• Information Security and Confidentiality

Payroll data is sensitive and must be protected. At Kingsford Bookkeeping, we ensure that your sensitive information is kept private and is precisely managed. With a constantly evolving regulatory and cyber landscape, it is now more crucial than ever to ensure your data is safe and secure. Using us as a credible payroll outsourcing company is key to the peace of mind that your payroll data is not at risk and is dealt with by a professionally qualified organization. It also keeps your data in safe hands and backed up regularly to avoid losing valuable information.

• Accurate payroll tax calculations

Manual payroll tax calculations are far too time-consuming for companies with more than a few employees. We use payroll accounting software that automatically calculates and withholds taxes, ensuring a streamlined and error-free process.

Even after the payroll figures are organized and recorded, there are still additional payroll tax responsibilities each quarter and at the end of each fiscal year. At the end of the year, businesses must submit a year-end payroll tax statement that verifies each of the quarterly figures and calculates any remaining taxes due. Like individuals, businesses must also complete a yearly income tax return, and payroll figures are included as a deduction on these forms.

• Cost savings

At the core of any organization is the need to monitor unnecessary costs and optimize expenses. It may seem simplest at first glance to assign a task such as payroll management to your internal finance or HR department, however, these options could incur greater costs for your company in the long term.

Systematic tasks such as calculating payroll, the distribution of pay slips, recording of time and attendance and the preparation of payroll taxes to the government, can take a toll on a huge team that is not trained accurately.

Outsourcing payroll can save you money and allow you to allocate revenues to profit-generating tasks.

• Payroll Compliance with Government Regulations

Compliance with payroll rules can be a complex and a time-consuming process. Having to track every employee’s pay rate, hours, and employee status can be stressful and can lead to inaccuracies. Additionally, understanding employee deductions for federal, state, and local taxes – as well as programs like Medicare – can be challenging. These taxes must be set up correctly before employees are paid.

While you outsource payroll to Kingsford Bookkeeping, you can simplify these processes and streamline your employee and payroll information.

Ultimately, you are removing risks by remaining a compliant employer, allowing us to update and prepare all your documents and reporting requirements accordingly, correctly and on time.

• Access to Payroll Experts

Outsourcing payroll to Kingsford Bookkeeping provided access to our team of experts who can offer deep expertise, a compliance focus, and act as an extension of your business with the benefit of being an external control company that work with extreme confidentiality and privacy. Although business owners are ultimately responsible for meeting payroll accuracy and tax filing requirements, having a provider on hand often helps them feel more confident about staying up to date on regulations. Government rules and regulations often change, and small business owners cannot always stay on top of the latest requirements. Our professional staff, on the other hand, is focused on staying current with rules, regulations, and changes in tax for all geographic locations.