Hello guest! Welcome to FACT Advisory

Write Your Message info@factadvisory.in

We Feel Happy To Talk +91-8291 92 0442 / 022 - 2610 0549

 
     
   
 
Payroll Accounting
 
Payroll accounting involves a company's recording of its employees' compensation, including
  • Gross wages, salaries, bonuses, commissions, and so on that have been earned by its employees
  • withholding of payroll taxes such as income taxes, Medicare \ taxes, state income taxes (if applicable)
  • withholding for the employees' portion of health insurance premiums, employees contributions to savings plans, garnishments of salaries and wages, employees contributions to CSIR, etc.
  • employer's portion/expense of fringe benefits such as health and dental insurance, paid holidays, vacations and sick days, pension and savings plan contributions, worker compensation insurance, etc.
If employees are paid weekly or biweekly and the company has calendar month/year accounting periods, the company will have to accrue for the wages and benefits earned by the employees (but not yet paid or recorded in the general ledger accounts) as of the date of the inancial statements.

Ourr clients can avail from us Payroll Outsourcing services that meet the requirements of various industries. Our payroll services help the employers to meet business compliance issues. Partnership with our organization ensures hassle free operations for the running of the business of our clients.

Our Outsourced Payroll Processing Services include the following:
  • Monthly processing of payroll.
  • Monthly computation of payroll related statutory liabilities.
  • Monthly preparation of Bank Transfer Letter.
  • Monthly preparation of Employee Pay Slips and Income Tax Computation report.
  • Monthly Closing.
  • Attending to employee queries.
  • Generation of Form 16annually.
While working on your payroll account we ensure timely and accurate payroll for ensuring smooth payroll function thereby make employees’ and all other stake holders confident about the payroll process.

So, why it makes a good business sense to outsource your Payroll accounting to us?

Three primary reasons are:
 
Lower your Cost
  • For small businesses, an in-house payroll service is a money burner.
  • Fewer than 20 employees, there's a good chance to save money by outsourcing payroll operations.
  • Calculate number of hours employees devote to payroll-related activities, calculate how much is being spent and compare the amount to the plans offered by several payroll-services providers.
  • Be sure to count the money that is spent on tasks like printing and distributing checks & creating tax documents.
 
Boost your Productivity
  • Payroll management is a time-consuming activity.
  • With this burden removed, employees can focus on doing more productive things, and can even trim your staff's size
 
Gain essential financial insights to manage your business lean
  • Payroll-services provider is aware of ins and outs of payroll related tax laws and regulatory mandates on the federal, state and local levels
  • Employees could try to achieve the same level of understanding, but it would take a considerable investment in time and effort
 
 
 
 
     
35606 Times Visited