Payroll…

Unlike Payroll Rx, many CPA and bookkeeping firms have not made the investment in their software or managing of their processes to offer quality payroll services efficiently. We have over $70,000 invested in our systems and we are not slowing down. At Payroll Rx, we want to have the best technology available for us and our clients’ efficiency and accuracy. That being said, please take a look below and compare with your current situation. Then, give us a call, we’re always happy to share more about how we can help!

Tasks to Manage Doing Payroll With Your CPA or Bookkeeping Firm Tasks to Manage Doing Payroll With Payroll Rx
You may have to buy your own software and pay at least $200 each year for tax tables – or other module licensing costs  No software to buy – EVER!
Then – EVERY Pay Date You Must:

  1. Collect time keeping data – make edits – perform calculations
  2. Input time keeping data or Fax/Drop off with Firm – or call in, or leave message and wait for call back
  3. Drive to pick up paychecks – or print at your site
  4. Fix printer jams, add paper – maybe.
  5. Pay for check stock – or firm orders and bills you for it.
  6. Sign Checks (or at least stuff/lick envelopes)
  7. Remember to log into direct deposit portal from bank (additional fees incurred) – or pay CPA to do this for you – either way, you’ll still incur bank charges
  8. On direct deposit portal – key in net pay data, add new employee data, or import data.
  9. Hand out paychecks/paystubs
  10. Make accounting entry – maybe – usually not
  11. Remember to pay payroll taxes – sometimes – depends on firm
  12. Take 8109 coupon to bank or log into EFTPS or bank portal (extra fees here too) – again, depends on firm
  13. Risk failing to remember and get payroll tax penalty notices
  14. Live with no guarantee of timely and accurate payroll tax payments and quarterly filings
  15. Deliver paychecks/stubs to all of your locations. Even your own single location – most Firms will not deliver. And what they do deliver is usually not stuffed/sealed, let alone signed.
Then – EVERY Pay Date You Must:

  1. Submit that pay period’s payroll data to Payroll Rx via phone, fax, email, or our web portal. Don’t worry, we’ll remind you.
  2. Hand out paychecks/paystubs – they arrive signed, stuffed, sealed, ready to go.
  3. Make accounting entry – which we provide, customized to your chart of accounts – takes 60 seconds.
  4. Done!
 4 Times Per Year – You Must:

  1. Drive to Firm to sign forms – sometimes get a call from firm with one day left to file.
  2. Remember to mail payroll tax reports – some firms will mail for you, but after you drive somewhere to sign them.
4 Times Per Year – You Must Do:

  1. NOTHING!
  2. We file for you on your behalf – NOTHING to remember or do – simply file the copies of what we filed for you!
  3. Nothing to sign!
  4. Done as done gets!
Annually You Must:

  1. Order, travel to get, W2 forms
  2. Reconcile your payroll to agree to all form 941’s
  3. Add other pay items needed for W2’s
  4. Print W2’s, fix print jams, load paper
  5. Stuff envelopes
  6. Set up electronic filing with SSA
  7. Remember to file W2’s/W3’s by mail or via SSA
  8. Pay for tax tables (or license fees for payroll module) every year (minimum of $200/year)

DIRECT DEPOSIT COSTS: To offer 10 employees direct deposit (paid bi-weekly) usually costs $250 to $500 in annual bank fees alone – that’s just for using the bank portal, you still have to remember and manage the database and process!

Annually You Must:

  1. Hand out W2’s – they arrive stuffed/sealed, ready to go!
  2. If using employee self service (coming soon), eliminate this step too!