Thursday, April 8, 2010

Payroll Services

In today’s business world one costly common goal businesses they have is the need to calculate, manage and pay their payroll taxes. New businesses have to decide what is best and cost efficient for their operation when deciding if they should have a weekly, biweekly or monthly payroll. It all depends on what type of employees the business operation needs. Examples of type of employees are, service companies requires admin employees, most manufacturers require laborers and admin employees and some companies that are run only by their executives require officers employees. This knowledge is important because it affects the cost of your workers compensation insurance. Two other factors to consider when deciding the frequency of running payroll is your cash flow and how much is going to cost you to run the payroll in house. Running your own payroll can be an additional high cost expense added to the other cost of running a payroll like worker compensation insurance, federal and state unemployment, employer FICA and Medicare taxes, commercial insurance to insure your employees and other state taxes. There are yet, other costs if you are offering your employees fringe benefits. For larger businesses running in house can be beneficial if the issue of control and management is important but for small and medium sized businesses especially those with a few employees, hiring an outside contractor to do this job would be less expensive , cost effective and a time saver for managing the business operation. .

Outsourcing payroll is cost effective for all types of businesses. When you outsource, all you have to do is report the hours to the provider company and everything else is done for you. On the set date of delivery, you receive your checks and all your reports. Most providers can input the payroll transactions into your system too. So when looking for a provider, also ask if they can also enter the transactions in your accounting system.

There are already many businesses that provide payroll services in the market today, but be careful to select one that has great customer service and one that don’t charge you per payroll and per employee. The competition is probably great in this area but this gives you the opportunity to select the most appropriate and suitable service provider for your company. How to choose amongst these providers? When choosing appropriate payroll services for your business consider all what you are looking for. If you need a one stop shop which will provide your business with a total payroll management so that you can focus in the core of your business you need a high skilled accountant and a trustworthy provider with excellent customer service. Imperial Accounting Solutions LLC is a company that offer you this service performed by highly skilled accountants not clerks. We will provide payroll services for a set fee not on per payroll or per employee basis. We offer all frequency and there no additional cost. We offer FREE direct deposit for those who will like their paycheck deposited to their bank account and we also offer the employer free electronic federal and state deposits. In addition we prepare the federal quarter taxes and they are file electronically. The preparation of the W-2s are included in your monthly fee. Our prices start at $80.00 for 5 employees for total payroll management service and a one time admin fee at $50.00. We are a one stop shop with complete payroll solution package for small to large sized businesses. We are a business payroll solution, your company needs. Give us a call today 888-343-9994.

Wednesday, April 7, 2010

Payroll Service Comparison Chart

Payroll Service Comparison Chart




Imperial Accounting Solutions Online Payroll
                    

Payroll Software

Traditional Payroll Service
AccessYou can run payroll from any computer with Internet access (OR we can do everything for you, once you send us hours).You must use the computer where your accounting or payroll software is installed.You must make yourself available to submit hours by phone or online.
SetupWe do the set up for you, there’s nothing to install on your end. Software and tax table updates required. No help with new hire reporting,
W-4s, I-9s.
Paper intensive manual process.
Email RemindersTimely email reminders remind you of all important deadlines.Online reminders exist, but they are not automated. No reminders available.
Paycheck
calculations
Instant and guaranteed accurate.Instant and guaranteed accurate (but requires ongoing tax table updates).Paycheck
calculations are delayed from the time you report hours.
Direct DepositFree Extra charges apply.Extra charges apply.
PaychecksPrint instantly on blank or pre-printed check stock – either at our
office or yours.
No blank check printing option.Delivered to your office for an extra fee.
Tax Impounding No tax impounding- funds stay in your bank account until the payment is due.Depends on service selected. Taxesare withdrawn on each payday, typically several weeks before they are
due.
Electronic tax payments and filings Electronic 940s, 941s, 944s, W-2s, and e-file for most states (or we provide signature-ready forms).Depends on service selected. Electronic functionality available for 941s, and very few states.The service takes care of taxes for you, for an extra fee.
Customer
Support
As your trusted advisor, we’re here to help you whenever you have a
question.
Extra charges apply.Included
ExportEasy data download to QuickBooks®, QuickBooks Online, QuickBooks® for Mac, Microsoft Money®, Peachtree® and Quicken®.Works only with the accounting software you use.Downloads data to accounting software, but as journal lump-sum. There are no split level details available. 
PriceStarting at $80 for 5 emp., $1.50 additional employeesPricing can vary greatly by service selected. Additional fees for direct
deposit.
Pricing varies by no. of employees and payroll runs. Additional fees for direct
deposit, quarterly filings, delivery fees, W-2s etc.










































              

For more information on our payroll offering, please contact us at 888-343-9994.