Accurate & Timely Payroll Solutions
Outsourcing payroll is one of the smartest business choices you can make. The number one reason you want to outsource your payroll probably isn’t what you’d think. While most employers are intrigued by saving time, outsourced payroll solutions can also save you quite a bit of money. Every year, billions of dollars in penalties are assessed due to late payroll tax submissions. This doesn’t account for the additional money lost to time theft and fees for not adhering to local regulations.
Protea’s payroll management outsourcing services is geared toward (SMB) small- to medium-sized businesses that can’t afford a dedicated payroll department. Our team will help you manage the multitude of variables, ranging from hourly employees to W-9 contractor compensation.
Your Protea Financial bookkeeper will process your payroll, enter the payments into your system, and submit taxes in a timely manner. It’s a perfect solution for a business that would like to lower their overhead while gaining more accuracy. Keep reading to learn more about the benefits of outsourcing and the types of payroll management covered by Protea.
The Real Benefits of Outsourcing Payroll
One of the first questions to ask when outsourcing payroll is, “what does my business have to gain?” The simple answer is money saved, recovered time, and expert assistance. Everything from tracking hours to filing taxes can add to your workload, but it doesn’t have to.
You’re an expert in your business, and we’re an expert in ours. There’s a steep learning curve when it comes to understanding the nuances of payroll management – and that requires extraordinary amounts of time. The hours you spend doing payroll weekly or bi-weekly is the time you could be used growing your business.
Our team is efficient and creates a system to manage your payroll. This gives you an opportunity to focus on the core functions of your business that generate money. Our expertise also prevents payroll errors that would otherwise lead to financial penalties.
Expert Payroll Oversight
Your Protea accountant will work with the bookkeepers to create a system of financial oversight. This extends to your payroll process, where our experts will keep track of the various types of employees you pay. We ensure that your business is compliant with all federal, state, and local regulations. After an accountant and bookkeeper have reviewed our reports, you’ll receive the final payroll information for approval.
Easy Payroll Tax Filing
Filing taxes is a complex process that Protea is equipped to handle. We can assist you by navigating tax rates and developing standard filing procedures. Because we stay on top of your payroll expenses and reports year-round, we will automatically file payroll taxes for you when they are due. There will be no missed deadlines, misfiled forms, or fees for you to handle come tax season.
Payroll Reports | New Employee Onboarding | New Benefits Enrollment | Sick Time/Personal Time Off (PTO) Tracking | Time Card Reporting
Every Payroll Management Need is Covered
If you’re already handling payroll for your company, you’ve realized that there are many steps and stages to payroll management. Our Protea accountants can address every payroll need you might have, from generating reports to tracking PTO. When it comes to in-house payroll vs outsourcing, each of the following duties is crucial – and all of them can be handled by our team.
Payroll reports are created in both hard and digital copies; these provide an overview of your payroll. This includes calculating hours worked, pay rates, attendance, overtime, and more. We can generate these reports on a regular schedule to help keep your business on track. You can then use the information we’ve collected to gain insight to the efficiency and cost of your workforce.
New Employee Onboarding
Onboarding new hires is a crucial process to retaining employees and making sure they’re prepared for work. You have enough to handle when it comes to training your employees, so allow us to handle the paperwork. We can process W-4s and other relevant tax forms to make sure they are error-free.
New Benefits Enrollment
New benefits enrollment is another area where working with an accountant to help. We keep track of the benefits they qualify for based on the length of time they’ve been employed and other considerations. This lets you and your benefit representatives focus on helping employees sign-up for the correct healthcare options.
Sick Time/Paid Time Off (PTO) Tracking
Tracking sick time and PTO also falls under payroll management. There are local, state, and federal regulations to contend with when offering and managing sick time. We can provide software solutions and comprehensive reporting for the time your employees have available. This allows them to see what time they’ve accrued and you to keep them on track.
Time Card Reporting
It’s important for you to know when your workers are clocking in and out. This determines the hours worked, and it can also identify time-theft. Protea will help evaluate your current reporting system and provide solutions that work for your business. You may be surprised by the financial losses you uncover when time cards are subject to close evaluation.
The time you take doing payroll weekly or bi-weekly is the time you could be used growing your business. Our team is efficient and creates a system to manage your payroll, saving you time and money.
Your Protea accountant will work with the bookkeepers to create a system of financial oversight. That extends to your payroll process. Your payroll will be approved by you after being processed by a bookkeeper and reviewed by an accountant.
Choose Protea to Stay on Track
No matter what industry you work in, SMBs can benefit from working with Protea. We can guarantee that you’ll be satisfied by the payroll outsourcing ROI as we prevent errors and ensure taxes are filed on time. We are happy to work with all businesses, but we specialize in wineries, vineyards, and other companies in the beverage industry. You can rely on our professional team to help you gain control over payroll and focus your attention on what really matters: growing your business. Reach out today for more information and to speak with an accounting specialist.
Advantage, Our Customers
Our value can be felt instantaneously. Your books are organized, bills are paid on time and you always understand your cash flow. Actionable insights are being provided to you weekly. A clear financial strategy and execution plan by a trained financial professional. It’s a simple formula for success, driven by our audit trained accounting team based in the US and South Africa. The benefit to you – we work 24 hours a day; progress is always being made.
Protea Financial was founded in 2014 to provide high-quality outsourced accounting at an affordable price. Given Protea’s flexible work...
When you own a company, you are responsible for keeping track of its finances. This process involves compiling and analyzing different financial...
Protea Financial was founded in 2014 to provide high quality outsourced bookkeeping and accounting at an affordable price. Given Protea’s flexible...
As with many cycles in business and life, our country has reached a point in time when generations are moving into different stages of their lives,...
The pandemic has changed many of the types of business success stories. For example, one local restaurant saw their business traffic fall to nearly...
The Spring of 2022 marks the beginning of the third year of the COVID-19 pandemic. While many Americans believe the pandemic is over with life...
Protea’s goal is to provide, at costs below the market average, timely, accurate, and high-quality financial information on which a business can act.