Problems with payroll have far-reaching effects on a company. If there are consistent problems with payroll, this can lead to upset employees who don’t have respect for the company or the management. This lack of confidence, in turn, can affect the way the employees deal with customers.
Payroll Administration Is More Than Just ‘Doing Payroll’
The responsibilities of payroll administration are varied, and they all require a high level of attention to detail. These include:
- Managing payroll for a variety of positions and levels within the company. For example, the payroll required for people in sales is going to be different from what is required for people who work in the warehouse. Likewise, there will be differences between pay for management and staff.
- Payroll administrators have to gather data on a regular basis. Besides the hours worked, they also have to account for retirement contributions, taxes, and other deductions.
- Every pay period, somebody has to review time sheets or pay logs to ensure there are no discrepancies and that everybody is being paid their full amount.
- Payroll administrators have to account for factors that can vary from paycheck to paycheck. Things like days worked, used vacation days, accrued personal time, and other variables all have to be properly computed.
- Your payroll administrator needs to make sure employees are credited any special pay they receive. Pay for bonuses, commissions (often based on different commission schedules), hazard pay, special skills pay, and shift differential.
- Administrators also need to know how to properly and accurately garnish an employee’s paycheck if they receive an order from a court to do so
- They have to prepare reports for management, often during each pay period.
To top it all off, they have to do this regularly and be on time with paychecks. They really can’t afford to make mistakes, because one thing people won’t tolerate for long is improper paychecks.
It Sounds Like A Lot of Work Because It Is…
Payroll administration, when done correctly, requires a lot of time. Unless you have the personnel and people to support you to do this, it would probably be a good idea to consider outsourcing your payroll administration.
At Flagler Financial, we provide professional payroll administration services for a variety of businesses and industries. We stay informed of new tax laws (federal, state, and local), and we always meet payroll deadlines so that your employees are paid on time and correctly.
However, what we really bring to you is time. Time to lead and manager your company. Time to get home on time. Time with your family.
If you would like to learn more about how we can help you administer your payroll, we encourage you to contact us for a free consultation and examination of your current payroll process.
