18663 Ventura Blvd, Suite 227Tarzana, CA 91356
FREE CONSULTATION818-436-2775
18663 Ventura Blvd, Suite 227Tarzana, CA 91356
FREE CONSULTATION818-436-2775
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Personal, Affordable Payroll Services, Bookkeeping, and Tax Processing for Small Business throughout Los Angeles County.

Best Practices for Payroll Administration in Your Business

Screen Shot 2015-10-02 at 10.59.01 AMWhen you hire your first employee, you quickly become responsible for much more than merely paying them what you owe them and on time. You also must comply with multiple federal, state, and even regional rules and laws that apply to your staff. In addition, there may be other issues that you must keep in mind for purposes of insurance, pension plans, and even customers.

You may find that some of these reporting and record keeping requirements are better left to an outside supplier like ATPP. Here are some of the issues you will need to be aware of and keep tabs on that could be outsourced.

  1. New employee intake payroll issues
    • Determine if employee is hourly or salary (exempt)
    • Employee fills out W2 form to determine number of dependents
    • Establish clear understanding of benefits including
      • Payroll payment dates and method options
      • Any amounts held back
      • Bonuses, profit sharing, or special payments
      • Vacation
      • Holiday pay and rules
      • Pension options
      • Stock plans
      • Sick leave, personal days
      • Medical coverage and employee contribution
      • HR contact person for issues or disputes
  1. Changes in employee status
    • Maintain Current Federal and California Rules Charts in break room or other area where employees generally congregate
    • Keep employees informed of any changes in status related to the entire group or subgroups of all items i through x above.
    • Notify employees of anything that would affect their pay, including changes in employee status, wage garnishments, or levies.
  1. Paycheck administration
    • Collect all hourly data for each payroll period
    • Determine overtime, bonuses, or special payments
    • Review any special deductions (e.g. garnishments or levies)
    • Make any changes in pay status
    • Double check all entries and review final payment amounts
    • Create tax forms and make tax deposits as needed
    • Create checks, direct deposits, or make transfers to cards
  1. Record keeping and analysis
    • Keep all payroll records for at least 7 years
    • Keep pension records indefinitely
    • Create reports for supervisors, managers, and executives
    • Provide management with any useful information points
  1. Other
    • Train at least one other individual in all aspects of payroll
    • Coordinate activities with HR
    • Consider outsourcing the entire process to a company like ATPP

 

All of the above requires a tremendous commitment of high-level management, but is commonly entrusted to low level clerical staff with little or no oversight. Small errors can result in large fines, interest, and headaches. When you outsource to a company like ATPP, you eliminate 90% of the work, analysis, and 100% of the headaches. We guarantee that your payroll will be process correctly, on time, and that all government forms will be produced correctly and on time.

A quick call to ATPP and you will find that the cost of using our service is substantially less than having your own staff handle payroll. We can also help you with your bookkeeping and accounting needs. Call 818-436-2775