If you are looking to partner with our payroll services company, one of the perks you will receive is accurate, detailed and customizable reports on your company’s payroll for each pay period, or a given duration of time.
Reporting is an important part of the payroll process, and if you are a new business owner or are looking to outsource for the first time, it makes sense to have questions about how your payroll service provider will handle your reports.
Our company has partnered with businesses in the Bay Area and across the nation to provide payroll services and allow them to focus on important business activities while we handle everything related to payroll. We have the experience and technology to make sure your company stays compliant with tax laws and all your employees are paid accurately and on time.
We’ll be answering a few FAQs about our reporting process below. Hopefully this gives you a better idea of how we handle reporting for our clients and how we can help your business thrive.
What is Payroll Reporting?
Payroll reporting, when done by a qualified, professional payroll services company, is the collection and display of crucial data relating to your employees, their amount of pay and how this amount was derived. Payroll reporting consists of not just one report, but a series of different reports which can be customized to fit the needs of your company and/or revenue services.
Payroll reports include basic employee information, withholding information, hours worked, pay rates and more. These reports are available for each pay period, or for a given duration.
How Does Payroll Reporting Help Businesses?
Many companies choose to customize the information on their reports, how frequently they are delivered and/or which members of their organizations receive this information. Payroll reports can give you real insight into how your business is running, how much money you are spending on your team and even how well your people are performing.
Metrics such as bonuses paid, overtime worked and other key data points can help inform your decisions on business strategy and personnel management. For this reason, we work with companies to determine which data is important to them and at which time intervals it is most helpful and build reports to fit their exact needs.
Are Reports Needed for Tax Purposes?
Government agencies require reporting on your workforce for tax purposes, and these reports must meet certain standards and include specific information. Depending on the state or local agency, different reports are due when employees are hired and/or either quarterly or annually to account for your entire organization. Compliance with these reporting responsibilities is essential, and our team has the experience to ensure your company doesn’t miss any of the reporting requirements.
These are just a few ways reporting can help your company, and we would be happy to explain how we can create the ideal payroll solution to fit your needs. Browse our website for more information or give us a call today to set up an initial consultation about adding payroll services for your business.
