A Professional Employer Organization (PEO) can efficiently replaces the HR duties and responsibilities of every business. It will simplify the HR processing to enable the businesses to concentrate on their core responsibilities. Employers can focus more on profit generating tasks such as increasing productivity and reducing costs, rather than setting apart a large amount of their resources for hiring, training, and managing the workforce, administering their benefits, processing payroll, assessing their performance, and administering workers’ compensation. PEOs establish a co-employment relationship with the client company by which they share the employer responsibilities.
PEO payroll service processing as well as the administration services provide businesses the necessary focus to devote their workforce and resources to their core responsibilities. Payroll outsourcing services give you a great opportunity to concentrate on the basic aspects of your business, leaving other jobs like processing payrolls to a PEO company. The payroll processing and administration solutions offered by PEOs include:
- Filing the quarterly reports such as FUTA, FICA, SUTA
- Federal payroll breakdown
- W-2, W-3, and 1099 forms
- Wage/hour law compliance
- Management of paid leave program (if applicable)
- Comprehensive payroll deductions
- Vacation & sick time accruals
- Department summary
- Multiple worksites
- Payroll preparation and delivery
- Payroll taxes and filing
- Section 125 for pre-tax services administration
- Payroll deductions, levies, and garnishments
- Flexible accounts for expenses
- Federal as well as State payroll taxes’ deposits as well as the returns
- FIT, FICA as well as SIT withholding taxes
- Customized payroll reports
- Audits and job costing reports
- Cost allocation reports
- Updated employee files
Payroll processing as well as the administration is just the only one of those in HR payroll outsourcing services being offered by some of the professional employers’ organization. PEOs have extensive experience dealing with many businesses. They also maintain a deep relationship with insurance providers which really help them offer competitive workers’ compensation plans. The experienced staff that makes up a PEO knows all about federal and state regulation. They can, therefore, ensure your business satisfies all government norms. In short, your relationship with a PEO results in a winning combination, arming you with all the resources you need to succeed in a competitive environment. PEO payroll processing and administration services eventually help businesses increase earnings through streamlined processes.
Comprehensive Outsourcing Services Offered by the PEO
Payroll administering involves more than handing paychecks on time. It includes filing unemployment claims, managing employee issues, maintaining records, and other time consuming responsibilities. All these are taken care of by the PEO, as it assumes liabilities for payroll taxes, reporting, and audits. The PEO also offers customized payroll reports, W-2, W-3 and 1099 forms, payroll deductions, job costing, garnishments and levies, audits, updated employee files, and more. PEO payroll services and administration services can be customized according to the needs, and short term and long term objectives of the client company.
Count on Kruse PEO for efficient payroll processing services that will contribute to the overall efficiency of your business. Our payroll and tax administration services save costs and reduce time spent processing payroll.