Using a PEO for Payroll to Help With Your Expanding Business
Your business is expanding, and although you may be excited to see your company thrive and be successful, you’re probably wondering how you are going to take on all of the extra responsibilities that come with the growth of your business.
Payroll administration is an integral part of running a company and must be kept up to date at all times to avoid any accounting or salary concerns. There are many federal, state, and local laws you have to comply with concerning employees. As a small business owner, you may not have had any issues with staying on top of your human resource obligations. However, as you gain more employees, having to complete payroll duties can become overwhelming and time-consuming; which is where a PEO can help!
A PEO can perform many payroll and HR functions for your business. Sharing responsibility for your employees through a co-employment system allows you to manage your staff while running your company, and lets the PEO take care of things such as wages, taxes, and benefits.
Outsourcing Helps You Achieve Your Goals
Using a PEO helps you achieve your goals by freeing up time and resources so you can concentrate on your core business. You reduce the risk of not processing your payroll by allowing an experienced organization to assist in making sure your employees always get paid.
After you tell your PEO how many hours each employee has worked, the PEO will calculate the employee’s paychecks and tax responsibilities. The employees will then be paid by checks or direct deposit. When it’s time for taxes and deposits to be filed, the PEO can also help you take care of that as well.
Although a PEO helps you with your payroll administration, you are still responsible for sending in all required paperwork on time, such as new employee information, time cards, or updates regarding an employee’s life event. If your staff doesn’t get paid on time because you delayed getting your PEO the proper information, the PEO will not be held responsible.
The Right PEO Can Give You Peace of Mind
It’s important to work with a PEO who is reputable and will work honestly on your behalf. You are giving your payroll provider access to the names, addresses, social security numbers, and bank account information of the employees who work for you as well as allowing the PEO to file on your behalf.
Our company takes pride in helping you alleviate the stress that comes with handling employee payrolls each week. Whether you have a small or large business, Professional Employer Resources, Inc. (PER) is happy to assist you with your payroll administration needs. Leaving the payroll duties to us allows you to run your business with peace of mind. For questions relating to payroll administration or any of the services we provide, call 888.599.4991.