If you are considering hiring a payroll company to take some heat off you as a small business owner, then it might help to understand exactly what services they offer and how they can benefit you and your organization. These are the benefits that payroll companies in Charleston, SC, offer small to midsize business owners.
Simple Tax Filing
One of the most advantageous and probably obvious services that a payroll company in Charleston provides is simple tax filings. They can take care of filing your state and federal payroll taxes and ensure that you are within the tax code rules, so you aren’t scrambling at the end of the year to provide employees what they need to be IRS compliant!
ACA Reporting
For those companies that are required to file a 1094 and 1095, a payroll company will take care of those forms come tax time as well. They take care of everything you need for your tax filing to avoid penalties and get things handled behind the scenes without any attention needed on your part.
Integrated Benefits Deductions
If you aren’t consistently updating and recording deductions, there is a high likelihood that you aren’t recording them all and thus not getting all the benefits you could. A payroll company will update your deductions in real time every time they run your payroll. That means everyone has the information they need to make the most out of deducting what they can for tax purposes.
Recording Attendance
You can barely remember your own schedule and attendance at times; if you have employees, keeping track of their vacation, sick time, and PTO can get lost in the shuffle if you aren’t constantly on top of it. Make sure that you know who is where and how much time everyone has taken off so that you can plan appropriately.
Standard Detailed Reporting
Recording and monitoring payroll isn’t something that should be just about getting employees paid. There are many things that payroll reports can tell you about the health of your organization and how to make big-picture and daily decisions to optimize your profits and processes. A payroll company in Charleston is an excellent resource to generate analytics to help you plan your day-to-day, as well as your overall analysis of employee needs and scheduling.
Employee Access
Sometimes dealing with your employees’ needs can feel like a full-time job in and of itself. A payroll company can give your employees access so that they can get the information that they need instead of running to you. That creates both goodwill on their end and way fewer headaches and hassles on yours! Things like tracking absences, payment history, and accrual balances are just some of the information that we can give access to so that you don’t have to get in the middle of it and waste time.
Cloud-Based Payroll
Not enough companies use their payroll to make decisions for their daily operations or their big-picture growth. A payroll company can take your information online and allow you to access it from anywhere when you need it. They can also generate reports to help you plan and prepare your operations, so you will always get the most benefit from your information instead of it being stowed away unused somewhere.
If you are considering hiring a payroll company in Charleston, SC, it is a good idea to know what they do so you can decide if one is for you. At AdvantEdge Payroll Benefits & HR, we give you the edge you need not just to survive, but also to thrive in any economic atmosphere. We take the administrative things off of your plate so you can focus on what you do best! Contact us to get started today!