Introduction
Even the most meticulous and experienced professionals in the United States find that payroll can be a headache. Slap on a stiff penalty for a tax filing omission, and now we’re talking a full-blown financially-induced migraine!
For many US businesses, payroll service providers offer an attractive and valuable alternative to in-house payroll processing. Chosen correctly, they provide a less expensive, simpler means of paying your employees, filing your taxes, payroll returns, and performing a host of other duties these payroll service providers can’t wait to tell you about.
However, choosing poorly is like starting a new job you weren’t right for in the first place — it’s a hassle to leave, but if you stay, you’ll be perpetually frustrated.
Businesses at an early stage e.g. start-ups or small companies, often initially process payroll themselves for any number of the following reasons:
–       They consider in-house processing to be more cost-effective than outsourcing-       They are protective of wage information-       They want to maintain control over payroll data to handle last-minute changes.
In truth, smaller businesses with a stable, salaried staff and minimal changes in tax obligations may well be better off processing internally; it can certainly be more convenient and efficient if your needs are straightforward. But many ultimately discover it’s not all that cheap — especially when you factor in the time spent managing the process, hiring payroll specialist employee – part or full time, maintaining infrastructure for the same in office etc.
Plus, without the proper knowledge of payroll procedure and access to a sound payroll software, it’s easy to make mistakes. Employees as well as federal, state, and local tax collection agencies need to be paid in full, on time, and in the proper manner. Usually, late payments are cause for monetary penalties.
Finally, using a payroll service provider can ease your mind. Some reports quote the US Internal Revenue Service reporting that one out of every three employers have been charged for a payroll mistake, with total penalties reaching into the billions of dollars. And given the ever-changing nature of tax regulations, it’s easy to make an error that can grossly affect your bottom line.
GJM & Co. can help you select the right payroll service provider — as well as coach you on switching to a new one if you need to change. In addition to offering up the nitty-gritty on payroll services, we will simplify the industry and empower you with solid working knowledge to apply to your search for a provider.
When to Outsource?
While the majority of U.S. businesses process pay checks internally, this is not always cost-effective. At minimum, internal payroll processing requires the purchase of a computer or manual/cloud accounting program and extensive training to use it. In addition, businesses need to keep up to date on changes in personnel, deadlines, and tax requirements on an ongoing basis.
Using a payroll service provider generally makes sense if your payroll changes with each pay period. If your company has employees working varying amounts of hours each week or has a significant turnover rate, a payroll service provider can be a time-saving and cost-effective alternative to internal processing. Using a payroll service can also be helpful if you have to pay payroll taxes for multiple states.
On the other hand, you could engage an accounting firm like GJM & Co., at a nominal cost, which is expert in managing payroll processes with such Payroll service providers that could relieve you of the internal tasks involved in providing the data for employees salaries, their hours, days, PTOs etc. to the Payroll service provider periodically in line with the pay cycle (be it weekly, bi-weekly, semi-monthly or monthly)
Services provided
A payroll service provider’s basic services include calculating payroll and tax obligations through their robust technology platforms that are constantly updated for any tax regulatory changes, process the employee and tax payments via direct deposits, and providing management reports to you as the employer for payroll accounting.  An accounting firm like GJM & Co. can take care of the payroll accounting too.  Payroll payments can be issued on a weekly, bi-weekly, monthly, semi-monthly or yearly payroll basis.
In addition, payroll service companies also offer plans above basic services that file the payroll tax returns every quarter and issue W-2 forms annually, offer tie-ins with 401(k) and mutual fund plans allowing employees to designate automatic deductions from their pay checks. And for larger companies with more complex processing needs, some payroll service companies have even begun to offer integrated HR software systems that track employee benefits-related information in addition to regular payroll data.
Pricing
Our best picks of payroll service providers today include Intuit QuickBooks Payroll, Gusto, ADP, Paychex, OnPay, Trinet, JustWorks.  These Payroll service providers have different plans offered encompassing different services that best suit your organization and at different prices which are economical.  We at GJM & Co. could help you choose which payroll service provider would be best fit for your business.To conclude, ranging from small start-ups to large enterprises, payroll is a challenge for all types of businesses, given its tedious computations, ever changing legislations, error risks in absence of an expertise. GJM & Co. take care of these issues by supporting you manage your payroll smoothly. We assist you in making the right choice for your Payroll software by assessing your organizational requirements (health insurance, 401k and more). Our dedicated payroll expert shall coordinate with you – weekly, fortnightly or monthly, to gather your employee attendance (Hours, Leaves/PTOs etc.) and process the payroll for you through these Payroll service providers in no time assuring timely employee remunerations.
Engaging us as your accountants will also assure your Payroll is accurately accounted into your accounting software to keep track of your Employee costs.  Our clients always rest relaxed about their payroll obligations as they are aware we are on toes for them in managing their show.
Our payroll team is experienced with a number of payroll service providers and their software platforms e.g. Intuit QuickBooks Payroll, Gusto, ADP, Trinet, JustWorks, Namely, Insperity, Zenefits and more!

For any queries, feel free to write to info@gjmco.in or Call us