Tips to Make Payroll More Efficient

July 10, 2022
Published by Gonzales Group CPA

When you run a small business and have employees, even if it’s just one or two, you need to be up to date on payroll. After all, that’s how everyone gets paid, but it’s not as simple as just giving people money. This is why many people turn to payroll services in San Antonio. Gonzales Group offers such services and can take on this task so you can focus on your business.

However, there are things you can do to make payroll more efficient. You should start by classifying your workers as employees or independent contractors. You will also need to decide if you will be paying hourly or as a salary. Finally, always double-check your data entries to make sure there are no errors.

With all of that in mind, now it comes time to create a payroll calendar to determine how often employees are paid. This is typically weekly, biweekly, semimonthly, and monthly. These typically depend on the type of business, since hourly workers tend to be paid weekly, while salaried employees are usually paid semimonthly or monthly. A payroll calendar also has the benefit of helping you determine your business’s cash flow.

Another way to make payroll easier is to use direct deposit. This bank service is more convenient, more secure and faster than checks, and means you don’t have to print and possibly mail checks. Employees appreciate it, as well.

You should have a clear policy regarding payroll. After all, there are other issues, besides paying employees. There are typically tax withholdings, paid vacation, attendance, and benefits, which all need to be kept track of and maintained in a timely manner. Laying out the basics clearly for everyone helps avoid potential issues.

Still, it’s clear that there is much more to payroll than simply paying your employees. Especially when it comes to taxes and benefits, it’s important to have an individual who can focus on this as their sole job, or better yet, outsource it to one of the payroll services in San Antonio. Gonzales Group CPA is experienced with payroll, tax preparation and many other features involved in the financial side of running a small business. Let us help you so that you can spend more time growing your business, smoothly and successfully.

Categorised in: Business Tips, Tips to Make Payroll More Efficient, Uncategorized, What Are Business Expenses?

This post was written by Gonzales Group CPA