Employee Payroll

Employee payroll can quickly consume most of your time if you haven't considered outsourcing to a third party. If you have the time to use payroll software, you can save a lot of time in processing employee payroll. Employee Payroll includes the following: deductions, bonuses, wages, salaries, and all the other financial records of a company. Usually companies will establish their paydays to be weekly, bi-weekly, or monthly. You rarely find a company that wants to pay their employees on a yearly or quarterly basis. Usually you will have some type of time clock system in tact. There are time card systems that allow employees to log into the computer program and clock in; this eliminates the need to use punch cards or time sheets. Having your time automatically entered into the computer will eliminate the amount of errors that can occur from you adding them up.

The online payroll will require that you are up to date with the latest payroll tax laws for your state and federal government. If you have employees who work out of state, you will need to comply with their state laws as well. The rates for Social Security and Medicare are always changing, and you are required to pay them. You are required to pay other taxes as well and if you offer benefits such as dental, medical, and retirement to your employees, you will need to deduct this amount from their paycheck.