Easy Ways to Keep Up with Payroll Deadlines throughout the Year
Filed under: Payroll
Whether you have one employee or hundreds of employees, it is essential that you have a good system in place to keep up with payroll requirements throughout the year. Employee satisfaction is directly tied with payroll consistency, and missing these deadlines can cause dissatisfaction among your workforce.
Payroll Deadlines to Monitor
Are you meeting all of the payroll deadlines that come through on a weekly, monthly, and annual basis? As a business owner, you might not be aware of the some of the deadlines that need to be met. Some of these deadlines are obvious, such as payday on a biweekly basis. But, other deadlines can be easily overlooked, such as employment tax payments and other types of tax forms.
For example, as an employer, you are required to provide each employee with a tax form by January 31st each year. This document is needed so that they can file their tax return for the year. Failing to provide these tax details or sending the forms late could result in tax penalties for your company. Be sure that the forms are postmarked in time every year!
Putting Systems in Place
The best way to keep up with these deadlines is to have the right systems in place. For example, you might consider setting up calendar reminders that will notify you a few days before the payroll deadline comes up. Another option is to have a calendar on the wall with the payroll deadlines marked in bright colors.
As a business owner, you should consider the benefits of outsourcing your payroll services to an outside company. You already have plenty of responsibility on your plate without worrying about payroll processes and deadlines. By outsourcing payroll, you will be able to free up your time to focus on bigger issues within the company. Many business owners agree that these payroll services are invaluable to help their business prepare for future growth and success.
Is it time for you to implement a better payroll system for your company? Contact our experienced team at R&R Payroll & Bookkeeping Services for more details about the services that are offered: (951) 296-0412.
