Payroll Accounting includes an organization’s account of its representatives’ pay including: net wages, pay rates, rewards, commissions, etc that have been earned by its workers. retaining of finance assessments, for example, government annual duties, Social Security charges, Medicare charges, state personal expenses (if relevant)
Payroll Accounting
Payroll Accounting
Tax Metrica Advantage
Tax Metrica offers a wide scope of administrations for firms performing redistributing exercises. Notwithstanding giving monetary administrations, for example, bookkeeping and finance, we likewise offer MIS detailing and the executives arrangements. Our modified arrangements empower associations to boost reach and benefit.
Tax Metrica Services
- General Payroll Accounting.
- Payroll reconciliations.
- Payroll processing.
- MIS Reports for all levels of management.
- Payroll Taxation
- Payroll Audit
Business Growth is your Friend
- Expenses
- Business Profit
- Company Growth
OVERVIEW
A Manual payroll system is slower than an automated system.
An automated payroll system provides vast data for analysis to the employer so that they can understand the cost-saving and compliance prospect.
An automated system provides accuracy and legal deduction and employee attendance or time worked, with data accuracy.
Advantages of Payroll Accounting
- Many businesses take to use payroll accounting through any software over manual processing, as it can help them to:work out payroll calculations and deductions fast
generate exact payslips.
calculate the expenses, bonuses, holiday pay, etc with less effort
send returns to the management of the user need and other forms for employees
automate certain tasks, such as year-end reporting
decrease the burden of compliance
take off the need to understand complex tax legislation
store data such as payslips and annual reports in a secure, easily agreeable system
Employee Master Data.
Employees Attendance.
Employee salary details
Employee legal deduction & Tax Payment towards the government
Employee-related Annual form.
Analysis of cost structure of employee.
If you’re deciding whether or not to switch payroll providers, consider this checklist for evaluating payroll services.
Pricing for our payroll services includes a base fee which is based on the frequency of your payroll, a fee for each employee, and the number of W-2s that need to be filed. Other contributing factors include garnishments, new hires, and if you’re doing business in other states.
Outsourcing payroll saves time and money. It is actually less expensive to have an outside service process your payroll when you factor in all the variables. You also get the peace of mind of having a payroll professional making sure that you are in compliance
With CSI, you work with a specific processor who is assigned to your account. Your dedicated processor will become familiar with your account and it will be like working with your own employee. You will get customer service that only comes from working with a small business, like yours
Let us know what your policy period start and end date is and we can produce customized reports for that time period. We can also conduct the audit at our office. Just let your auditor know that you want the audit to be done at our office and they will contact us to schedule a time.
Federal minimum wage is $7.25 per hour; however, Minnesota has a higher rate of $9.00 per hour, so the state minimum wage takes precedence. There are some exceptions for small employers that don’t engage in interstate commerce and for teenage employees. Learn More
Federal law requires overtime pay of at least 1.5x regular rate for any hours worked over 40 in your regular workweek. There are exceptions for small employers that don’t engage in interstate commerce.
There is a number of instances that could trigger an audit concerning misclassifying an employee as an independent contractor. They include but are not limited to the following: a worker reports the employer to a taxing authority, the worker gets hurt on the job and wants the company’s workers compensation to handle the claim, or the worker files for unemployment and lists the employer as a previous place of employment.