Painless Payroll Services
It is the single largest monthly expense for almost all businesses, and it is extremely complicated with frequent updates and changes (new hires, changes to withholding, benefits, taxes, laws and regulations, etc.).
Even if you’re using payroll software that automates some steps, you still need to understand rules around payroll taxes, making sure each employee’s benefits are set up properly in the system.
If you have employees in multiple states, you have to register in each state and keep up with all of the state notices and changes. Your payroll software vendor may help with technical issues, but for the rest of it, you’re on your own.
And if you forget to run payroll or make mistakes, you will find out immediately how important it is to your employees’ satisfaction and retention.
No wonder it’s one of the first things to be outsourced.
If you’re currently navigating payroll on your own, or spending too much time dealing with payroll issues, it’s time to get Momentum Accounting on your team.
Two distinct sets of challenges…operations and compliance.
Running payroll is more than just paying wages. You have to calculate benefits such as health insurance, 401k deductions, as well as withholding federal, state and local taxes. The IRS will pursue businesses that get this wrong since payroll taxes withheld by employers comprise nearly 72% of all revenue collected by the agency.
If the tools being used to manage payroll are not integrated into your main accounting system, you will have to enter data multiple times.
On the compliance side, you have to be current on all employment regulations (federal, state and local) governing employee records. For example, the Fair Labor Standards Act (FLSA) mandates that records of employee earnings must be kept for at least three years. Are your records properly stored and audit-ready?
With Momentum Accounting, you have the peace of mind that your payroll data is securely stored and backed up in the cloud.
A further complication: The increasing mix of FTEs, temps and contractors.
Many companies are trying to stay as lean and agile as they can. That has a profound impact on staffing. Finding the right balance of core team members (FTEs) and supplementing them with temps and contractors to deal with spikes in workloads can really increase payroll complexity.
We’ll make sure you classify employees properly…no matter where they work from. We’ll make sure you understand the specific state employment regulations you have to be aware of, and the state tax rate for employee withholding.
Momentum Payroll Services…powered by Gusto software.
Making payroll painless.
One of the biggest reasons we choose Gusto is because it automates so many HR, accounting, compliance and other vital business tasks. Gusto is also easy to use for both employers and employees alike.
Gusto automates employee on-boarding and takes care of calculating and filing payroll taxes for you and your employees. It keeps a record of pay stubs accessible to employees through their online profiles. Employees also get an email each payday letting them know their money is coming in.
Contractor payment is just as easy. Setup a profile with their W-9 information and pay rate and you can enter all contractor payments in one sweep and set payments to be delivered via direct deposit. Gusto tracks contractor payments and generates a 1099 form for each contractor each year.
Gusto files employee W-4s and contractor W-9s as part of their profile setup, and it creates and distributes W-2 and 1099 forms each January for tax returns. You can also elect to have Gusto automatically file a new hire report in an employee’s state when you hire them.
When it comes to managing benefits, Gusto enables you to purchase group health, dental and vision insurance plans and administer benefits on the platform. Employees will be able to opt in or out of benefits through the platform, as well. You can also administer flexible spending accounts and health savings accounts and a variety of retirement plans (e.g. IRAs and 401Ks) and/or a 529 college savings plan.
Momentum Payroll powered by Gusto highlights
Our tech experts fully integrate Gusto into Quickbooks Online or Xero to create an automated, streamlined, error-free payroll solution for:
- Employee On-boarding —
- New state registrations & compliance
- Pay rates (salary/hourly)
- Commissions and bonuses
- Expenses and reimbursements
- Time tracking
- Benefits (health insurance, 401k)
- Withholding taxes
- Paid time off tracking
Simplify payroll and give your business a Momentum boost.
With payroll off your plate, you can focus on the things that really matter – how to grow the business, and how to improve customer and employee satisfaction.
Want a better way to do payroll?
Stop juggling. Start focusing.
“If you need more (beyond just bookkeeping), then it’s a no brainer, they are awesome and they will be there as you grow.”