Payroll is the total amount a company pays to its employees in a certain time period. Important parts of payroll involve time and pay administration, and it can deter many small businesses because of its complex history. Managing payroll is complicated and time-consuming. You need to keep various factors in mind, including leaves adjustments and reimbursements - all while being mindful of compliance with tax and statutory regulations. With too little time and knowledge, businesses may keep making mistakes such as paying an improper amount, which displeases employees and leads to fines from the government.
Implementing an efficient payroll management system can help you maintain compliance while also making sure your employees are paid accurately and on time. Hiring a payroll service provider can help you in a number of ways, from decreasing employee dissatisfaction to reducing the risk for government penalties. Whiz Consulting provides cost-effective and efficient payroll services, so one of these businesses processing outsourcing, outsourcing providers would be a great way for you to manage your payroll.
When processing payroll, it is important to pay attention to details. Processing payroll can be time-consuming and tedious, so mistakes are likely to occur.
One another concern for payroll management is compliance and tax filing, as well as changes in the legislation and existing laws.
Accuracy is a trademark of any payroll management system; however, the amount of data payroll processing is voluminous. Ensuring the accuracy of payroll data is crucial for optimum performance.
Some payroll fraud that people in an organisation can commit will impact the organisation, like ghost employees, falsified wages and commission, or even fake insurance claims.
In most cases, the HR and finance departments both take responsibility for payroll, but this only adds up to the workload for both departments.
Processing payroll is quite costly, and one needs to invest in software and human resources. This hinders the overall efficiency of the process.
As an outsourced payroll services provider, we are the experts you are looking for. Services include –
Payroll data entry, payroll data processing including tax calculation
Calculating the exact amount due to employees after withholding taxes
On-time pay slip generation and emailing
Recordkeeping & administration
Monthly, Annually Employer or Statutory compliance
Map the timesheets and prepare employee payslips and salary
We set up a system according to the schedule chosen by you, and then we prepare a calendar with relevant dates.
Important data and timesheets are shared through email or via cloud storage services like Dropbox or Google Drive.
Based on inputs received from you, we calculate gross pay, deductions, net pay, and so forth.
We process all employee payments through a batch file which is sent to the Bank for upload.
We review the activities at constant intervals, ask for your feedback and make revisions wherever required.
Outsourcing to a team of highly-trained professionals can ensure accurate payrolls and many other benefits. For over a thousand payslips each month, the Whiz Consulting team has a wide knowledge of payroll methods and can provide a high level of service to both sides of an advantageous payrolling relationship. Some other benefits of choosing Whiz Consulting for your Payroll Service are -
You need to understand the process of payroll, or you can fall behind. Outsourcing payroll is not new, and many businesses have hired it to relieve their own burden. It has helped many save money and stay in compliance with local laws and regulations. For a business, it is essential to know the process of payroll – pay calculation, allowances, deduction, payment of leaves, generation of payslips, calculation of taxes, as well as timely payroll tax payments. And these are best left in the hands of experts.
Whiz Consulting has over a decade of experience providing clients with an affordable alternative to in-house payroll services. We provide timely reporting of all payroll compliance. We at Whiz Consulting have been providing in-depth payroll management services for over a decade now. We offer an affordable way for our clients to take away the payroll burden by providing a time-saving and cost-effective alternative to internal processing. We provide our outsourced services in the US, the UK, Australia, India, and other countries and offer these complications solutions to ensure cost-effectiveness, efficiency, and accuracy.