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.

See Why Managing Payroll May Require Expert Accounting Skills

Signing or not signing?

Keeping track of employee salaries, pay checks, time off, and other payroll related matters can take time and energy, but what many people don’t realize is that it can require some serious accounting skills as well. Aside from basic arithmetic, accounting for payroll often means working with obscure tax laws, dealing with special cases like tax exemptions, as well as monitoring employee withholdings. If you find that you are in over your head when trying to manage your company payroll, it may be time to hire an accountant who offers payroll services.

The Complexities of Payroll

On the surface, managing payroll sounds like a job that just about anyone could do, right? Many business owners think it shouldn’t be too difficult to add up the hours each employee has worked, and prepare a check that matches their earned pay amount. What most business owners don’t realize is that an understanding of accounting for payroll may be critical. Payroll often involves more than writing a simple check every two weeks for each employee. First, payroll must set up employee tax withholdings for each employee paycheck. Common withholdings include:

  • Medicare
  • Social Security
  • Federal Taxes
  • State Taxes
  • Income Tax
  • Court-Ordered Withholdings like Child Support

These common tax withholdings take time and accounting knowledge to set up and manage correctly. Likewise, some employees may receive legal tax exemptions on each paycheck, and that is just the beginning. From calculating employee health benefits to adding quarterly or annual bonuses, payroll management can get very complicated for an inexperienced money manager.  To avoid overwhelming yourself or your employees with payroll information they don’t know or understand you may want to consider hiring an accountant who can apply their skills in accounting for payroll. A payroll accountant can take full control of your payroll operations from setting up timely pay periods to working through the legal jargon and paperwork involved in different employee tax situations. See what a payroll accountant in your area can do to better your business payroll operations.