PEO payroll processing and administration services give companies the required focus to devote their workforce and sources for their core responsibilities. Payroll outsourcing services provide you with a great chance to focus on the fundamental facets of your company, departing other jobs like processing payrolls to some PEO company. The payroll processing and administration solutions provided by PEO’s include:
o Payroll preparation and delivery
o Payroll taxes and filing
o Section 125 pre-tax administration
o Payroll deductions, garnishments and levies
o Flexible spending accounts
o Federal and Condition payroll tax deposits and returns
o FICA, FIT & SIT tax withholdings
o Customized payroll reports
o Audits and job cost accounting reports
o Cost allocation reports
o Updated worker files
o Filing of quarterly reports – FICA, FUTA, SUTA
o New hire reporting
o Federal payroll summaries
o W-2, W-3, and 1099 forms
o Wage/hour law compliance
o Control over compensated leave program (if relevant)
o Comprehensive payroll deductions
o Vacation & sick time accruals
o Department summary
o Multiple worksites
Payroll processing and administration is just one of the numerous HR outsourcing services provided with a professional employer organization. PEOs have extensive experience coping with many companies. Additionally they conserve a deep relationship with insurance firms which help much them offer competitive Workers’ Compensation plans. The knowledgeable staff that produces a PEO knows about federal and condition regulation. They are able to therefore be sure that your business satisfies all government norms. In a nutshell, your relationship having a PEO produces a winning combination, arming you with the sources you have to flourish in an aggressive atmosphere. PEO payroll processing and administration services eventually help companies increase earnings through streamlined processes.