Preview Mode Links will not work in preview mode

Back office support can make or break your construction company and that’s where we come in. We can do you the most good by bringing order to your chaotic contractors bookkeeping mess! Most of our clients come to us because they believed they needed someone to straighten up their contractors bookkeeping services system, help them get current or quarterly payroll tax filings, sales tax returns and a variety of other tax issues. That is only the tip of the iceberg! 

The real value in working with us is not just getting you out of trouble now but keeping you out of trouble in the future so that you can focus your time and energy where it will do you the most good…acquiring profitable and pleasant customers and clients and satisfying their needs. 

 

Warm Regards,

Randal DeHart | Premier Contractors Accountant

 

This is one more example of how Fast Easy Accounting is helping construction company owners just like you put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com

 

Thinking About Outsourcing Your Contractors Bookkeeping Services?

Click On The Link Below:

www.FastEasyAccounting.com/hs

Need Help Now?

Call Sharie 206-361-3950

sharie@fasteasyaccounting.com

© 2018 Fast Easy Accounting     (206) 361-3950 | Disclaimer | Privacy Policy | Security Policy | Terms Of Service | Contact Us | Refer A Friend

Nov 2, 2018

This Podcast Is Episode Number 0293, And It Will Be About Systematic Payments: Why Should Businesses Use Payroll Service? 

 

Today's Guest Article Is From Sheena Justine Baxter

Content Writer And Editor

Running a small business can be hectic. There are plenty of tasks for a business owner to oversee when handling the managing of daily operations. Inspecting staffing requirements, attendance, business reviews and more, can fill its plate on a daily or weekly basis. Completing payroll is another task that must be done once or sometimes twice a month, depending on the pay periods.


These need to be completed on the specified date without delays and must be completely accurate. Even the slightest mistake may cast doubt on the business and employees will quickly become demoralized – starting a chain reaction that threatens to derail the entire operation.

It is quite common for disgruntled employees to seek help from government labor enforcement agencies; seeking retribution for what they see as unfair and unsound business practices being employed.

What’s wrong with completing it manually? It’ll cost me less.

Many small business owners complete manual processing of payroll to lower overhead costs of operation. While this seems like a good idea on paper, it really isn't. Thinking big means to prepare for an eventuality of growth and processing payroll for each and every employee individually doesn’t say much for that business owner’s vision of the future.

Manually completing payroll is time-consuming and more than likely to result in a few errors along the way, especially when a business owner is dealing with a staff of 50-plus heads.

However accidental they are, if these discrepancies become frequent, the owner will most likely be certain to face angry employees, or worse, angry tax authorities. Making a small investment now is better than incurring casualties.

Completing payroll isn’t that difficult. What’s the big deal?

It is the employer’s responsibility to calculate tax and there are federal, state, and local payroll taxes that need to be applied per payroll per person.

According to the National Small Business Association (NSBA), 1 out of every 3 small businesses spends an average of 80 hours each year filing taxes, including the ones on a payroll. 80 hours that could have been spent elsewhere; perhaps, focused towards other useful initiatives that would actually help the business grow.

Checking an employee’s worked hours and multiplying it by their rate of pay isn’t the hard part of doing payroll manually. That’s just the tip of the iceberg. Putting all mention of taxes aside, a small business owner will also need to account for overtime work hours, vacation leaves, bonuses or compensation, health and medical benefits, and possibly much more.

The average amount of time that it takes to complete manual payroll processing for a single employee (and this is not even taking into account the aforementioned overtime work hours, etc.) is about 11 minutes.

Multiply that by the total amount of heads that are currently employed, and bingo, someone’s missing the bus ride home.

Okay. What’s the solution then?

The solution is to invest and apply for a payroll service. The primary advantages of a small business owner using a payroll service are numerous hours saved and no liability for errors. If mistakes occur, it now becomes the payroll service’s responsibility to correct and take ownership of the problem. Besides that, there are many other benefits to reap.

Depending on which type of service is being used, the enrollment fee may either be one-time or a monthly subscription fee. Additional features that payroll services offer typically come with an additional fee on top of the upfront cost.

A smart business owner will analyze the needs of his/her business and choose a payroll service that fits right in the groove. Are only the basic functions required, or are additional services needed?

Well, what ARE the other benefits of using a payroll service?

Many payroll service providers offer cloud-based platforms which means that payroll can be accessed and run remotely from any location within minutes. No need to install software or invest in hardware and servers.

Upgrades to the platform are done automatically. Payroll service providers make use of the best security encryption methods to ensure that employees’ sensitive information is safe.  

A good payroll service provider will also provide round-the-clock support for its clients; to assist in case any technology-related issues arise.

One viable option for a hesitant business owner is a free trial run. Some payroll services will allow clients to use the platform for a limited amount of time at no cost just to get a feel of the system and grease up the gears. If there’s anything unsatisfactory about the platform, just cancel the subscription; no harm done.

Integrations are an add-on feature that will definitely cost something extra but which are a worthwhile investment for businesses that utilize accounting, timekeeping, and scheduling applications. Integrations will allow the payroll service to blend in nicely with all of the current software being used by the business, making it a breeze to cross-reference worked hours and calculate pay rates.

Automation and mobile access are another few nice extra pieces of tech thrown into a payroll service provider’s arsenal of features. If a payroll pay period is the same day every month, the system can be configured to run at a preordained date and time. Just hit a few buttons, provide approval, and that business owner is off to catch happy hour.

Being able to configure these functions via their tablet, laptop or smartphone only makes it THAT much easier. Gone are the days of keeping stacks of dusty ledgers filled with names and numbers from months and years past.

Another great feature that business owners can take advantage of is the powerful reporting options included by most payroll service providers. The payroll data can be spliced, pivoted, graphed, and PowerPoint-presented in a way that manual processing of payroll would never have even dreamed of.

You’re starting to sound like a salesman. Isn’t there any risk involved with this?

Like with any other IT system, payroll platforms can have weak points. Some of the more notable areas of opportunity for these providers are in relation to data and cybersecurity.

It’s important to note that although most providers use top-of-the-line security systems to run a tight ship, this fact should not be taken for granted and a business owner has every right to ask questions about the security standards being employed.

Data loss is a rare occurrence but one which nonetheless can have serious implications if the information cannot be retrieved. This usually happens during a server malfunction or crash. Most reputable payroll service providers have backup systems in place to work as a failsafe but it doesn’t hurt to do some research in advance.


CONCLUSION:

In summary, there is a small element of risk involved (as there is with any investment) but the advantages far outweigh the disadvantages. Payroll service is simply an evolutionary step that a small business needs to take if it intends on transitioning to the big leagues.


 About The Author:

Sheena-Justine-Baxter-Guest-Article-Writer-Fast-Easy-Accounting

Sheena Justine Baxter has been working as a content writer and editor for 5 years. She has written different articles but focuses more on industry-related subjects. Prior to her online career, she used to work for a manufacturing company as an HR personnel, meeting and evaluating applicants on a daily basis.


The Information Shown Below Is From Fast Easy Accounting

The Information Shown Below Is From Fast Easy Accounting

OUTSOURCED ACCOUNTING FOR 
THE BUSY CONTRACTOR
IN A MOBILE ENVIRONMENT

 

Outsourced-Accounting-For-Contractor-Fast-Easy-Accounting-1-800-361-1770

contractor-quickBooks-and-xero-templates-from-fast-easy-accounting-1-800-361-1770

Download The Contractors APP Now!

Access code: FEAHEROS

Fast Easy Accounting App For Construction Contractors And Other Business Owners

The QR Code Below Will Go

Apple Or Android Store

Whichever One

You Need

Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7.

Access code: FEAHEROS

Or click to download the Contractors APP now from the App or Android store

   Available on the App Store ANDROID APP ON Google play

Click here to download the App on iOS:

Click here to download the App on Android:

 

Contractor Bookkeeping Services All Across The USA Including Alaska And Hawaii

I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person.

We Remove Contractor's Unique Paperwork Frustrations

We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company!

That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance.

You Deserve To Be Wealthy Because You Bring Value To Other People's Lives!

I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast

This Is One more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that, and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com

Contractor Bookkeeping Done For You!

Construction Accounting Specialists At Fast Easy Accounting 206-361-3950

Thinking About Outsourcing Your Contractors Bookkeeping Services?

Click On The Link Below:

www.FastEasyAccounting.com/hs

This guide will help you learn what to look for in outsourced construction accounting.

Need Help Now?

Call Sharie 206-361-3950

sharie@fasteasyaccounting.com

Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services.
Bye for now until our next episode here on the Contractors Success MAP Podcast.

 

Our Workflow Removes Your Paperwork Frustrations

For Contractors Who Prefer

To Do Your Bookkeeping

Fast Easy Accounting Do-It-Yourself
Construction Accounting Store Is Open

Accounting-Solutions-For-The-Busy-Contractor-Fast-Easy-Accounting-Store

Most Contractors Setup QuickBooks Or Xero Online Accounting Using:

#1 EZ Step Interview inside QuickBooks Setup
#2 Asked Their Tax Accountant To Setup QuickBooks
#3 They Attended A How To Setup QuickBooks Class Or Seminar

And QuickBooks Does Not Work The Way They Want It Too!

The Answer:

#1 Click Here To Buy An Entire QuickBooks Setup For Your Specific Contracting Company

#2 Click Here To Buy Just The Chart Of Accounts For Your Specific Contracting Company

 

QuickBooks Set Up For Contractors And QuickBooks Chart Of Accounts For Contractors

Short List Of Construction Contractors We Serve

Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor

Additional QuickBooks Templates, Resources, And Services

QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting


We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed

Please Do Not Be Concerned Because If You Are A Contractor

There Is A Good Chance We Can Help You!

Call Now: 206-361-3950

 

Additional QuickBooks Templates, Resources, And Services

QuickBooks Set Up Templates   Solopreneur

QuickBooks Chart Of Accounts     Free Stuff

QuickBooks Item Lists Templates     Consulting

 

We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed

Please Do Not Be Concerned Because If You Are A Contractor

There Is A Good Chance We Can Help You!

Call Now: 206-361-3950

QuickBooks Chart Of Accounts Set Up General.png

If you are a blogger, who writes about construction we would like to hear from you.

https://www.fasteasyaccounting.com/guestblogger

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Systematic_Payments_Why_Should_Businesses_Use_Payroll_Service