Elements of Payroll Administration
Payroll administration is one of the most extensive responsibilities, and depending on the size of the company, consumes significant resources and manpower. Outsourcing payroll would relieve the company of financial burdens and streamline its resources. Some of the elements of payroll administration include tax filing, attendance recording and a wide range of other responsibilities depending on the needs of the organization. Here are the detailed services provided by payroll service providers in Oklahoma to client companies:
- 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 FICA, FUTA, SUTA reports
- New hire reporting
- Federal payroll summaries
- Production and delivery of W-2s
- Wage/hour law compliance
- Paid leave program
- Comprehensive payroll deductions
- Vacation & sick time accruals
- Department summary
- Multiple worksites
Adaptability to Specific Needs of the Client Company
Each company has its own needs, and the scope of operation, size, and staff employed vary. The PEO’s success lies in its ability to adapt the services it offers based on the demands and requirements of the client company, in order to ensure profitability and sustainability for the latter. Payroll service providers in Oklahoma make their services worthwhile for the greater good of the organization.
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