Payroll accounting is the calculation and distribution of wages, salaries and withholdings to a company’s employees and agencies they may work with. All companies no matter what size are required to maintain a payroll using payroll accounting. Payroll is usually managed by the accounting department of a business; small-business payrolls may be handled directly by the owner or outsourced should they not have the capacity to handle it in house.
Payroll is rarely a fixed expense for a company and it is therefore important to ensure that the accounting team responsible is kept up to date on any changes to an employee’s position. This includes promotions/ demotions, sick leave, holiday leave and overtime. Overall payroll services are responsible for ensuring that employees receive their monthly, or weekly, salary on time.
If you are part of a smaller business which does not have an in-house payroll accounting team it is advisable to hire a professional payroll service who will be able to maintain accurate employee payment records. They will also ensure that the company is operating in line with its legal and tax filing requirements too.
Our Expert team at Brampton Accounting is here to assist you with all your payroll requirements which in turn gives you more time to focus on growing your business. We help minimise any potential losses you may face due to mismanaged payroll records. Our team has years of experience behind them making them a vital tool in your business structure. We make sure payments are made on time, 100% of the time. This means your employees stay happy and we all know that we work our best when we’re happy.
We believe that communication is a vital part of this process which is why we are always available to speak with our clients. We strive to under your business requirements so that we can then deliver the high level of work needed to help grow your business efficiently and effectively.
We provide reliable services that are tailored to meet your needs as well as keeping you updated every step of the way. In order to maintain a healthy business you need transparency and that is what we at Brampton Accounting will provide.
Let us help you!