Did you know that payroll typically accounts for 30-40% of your overhead? Is that number bigger or smaller than you thought it would be? Many practice owners have never taken the time to delve into their payroll numbers to extract the kind of useful information that goes beyond the numbers on the checks they have to sign – and their payroll processing companies either do not have the additional information that makes them capable of this analysis, or simply don’t offer it in the first place.
Many national payroll companies are often too big to notice when a number is off or something doesn’t add up, and they can’t provide you with functional information as to how your payroll relates to the financial health of your practice.
We hear the stories from clients who were frustrated with their old payroll provider. One client ended up with over $10,000 that had been over-paid to their Texas Workforce Commission account. Another kept receiving very large, surprise tax bills due to underpayment because their payroll company forgot to change the Unemployment Insurance Tax percentage.
Given that payroll is such a significant expense to a practice, why would you treat it so cavalierly?
Simple. Accurate. Insightful.
Many of our accounting clients prefer to use our payroll services because it integrates seamlessly with their accounting software and makes it easier to reconcile accounts. They receive the added benefit of working closely with our dedicated Client Account Specialists and Bookkeepers to ensure the numbers line up and they are paying employees correctly, as well as paying the appropriate amount of taxes. Additionally, we derive statistics from those payroll numbers and present it to clients in a way that significantly increases their understanding of their practice’s overhead.
We offer two options for clients who wish to engage us for payroll services.
You provide us with employee information and time-sheets, and we take care of the rest! Inputting hours, recording time-off benefit usage, calculating the appropriate taxes and deductions, and (once approved) processing payroll as a check to be signed by your designated representative or as a direct deposit to your employees. We also take care of the quarterly filings for your practice, and issuing W-2 forms to employees by January 30th of each year. We are also available to answer any questions you have in regard to paying employees.
With this option, you have full access to our payroll platform, taking care of the data entry and payroll processing yourself. We are happy to answer any questions you have, and will take care of the quarterly filings for your practice, as well as preparing and delivering W-2 forms to your employees by the deadline.