Cost-efficient Payroll Services for Companies

Cost-efficient payroll services for companies help them ensure affordable management of paycheck distribution and other related responsibilities. These solutions are aimed at relieving companies of HR management responsibilities which will be managed totally by the PEO or the professional employer organization. The PEO is a comprehensive HR solutions provider and your workforce is in good hands when it is entrusted to a PEO.

Cost-efficient payroll services for companies enable organizations of all sizes to benefit from these solutions, as they are adapted to their unique needs and structure. These services include:

• Paychecks and stubs (electronic scanning included)


• Direct deposit to multiple bank accounts


• Payroll delivery (Local would be personal)


• Payroll checks drawn on Kruse account


• Section 125 pre-tax administration


• Payroll deductions, garnishments and levies


• Flexible spending accounts


• Federal and State payroll tax deposits and returns


• FICA, FIT & SIT tax withholdings


• Customized reports


• Job cost accounting reports


• Cost allocation reports


• Filing of quarterly reports - FICA, FUTA, SUTA


• New hire reporting


• Federal payroll summaries


• Production and delivery of W-2s


• Wage/hour law compliance


• Management of paid leave program (if applicable)


• Comprehensive payroll deductions


• Vacation & sick time accruals


• Department summary


• Multiple worksites

Payroll administration is one of the many cost-effective solutions offered by a PEO, the others consisting of benefits administration, risk management, training and recruitment of staff, liability management, regulatory and government compliance and immigration compliance.

The Advantages of Using a PEO

Companies turn to human resource outsourcing once they realize the advantages of using a PEO. The relationship established by a client company with a PEO is generally advantageous to the former, as it not only saves time and effort but also makes the company’s operations more profitable.

Human resource management is one of the most important tasks of any company, as it deals with the most valuable asset of any organization, its employees. The larger the company, the more overwhelming the task is. Companies are forced to devote a large part of their revenue, resources and staff to manage HR. It’s not something that would directly contribute to the increased earnings of the firm but is required to satisfy legal requirements and keep employees motivated. Outsourcing HR services would save much time and resources for a company which could be then devoted to profit generating tasks.

One of the advantages of using a PEO is that a company can tackle HR issues better as a professional employer organization is made up of professionals who are experts in law, accounting, commerce, and employee relationships. The PEO enables the client company to move on the right track and also attract more skilled and experienced staff with its attractive package of benefits.

Though PEOs offer their services to businesses of all sizes, they’re typically marketed for small and medium sized players, as these are the companies lacking enormous resources to offer great employee benefits and tackle other HR issues. A relationship with a PEO alters their profile considerably giving them even Fortune 500 status in the job market. PEOs will also help client companies satisfy legal requirements and reduce employee obligations. The advantages of using a PEO are quite clear for client companies who’ve experienced its service.

HR and Payroll Outsourcing

PEOs (Professional Employer Organizations) take over the human resource administration of client companies, enabling them to focus on the operational side of their business. A PEO establishes a co-employment relationship with the client company by which it assumes the employer responsibilities, while the company itself exercises control over the functioning of the employees at the workplace. HR and payroll outsourcing to a PEO substantially decreases the burden placed on employers since the PEO helps them maintain good relations with employees, keep the employees motivated, and satisfy all regulatory requirements.

HR and payroll outsourcing to PEOs has been beneficial to businesses in America because of the cost-efficient services offered. The PEO helps the employers in efficiently administering employee benefits. The relationship with a PEO gives companies access to a range of employee benefits, one of the most important factors that would attract skilled and experienced professionals. This will help client companies increase their presence in the labor market.

Employers also get to work with expert staff that makes up a PEO. It gives them access to great solutions to improve workforce performance through scientific personnel management practices. These contribute significantly to the profitability of the client’s business. The PEO also manages associated risks and ensures the client’s employment practices and workplace conditions satisfy government regulations, all of which will help bring down the risk of liability and legal penalties.

Payroll outsourcing ensures accurate processing of payroll and distribution of paychecks to employees. It also includes taking care of employee payroll inquiries, preparation and distribution of W-2s and 1099s, and calculation of employment taxes. HR and payroll outsourcing are certainly significant to the streamlined functioning of a business.

Payroll Service Company in Oklahoma

A payroll service company in Oklahoma offers comprehensive and flexible payroll services. Payroll outsourcing is one of the most important elements in human resource management. It is an extensive responsibility, one that demands much of your resources and attention. It is especially a strain on resources for small and medium-sized organizations. Yet regulations and legal issues demand that every aspect of this is taken care of well. Outsourcing payroll responsibilities to a PEO will help lessen the strain on your precious resources.

The Importance of Payroll Outsourcing

Payroll is probably the most extensive responsibility in HR management. Payroll outsourcing taken care of efficiently ensures the other elements of HR management function like clockwork too. But a PEO company is much more than that. The solutions provided by a PEO are comprehensive and take care of every aspect of payroll and other elements of managing your company too. These solutions are in line with the resources of your organization.

Comprehensive Payroll Services

The services offered by a payroll service company in Oklahoma include:

• Paychecks and stubs


• Direct deposit to multiple bank accounts


• Payroll delivery


• Payroll checks drawn on the PEO’s account


• Section 125 pre-tax administration


• Payroll deductions, garnishments and levies


• Flexible spending accounts


• Federal and State payroll tax deposits and returns


• FICA, FIT & SIT tax withholdings


• Customized reports


• Job cost accounting reports


• Cost allocation reports


• Filing of quarterly reports - FICA, FUTA, SUTA


• New hire reporting


• Federal payroll summaries v
  
• Production and delivery of W-2s


• Wage/hour law compliance


• Management of paid leave program


• Comprehensive payroll deductions


• Vacation & sick time accruals


• Department summary


• Multiple worksites

These payroll services are offered according to the unique needs of your organization. The PEO company also helps in all other aspects of human resource management and will help you run your business effectively. There are various disciplines involved in handling payroll efficiently. PEO providers have professionals from the field of law, accounting, taxation and recruitment who can lend a new direction to your organization and contribute to its success enormously, even beyond payroll and HR management.

The association with a PEO company is sure to bring you great success, thanks to its expert staff and innovative solutions offering you better service. So, sign up for the PEO providers’ service and experience enlightened leadership for your organization.