjoys getting paid on time.

Looking to make 2019 a better year for your payroll control and HR processes? Consider out our four steps to improving the way you do things, and get ready to streamline your operation.

Be Less Involved

The first step in streamlining any process is taking out a step or two. Human resource solutions do their best work when they consolidate and simplify our office processes. Take some time out in 2019 to invest in professional payroll services and take yourself out of the equation.

Expand

Growth is a natural part of every business. As you expand, whether that be across states or just into a larger office, you’ll need to know how to expand your payroll process as well. Make sure you have the backing and understanding of your payroll process you need to scale it along with your business.

Learn

The best way to improve your payroll process is to learn. Work and keep yourself open to new information, and you’ll add to your expertise. There’s a lot to soak in in the world of HR, from the specific payroll tax laws of each state to new regulations on a state level.

Another facet of this is in learning what you don’t know, or what you’re not up to learning how to do. There are processes where you’ll likely be better off reaching out an expert for, with third-party payroll solutions freeing up precious resources within your office.

Get Out Of A Bad Payroll Relationship

If you’re not working with an effective payroll system, you owe it to yourself to make a change. Use reviews, research, and an initial interview to find a payroll service provider you trust. If you can change services and the outcome is a better payroll process, you should do it.

Payroll processing is a central pillar in any business worth its employees’ time. If you’re not putting through salary payments on time or reliably, you’re not doing right by your employees and you’re not doing your longevity any favors, either.

Payroll Control At Vision HR

For payroll processing from one of the leading names in the industry, visit Vision HR today and discover the payroll control services you’ve been looking for.

Payroll in Daytona Beach – Software Or Service?

The payroll process is pretty central to the operation of any business. It doesn’t matter what industry you’re in, you’ve got to process salaries reliably every month.

Of course, there are many ways to skin a cat. Businesses streamlining their payroll process may choose to use software and training to handle it onsite. Others may take the operation offsite, handing it over to a professional service provider.

Learn about the pros and cons of payroll in Daytona Beach, today, with Vision HR.

Payroll Software

Companies looking to handle their payroll operations in-house will sometimes opt for a payroll software package. This internalizing can be beneficial in a few different ways, from speeding along certain processes that you may have to wait for otherwise to having data on hand.

You’ll have access to your system in order to make changes more quickly. Managers can use the software in the ways they best see fit and cut down on their turnaround time for modifications.

Businesses don’t have to worry about third parties handling their private information. They provide quick access to data when it’s needed, even via mobile devices in many cases.

Of course, it’s not all sunshine and roses when it comes to integrated platforms.

The Cons

Firstly, there’s a reason most people choose to use software or a payroll service, and that’s because they want more time to spend on business instead of payroll. The learning curve on a piece of payroll software means you’ll spend quite a bit of time training yourself and your staff members to use it.

There’s also the question of human error. See, when you bring in something to do it in-house, all of the responsibility for that service suddenly becomes yours.  Internal users may end up missing out on certain services and requirements may end up missing specific inputs or requirements. A big bonus to bringing in a service provider, in this case, is that they take on the responsibility for these issues. And, it should go without saying, they also know how best to respond when worse comes to worst.

Using Payroll Services

When companies decide on a more hands-off payroll process, they bring in third-party agencies, like those on offer from Vision HR. These companies take over all aspects of payroll processing, making sure your workforce finances are kept in order.

It’s an easy service to use, with all of the processes that would take you hours every month to do on your own happening “behind the scenes”, now. The details are available for follow-ups, but the process is largely automated, freeing up managers to focus on their operation.

Professional services also mean that you’ll have real assistance on hand, whenever you need it. While user help files may be sophisticated, none of them can give you the targeted, unique help you’re likely to need. When using a service, you get more assistance faster than with a software package.

The Question Of Cost

When it comes to payroll processing, one of the biggest concerns many have is their budget. Whether you buy software or hire an agency to carry the workload, there’s a certain amount you’ll need to invest.

Companies may choose to use subscription models for affordable access to payroll software. Others may try for something similar with an agency, where a bundle package is used.

In an industry where payroll services will always come with certain budgetary requirements, however, the question really comes down to what you get for your money. And when it comes to personable services you can enjoy whenever you need them, nothing beats a payroll service.

And there’s always the option of hiring an outside name to design your payroll software setup.

Payroll in Daytona Beach

For expert payroll in Daytona Beach, visit Vision HR today and find out more about how we can help streamline your pay process.

Easy Access to Employee Payroll Data For Your Ormond Beach Company

When it comes to running a successful business, there are a few investments you just have to make for best results. You’ll need an office, and in that office, you’re going to need some stationary. If you have to make phone calls, you’re going to need phones, and if you’re going to make deliveries, you’re going to need a car.

And, when it comes to your Ormond Beach payroll department, this is equally true. It’s a living part of your business, with a lot of benefits to you and your staff members. But what is payroll data, what does it show you, and what are the benefits of having access to it?

Join Vision HR today, for a closer look.

What Is Your Payroll?

A company’s payroll is a complete list of its employees, the amount of money you’re paying them, and withheld taxes. In terms of accounting, this is essential because pay and taxes affect our net income, and also because businesses are subject to laws and regulations.

From the point of view of HR, the payroll process not only helps employees maintain their lives, it’s actually central to it. After all, any disruption of someone’s regularly planned income can mean missed deadlines, deferred bills, and other delays. It’s a sensitive issue to them, which makes it important to you because employee morale requires timely and accurate payments.

Employees should be paid correctly each month, with proper withholdings and deductions made within tax regulations. Let’s learn a little more about why.

Why Is It Important?

Ormond Beach Payroll: A Complex Issue

As companies grow, their payroll processes become more complex. Managing your records and staying within tax regulation standards is a heady process, and one that you can easily lose track of.

Businesses need access to meaningful payroll data that accurately reflects the situation with their payroll. This will keep them on the straight and narrow with their employees as well as influencing business decisions.

This data also helps to ensure your pay processes don’t turn around and bite you later on, as they help you stay within regulations. Payroll data is central to the successful operation of any company.

Paychecks Are (Obviously) Important

In the makeup of any company, payroll is by far the biggest expense. How big? How about 68% of your total overhead? More than twice as big an expense as employee benefits, payroll affects your relationship with your staffers and with the law.

40% of workers report that they depend on their regular income. These employees confirmed they would find it difficult to meet their own financial obligations with a delay of as little as even one week. Not only that but millions of file for billions in civil penalties every year over pay disputes.

Ormond Beach Payroll With Vision HR

Vision HR’s services offer businesses the data they need to be able to maintain and expand on their payroll processes. Whether integrating with existing HR offices or providing this service as a complete package, our solutions streamline the way you do business.

For expert payroll services and insightful access to your Ormond Beach payroll data, visit Ormond Beach’s foremost payroll services provider, Vision HR, today!

Why Your Business Needs A Quality Payroll Service

Payroll is one of those crucial hinges in the doorway of your company. Without a purposeful plan in place, your staffers won’t receive their payments on time each month. And an unhappy staff is an unproductive staff.

Still, it can be a mountain to climb on your own. Payroll processing can rob you of precious minutes and hours from your day as you check payments back and forth. And everything relies on you – even if you get payments out on time, if there’s a mishap with someone’s overtime or a miscalculation of taxes, you’re responsible. Which, when you’ve already got the weight of an entire business resting on you, can be a bit more than some managers signed up for.

Join us today, as we examine the role of a payroll service in your business, and why it’s absolutely crucial for an efficient operation. No matter the size of your business, making payments on time is a favor you do yourself, and the least you can do for your staff.

Save Time

Every company is different, but an issue at the heart of every business is time management. Being able to use the hours in your day effectively makes you better at your job, but it also leaves room to address new issues as they come up. And, as any business owner will tell you, they tend to come up a lot.

Companies spend too much processing payroll and taxes every month. That’s not your job (unless you’re a payroll company, in which case this blog probably isn’t for you). You need a solution that separates you from this task, which can sometimes eat hours out of your monthly schedule.

This is why payroll services are so important. By removing the task entirely from your purview, you reduce the amount of time spent on administration, boosting productivity. And, with a professional in your corner handling the process for you, you won’t waste much spend much time double checking the process either.

Generate Reports

With a dependable payroll system in your corner, another great benefit comes with custom reporting. Every thriving business is built on a thorough understanding of how the business operates. This is equally true for payroll services.

Generate payroll reports to give you the raw data you need to make informed decisions about compensation. In companies with a notable employee turnover, for example, pay data can highlight problems before and help to turn the situation around.

Remember: information is your biggest weapon in business. With pay reports from an expert payroll service, you’ll have all the data you’ll ever need.

Simplify and Reduce Errors

Just because you employee a full staff of workers doesn’t mean you were born to crunch the numbers on their monthly payrolls. It’s a complicated process, and the line between being a good business who pays fairly and somewhere where the numbers run rampant is a fine one.

A comprehensive payroll service makes everyone’s lives easier, in this regard. Set up and process employees’ paychecks ahead of time, simplifying the process through automation. A professional services process calculates your taxes and deductions, guarantees payment amounts, and clears out administrative bottlenecks.

Remember: human error is more common than you might think. Even if you have “a system” or a head for math, the truth is we all slip up. Accounting for overtime, benefits, and tax withholdings is complicated, and anybody could slip up on it. The biggest downside to this is that fixing mistakes is often time-consuming and (even more often) stressful. Payroll services help to prevent these errors ahead of time.

Are you interested in high-end payroll service from one of Florida’s most trusted names in the industry? Get in touch with Vision H.R. today to find out more about our professional work portfolio.

What are the Benefits of Outsourcing Payroll ?

 

Benefits of Outsourcing Payroll ?

Why should I or what are the benefits of outsourcing payroll ?  Skip Lilly, Sales and Marketing Manager from Vision HR. Inc, a payroll processing and Human Resources company explains.  After working with business owners for nearly 2 decades over the decision of whether to outsource payroll or keep doing it themselves, I have come to these 10 key factors why businesses decide to outsource payroll.

1.  Time Savings / Productivity

Payroll processing inside your business is a time-consuming process. Keeping track of benefit deductions, garnishments, new hires and terminations, paid time off as well as federal and state regulation changes can be frustrating tasks. Each year significant labor hours are spent preparing W2s and ensuring that they are sent out timely. Outsourcing payroll allows employers to concentrate on their core business and frees up the business owner, human resources or accounting personnel to work more on strategic tasks that could ultimately affect your bottom line. Regardless of the number of people employed by your business, attending to payroll demands a great deal of time and attention to detail. Pay period follows pay period, requiring the business owner to input critical amounts of data and double-checking for any keying errors- time taken away from tasks a small business owner must attend to.      (Like Customer Service)  Those repetitive tasks should not be hours taken away from a key management or owner’s daily productivity.  Outsourcing payroll immediately frees up precious time. Employers only need to make contact with their outsourced payroll specialist by approving time once each pay period.

2.  Reduce costs

The direct costs of processing payroll can be greatly reduced by working with a payroll provider. Big businesses can afford to maintain robust payroll departments. However, Small/medium sized businesses, having an in-house payroll process is a money burner. If your business has fewer than 30 employees, there’s a very good chance that you can save money by outsourcing your payroll operations. Do the math. Figure out how many labor hours your employees are devoting to payroll-related activities, (Calculating payroll each time period, printing, signing, and distributing paychecks or pay stubs, computer software and program maintenance, training and support, keeping up with changes in tax rates/laws, preparing and remitting payroll taxes and returns to government agencies, w-2’s, garnishments, new hire reporting, generating reports for in-house and accountant use) calculate how much you’re spending and compare the amount to the plans offered by several payroll-services providers. You’ll probably be surprised by the result. When you consider the cost of an employee’s wages, then add in benefits, that can really add up quickly. If you are the owner of a small to medium size company and you are trying to do payroll yourself or inhouse, the cost of the time spent is even greater. If you outsource payroll, you don’t have to worry about your payroll processing company calling in sick, resigning, wanting to take a vacation OR wanting to request a possible maternity leave that you have to pay for. There’s also the matter of confidentiality when it comes to payroll. If an employee wants to “share” how much a fellow employee is making that can cause extreme drama in the workplace. A common response from several clients is, “It is much more efficient than if I asked my
bookkeeper to handle it, or if I tried to handle it myself.”  Most accountants will also tell a business owner to outsource payroll.  Many of my referrals come from accountants who have just recommended the benefits of outsourcing payroll to their clients.

3.  Avoid IRS penalties / Mistakes

The IRS states, 40 percent of small businesses pay an average penalty of $845 per year for late or incorrect filings and payments. Penalties for errors, omissions or late payroll tax filings can be very costly. Payroll mistakes are painful, angering employees and not reporting timely or accurately to the government post red flags to the IRS. Small business owners aren’t experts in the challenging world of government tax regulations. At the same time, they are legally responsible for any cases of misrepresentation or a failure to accurately report employment taxes to federal and state government agencies. Mistakes lead to audits and penalties—situations no business wants or needs. Government rules and regulations are always changing and business owners can’t be expected to stay on top of these changes. Professional payroll providers, on the other hand, must stay current with rules, regulations and changes in tax rates. A good payroll-services provider is far less likely to make a serious error than your in-house staff.  Many outsourced payroll providers calculate payroll taxes, manage filings and payments and will assume the cost of penalties due to incorrect calculations or late payments so long as you provide the necessary information and funds on time. Keeping abreast of state, federal, local and industry-specific regulation changes can be at best a real challenge. A reputable outsourced payroll provider has a staff dedicated to keeping up to date on all of the changes that could affect your payroll, ensuring that you stay in compliance.

4. Team of Experts

Most business owners and payroll related staff don’t have time to research and study constantly changing regulations, withholding rates, and government forms. By outsourcing payroll, a small business can take advantage of expertise that was previously available only to big companies.  The most valuable payroll companies have a team of experts who handle many areas of Human Resources and Payroll.  Some of those would be a benefits department that would handle the administration of benefits and deductions in the payroll system, workers compensation experts, who would administer the changing of class codes should a job change for an employee, human resource experts who would help in employee issues and HR strategy. Also, if your payroll service has the ability to offer a 401k plan, that is an added benefits as those transactions are also involved in the payroll administration.   Make sure you engage a qualified team of experts who can administer all the aspects of your HR and payroll needs.

5. Enhanced Security

Payroll processing is a complex and potentially risky business operation. Even with long time trusted employees, there is always a risk of identity theft, embezzlement of funds, or tampering with company files for personal gain. There’s also an evident risk when using in-house payroll software: How safe and secure is payroll data on the company’s server or network? This very real question can consume a business owner’s energy and attention as well. Do you have the time and energy to closely supervise your business’s payroll for time and rate abuses and other unethical activities? Most payroll services have technologies that can spot and alert clients to various types of payroll fraud. Additionally, online payroll solutions offer a “safe haven” for your confidential payroll data. In addition to redundant backup and multiple server locations, a quality payroll provider invests in state-of-the-art systems for storing and protecting data, simply because it’s part of the service provided to clients.

6. Employee Access / Gaining a Human Resource Information system(HRIS System)

Human Resource Information Systems (HRIS) have become one of the most important tools for many businesses. Even the small, 20-person office needs to realize the benefits of using HRIS to be more efficient. Many firms do not realize how much time and money they are wasting on manual human resource management tasks until they sit down and inventory their time.  It allows companies to cut costs and offer more information to employees in a faster and more efficient way. Below are some examples of how employers and employees gain access to HR Information:

Employers Gain ability to:

• View Invoices and Payroll Reports
• Access and Update Employee Information
•   Enter New Employees
•  Enter Time Reporting Information
•  Offer Benefit Open Enrollment
• Communicate with Employees
•  Create Custom Reports
• Track PTO ( Paid Time Off)
• Upload Benefits Plans and Custom Benefits Documents
•  Upload Employee Handbooks and other HR PDF’s
•  Track Licenses / Certifications for Employees
•  Performance Reviews
• Training Records
• Total Compensation Reports

Employees gain access to :

•  Review Checks
• Review Benefit Information
• Update Information
• Any Corporate Documents
• Online Benefits Enrollment

 

Using the right payroll company with an HRIS system allows small to medium sized business access to this platform without having the expense of buying and maintaining it, another large company benefit of outsourcing payroll.

7. Avoid Technology Advancement costs

A constant question for small business owners is whether they have the latest version of their payroll software and the most recent tax tables installed on their computer. Using the wrong tax tables can result in stiff penalties. Paying a maintenance fee and having to upgrade software is a fixed cost ongoing.  Outsourcing payroll removes those costs / headaches and keeps payroll running smoothly.

8. Losing payroll expertise

Multi- tasking payroll responsibilities with an overworked office manager or accounting employee,  depending on a relative or spouse to run payroll,  whatever the situation, every business with in-house payroll runs the risk of receiving notice that your payroll person is taking an extended vacation, FMLA, fell ill, took another job or not able to do payroll.   If your bookkeeper or controller gets a new job, they will walk out the door with their knowledge of the payroll process and how you do it. Outsourcing your payroll will assure retaining the knowledge of all the ins and outs of payroll-related tax laws and regulatory mandates on the federal, state and local levels.  It’s what payroll companies and experts are trained to do and part of the guaranteed service provided. Savings in time and money, greater data security and the comfort of knowing experts are handling your payroll functions are compelling reasons to explore the benefits of outsourcing. Your staff could try to achieve the same level of understanding, but it would take a large investment in time and effort. It’s what they’re trained to do and part of the guaranteed service they provide. With a payroll service, output speed and quality won’t vary in accordance with vacations and illnesses. You also won’t have to spend time helping new hires understand your business’s payroll system. If you experience turnover or inability to work for periods of time in your payroll area of your business, outsourcing payroll provides a framework to be able to train an employee to report hours and communicate the payroll data without experiencing the pain of a missing skillset of an expensive in house payroll professional. This one of the key benefits of outsourcing payroll.

9. Offer Direct Deposit

Providing direct deposit to employees is difficult if a company doesn’t use an outside payroll service. Increasingly, small businesses recognize that employees want direct deposit. Not having to make a trip to the bank is an important convenience for them. More importantly for business owners, direct deposit eliminates time-consuming and error-prone paper handling and the need to reconcile individual payroll checks every month. Using direct deposit reduces the risk of fraud by eliminating the use of paper checks that could be altered or counterfeited. Unlike a paper check that bears your account number for all to see, when you use direct deposit your account number remains confidential to your financial institution or payroll provider. Confidentiality is another benefit of outsourcing payroll.

10. Worry/Peace of Mind

With the help of a professional payroll service provider, the hassle and pain often associated with processing payroll is gone.  You provide the basic information, and your payroll company takes care of the rest. And with guarantees of error-free payroll and tax filings and payments, you can eliminate the worry that many experience when it comes to paying employees and taxes correctly and on time. There’s a lot to be said for the peace of mind that outsourcing payroll services can bring to a business owner or manager. No headaches, no hassles: You’re left to focus on running a profitable business. A clear focused mind is one of the true benefits of outsourcing payroll.

In Conclusion, when you encounter a business owner or manager who can identify with 1 or more of these 10 factors that prevent productivity and hinder profitability centered around the time and cost associated with administering your own payroll, one can usually find a business case to make the switch for outsourcing payroll.  These are the key benefits of outsourcing payroll.   Assuming the payroll provider does a quality job and serves the client, these outsourcing relationship become long standing business partnerships.

 

Vision HR, Inc. is headquartered in Daytona Beach, Florida and serves payroll clients in the United States. To get a quote for outsourcing payroll click here.

Responsibilities When Collecting W-4s

W-4 Employer Responsibility | Vision HR

What are an Employers Responsibilities When Collecting W-4s

Since employees fill out their own W-4s, you may think your company’s responsibility ends with collecting them, using the information for withholding, and keeping the forms on file. But a basic understanding of W-4s is necessary so you can answer the questions that will inevitably come up. So what are the Employers Responsibilities When Collecting W-4s.  Here are some issues you should know about.

Employees don’t always take the task of filling out their W-4 forms seriously. They may write “exempt” on the withholding portion of the form, or even claim a false high number of withholding allowances to ensure that no federal or state tax is withheld.

When Employees Ask Your Advice

The W-4 form itself offers some guidance. Here are some questions to help the employee determine if he or she can legitimately claim to be exempt from withholding:

1. Did the employee have a tax liability in the previous year? If the employee received a refund of all federal income tax paid (or had a right to a refund), he or she may be able to claim exempt, depending on the answer to the next question.

2. Does the employee expect to have a tax liability this year? To determine the answer, ask these questions:

a. Can the employee be claimed on someone else’s income tax return this year (such as a parent)?

b. Will the employee’s income for 2013 exceed $1,000 and include more than $350 in unearned income (such as interest or dividends)? If the answers to both a and b are yes, the employee may have a tax liability for the year, and cannot claim to be exempt from withholding. In order to legitimately claim to be exempt, the employee must be able to state that he or she had no tax liability last year, and does not expect to have a tax liability this year.

Important:  An “exempt” W-4 is only valid for one year and expires in February of the following year.  If your payroll includes employees who claim to be exempt, require them to fill out new W-4 forms annually.

Questionable W-4s

The IRS classifies “questionable” W-4 forms as those which claim more than 10 withholding allowances, or claim to be exempt from withholding when the individual’s taxable wages would normally exceed $200 per week. Several years ago, when employees submitted questionable W-4s, employers were required to submit the forms to the IRS for possible review by the agency. At one time (before April of 2005) there was an automatic requirement to send these forms to the IRS. W-4 forms are still subject to review by the IRS. Current procedure: Based on other available information, the IRS may determine that an employee has authorized inadequate withholding and may request the employer send the questionable W-4. If an employee is found to have a serious under-withholding problem, the IRS will instruct the employer to withhold at a more appropriate rate. Responsibilities When Collecting W-4s are many.  Next is why it’s important.

Invalid W-4s

According to the IRS, a W-4 form is invalid if any unauthorized addition or change is made to it, or if the employee indicates in any way that the information on the form is false. If employees seem to be taking the process too lightly, you may need to inform them that an individual who files a false W-4 form may be subject to a $500 penalty. So what is your responsibility if you are given an invalid W-4? Don’t use it. Instead, tell the employee that the form is invalid, and instruct him or her to fill out a new one. If a new, valid form is not received, withhold taxes at the highest rate (as if the employee is single and has no withholding allowances). Or, if you have an earlier W-4 form that is valid, you can withhold according to that form.

Vision HR helps you with these payroll issues and more. Clients rest easy knowing the experts at Vision HR are taking care of payroll processes and the frequent changes required to handle payroll correctly. Call (877) 641-0012 to have Vision HR experts handle your payroll today.

Vision HR | Daytona Beach, Ormond Beach, Port Orange, New Smyrna Beach

Source:  Bizactions / Thompson Reuters

Get a Payroll Quote

Get a Payroll Quote

Why you Should Get a Payroll Quote.

If your business is spending too much time trying to administer payroll, you should consider outsourcing your payroll processing to a group of experts.  This would free up your time to work on growing your business and not employee administration.

To Get a payroll quote for payroll processing services, click here and submit basic information so that a payroll expert can quote payroll outsourcing costs for you.

Typically, payroll services offer an attractive and valuable alternative to in-house processing. Selected correctly, they provide a less expensive, simpler means of paying your employees, filing your taxes, and performing a host of other duties

Utilizing a payroll service can ease your mind. The Internal Revenue Service reports that one out of every three employers have been charged for a payroll mistake, with total penalties reaching into the billions of dollars. And given the ever-changing nature of tax regulations, it’s easy to make an error that can seriously affect your bottom line.

A payroll company’s basic services include calculating payroll and tax obligations for each employee, printing and delivering or direct depositing checks, and providing management reports. Checks can be issued on a weekly, bi-weekly, monthly, semi-monthly or yearly payroll basis.

In addition, payroll firms can offer services such as automatic check signatures, envelope stuffing, and direct deposit of checks. Payroll firms also issue W-2 at year end.

Many services now offer tie-ins with 401(k) and Section 125 mutual fund plans, allowing employees to designate automatic deductions from their paychecks. And for larger companies with more complex processing needs, some payroll providers have even begun to offer integrated HR software systems that track employee benefits-related information in addition to regular payroll data.

Get a payroll quote from Vision HR by clicking the logo below.

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