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HR Services Overview

Payroll

Payroll Processing – Includes Direct Deposit at no additional cost.  Offering added security and convenience for you and your employees while eliminating Fed-Ex and delivery fees of checks. You still receive a copy of all payroll records but unlike a standard payroll service, there is no additional per check or per employee fee.  In addition, Paymasters maintains a hard copy of all payroll and timekeeping records for the added security of an offsite backup.

Facilitate Personnel Files – Paymasters offers facilitation of employee personnel files.  Any information or reports pertaining to a particular employee may be copied and forwarded to Paymasters.  Any forwarded individual employee information will be kept at our office as a backup personnel file.

Audit Protection - Should you be audited by any local, state or federal agency in conjunction with your payroll, Paymasters will facilitate the audit and produces any available documentation the auditing agency may require.  (Note: having an independent HR provider process your payroll and time is a lot like having an accountant prepare you personal tax return.  Not only can it greatly reduce the chance of an audit; it adds credibility to your system in the event of an audit or reported discrepancy).

Tax Collection \ Distribution – As with most conventional payroll processing companies, Paymasters prepares all quarterly and annual payroll reports at no additional charge.  Additionally, Paymasters collects and distributes all payroll taxes for your company including FICA (941 deposits), FUTA (940 deposits) and SUTA (state unemployment).  Paymasters also handles all garnishments and other deductions including child support, student loans, 401k and insurance.

Bank Reconciliation – Since all payroll is run through Paymasters banking accounts, there is no bank reconciliation for the client.  Just a simple invoice with payroll, taxes and other fees itemized and totaled for accounting entry.