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

Tame Your Payroll with the Right Partner

Payroll Service

For any company, growth is a good thing. However, managing growth can be a challenge. Some of the very first growing pains in a small to medium sized business can lie in the payroll department. A payroll plan is required as soon as a company hires the first employee, either full or part-time. Payroll requires the utmost accuracy, and yet some newer companies do not have the expertise necessary to make regular, accurate payroll, account for all of the taxes and deductions, and meet the requirements of local, state, and national tax agencies. Hiring a full-time or even part-time accountant can be too much of an expense. For many companies, a better option is to become payroll partners with an independent accounting firm.

The Idea of Partners

As in any partnership, two or more parties join to provide an integrated service. Each party brings the strength of their individual talents to the table. The client company brings the core competency and the accounting firm brings payroll expertise. This is a little different arrangement than simply contracting third-party payroll services. In the partnership, the accounting firm becomes more involved in the financial plans and transactions of the company, and establishes a personal stake in their part of the relationship.

Services Offered by a Partner

Besides basic payroll services, payroll partners also provide history tracking. This can include the following items.

Full Auditing-in today’s economic environment, the government has assigned companies ever increasing fiscal responsibility. Errors in reporting and compliance can result in hefty fines. The payroll partner can provide an audit-hardy paper trail.

Security-personal financial responsibility for company funds has increased as well. Modern partners take a page from identity theft software detection systems, and detect patterns in spending. Unusual or unexpected patterns can indicate a possible security breach.

Historical Snapshot-many account records keep current snapshots only. Historical transactions are annotated by date only. This can make forensic accounting very difficult. The ability to provide a historical snapshot allows even more transparency to company financial reporting.

Effective Data Reporting-although payroll and other financial activities can be delegated, the aggregate numbers can be essential for daily operations. Managers must have ready access to the partner’s data.

Consider a Partner Now

If you expect near-term growth, or are currently experiencing growth pains, consider delegating some of your payroll tasks. For an integrated solution, consider choosing from among the excellent payroll partners available.