Whyte & Associates, Inc. in Rancho Cucamonga, CA provides live payroll service
among other business and tax-related services that can be customized to
the needs of each business. Running a business involves time, effort,
and energy to handle all of the minute details for day-to-day
operations. Outsourcing payroll is one way to ease your stress.
Outsourcing non-core functions is often helpful for business
owners. While payroll is essential for the business to operate, it is
not the focal point that makes a profit. Non-core functions may be
time-consuming and potentially tedious yet are necessary. Your time is
better spent focusing on the money-making aspects of your company.
Payroll is often outsourced for several good reasons.
At Whyte & Associates, Inc., we offer live payroll which consists
of cutting live checks, submitting direct deposits, and printing
vouchers. Each method ensures your employees are paid in a timely,
accurate fashion. However, the methods are different. When you contact
our office for payroll services, we will work with you to find the most appropriate situation for your business and your employees.
The option that works for one business may not work for the next. Our
professional business team will explain the options for payroll and
provide you with the best services for your needs.
As a business owner, you have options on how to pay
employees. The two most common payment options are direct deposit or a
live paper check. Either method works as long as both are issued on the
regularly scheduled payday. Although employees are able to access their money more quickly with direct deposit, there are pros and cons to both methods.
Business owners and employees may benefit from the
convenience of direct deposit over live checks. For employers, software
is configured to send electronic deposits to the employees’ bank
accounts. It is a simple process and your employees wake up on payday
with money in their accounts. With direct deposit, there is no time or
money needed for filling out checks as the payments are processed
online. For live paper checks, a supply of business checks is needed.
For large businesses with many employees, you may need to constantly
order checks. Then, the checks need to be printed, which is an added
cost or they can be handwritten and distributed, which requires extra
time.
Employees can be paid by direct deposit or check. However,
employees must have an account with a bank in order to actually have
their funds deposited. Banks do not have to open accounts for everyone
and some may refuse to do so for individuals who have bad credit. To
cash a live check, anyone with a valid form of identification can cash a
check through a bank or check cashing center, although fees may
sometimes apply. Therefore, business owners can pay anyone by live check
but not through direct deposit.
Fees apply in some instances to cash checks. Some banks charge check cashing fees to cash checks for individuals who do not have accounts. Fees are not assessed when patients have their checks directly deposited.
Fraud is a big issue and unfortunately, is an idea that needs to be considered. For individuals who are worried about fraud, there may be more protection with direct deposit. With this method, employees’ bank statements may show the name of the company and deposit amount but not the business’ account number. Live paper checks contain an account number, the routing number, and the name and address of the business. That information could be used to gain unauthorized access to your account.
Many payroll companies only focus on payroll services, nothing else. This means they may not understand how payroll and taxes impact your business as a whole. Our company is experienced in a range of business needs including payroll, taxes, and business consulting. We have the experience and technology to handle the details involved with payroll preparations.
Let us ease your mind with payroll and other aspects of your business. Contact Whyte & Associates, Inc. in Rancho Cucamonga today. Call (909) 575-0080.
