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Your employees are some of your most valuable assets, and payroll is the way you compensate them for the work they provide. It can take the form of cash, medical benefits, and other associated perks, all of which add to a package’s total value. Compensation can play a major role in your ability to recruit the best talent, it can help your reputation as a company, and it can serve as a barometer of your success within your industry. But payroll is more than just calculating withholdings and cutting checks.
Whether you have a dozen employees or a hundred, payroll is an important enough function that it’s worth it to engage a professional to make sure it’s done right. GraphX’s payroll services help keep your business running smoothly by keeping those valuable assets financially compensated, in full and on time.
We understand the nuances of payroll. Payroll can get complicated. Benefit arrangements can be complex. Government regulations and tax procedures change on a seemingly weekly basis. Our team of experts is trained and skilled at administering payroll according to industry best practices, and in researching and applying the most up-to-date regulations and procedures. This keeps your employees happy, and it keeps you safe from the legal hassles associated with improperly managed payroll taxes.
We have connections. GraphX has close working relationships with most leading payroll processors. Functioning as your de facto payroll manager, we can leverage those relationships on your behalf to get the most out of your current infrastructure, improve service levels, and decrease the costs associated with outsourcing your payroll functions.
Employee relations are more pleasant when you aren’t thinking about money. You have a responsibility to cultivate a positive working relationship with your employees. When neither of you is worried about paychecks, benefits administration, or taxes, you can focus on professional performance and your ability to function as part of a company unit. We’ll handle the less-friendly aspects of the employer-employee relationship so you don’t have to.
Our end-to-end system keeps things connected. Our comprehensive suite of financial services is driven by a system that integrates the accounting functions you need. Slow data transfer, misplaced documents, transcription errors, systems that don’t communicate – anything that slows down the process and makes it less efficient ultimately costs you money. When payroll is in communication with general ledger and accounts payable, our job is more effective and your business runs more smoothly.
Keeping your workforce organized, informed, and compensated is good for your business and your reputation as an employer. We handle the essential functions associated with starting, performing, and, when necessary, ending work at your company.
New hires. We make new-hire payroll setup easy, from processing paperwork and arranging initial payments to complying with regulations for reporting and hiring compliance. You just focus on getting your new hire settled in.
Time and attendance. If you’re still using paper timesheets or out-of-date software, we can help get you up to date with systems that maintain records and reports that make the payroll process that much smoother. Keep accurate track of time, attendance, and time-off accrual so that you can allocate labor and monitor productivity.
Terminations. No one likes to think about terminating employees, but it does have to happen from time to time. GraphX takes some of the sting out of the process for you by managing the final disbursements – earned and unpaid wages, unused time off, severance – and generating detailed records for future reference, should a dispute arise in the future.
Producing and distributing payments may be just one aspect of the entire payroll process, but to your employees, it means everything. We work with your payroll processor to get all payments made in a timely and efficient manner, based on a system customized to your needs for payment format, scheduling, or other specifics.
Payroll checks. Like you, your employees have expenses that can’t wait to be paid just because a paycheck came in late. We schedule check preparation and mailing to make sure they arrive on time, in the right place, in the correct amount.
Direct deposit and pay cards. Direct deposit and payment cards make things easier for you and for your employees. With funds transferred directly from your account to theirs, or from your account to a prepaid card, neither of you has to spend time or expense processing checks or going to the bank. We manage the process of getting direct deposit established and approved for your employees, and we see the payment through from electronic beginning to end.
Tax filings. Governmental regulations surrounding employer payroll tax can be confusing and ever shifting, and you don’t have to worry about it with our team of experts in charge of payroll tax filing and compliance. We’re able to avoid over- and under-deposits and late filing fees, to keep you from spending as much of your revenue on penalties as you do on paychecks.
Payroll reports. Each payroll transaction is imaged and routed to you, securely and electronically, for approval. After all of the payments have been distributed, we provide a report with details of all of the transactions for your – and your employees’ – future reference, on demand and on a regular schedule tailored to your needs. We also maintain the reports on a secure server for easy and safe access when you need them.
Paying your employees isn’t an isolated task within your financial operations. GraphX manages all of the functions associated with employee compensation.
Bookkeeping. Tracking transactions is key to accurate bookkeeping – and that includes payroll. Following paychecks from accounts payable all the way to the general ledger makes sure that your financial status is accurate up to the minute, whenever you might need to look. Audits, reviews, and annual reports become easy when all of your data is entered on a regular basis and stored in a single location.
Cash management. As a recurring expense and an essential part of your business, payroll should have a prominent role in cash management and cash flow planning – both to make sure you’ll always have the liquid assets available to process their paychecks, and to project future opportunities to increase your workforce and expand your business.
Employee reports. Looking at the expenses and output associated with a given employee can help you decide where they belong in your organization. Maybe they’ve earned a raise or a bonus – or maybe they’re in need of counseling or training to get their work up to your standards.