When your business works with a trusted partner to manage your payroll operations, there may be a few questions that come to mind. For example, you might be wondering how long does payroll take to process?
In this guide, we are going to cover some of these most-asked questions to help you get a better understanding of the payroll process. If you are looking to work with a payroll company in New York, contact us today for more information
At TBM Payroll, we act as an administrative services only (or “ASO”) provider for your business. What does that mean? Here is a simple explanation:
ASO providers perform administrative payroll tasks on your business’s behalf. As the business owner, you continue to fund your own benefits and payroll while maintaining exclusive liability.
Rather than selecting a predetermined package, the ASO structure allows business owners to exercise greater control over the benefits they offer as well as payroll methods. In exchange, the ASO partner will manage the administrative processes of these financial aspects of your business. You can trust that your business’s financial aspects are being managed by professionals while adhering to your preferences.
Running a business involves meeting many different financial obligations both internally and on local, state, and federal levels. Whether you are operating a sole proprietorship or a large corporation, you are likely communicating frequently with an accountant and human resources professional.
Employees and contractors deserve to be compensated consistently and on time. By entrusting your payroll operations to a dedicated provider, you can rest assured that those who help you succeed are receiving the pay they are owed in an efficient and timely manner – resulting in one less requirement that might distract you from your core business responsibilities.
Depending on your preferences and what makes the most sense for your business, there are a number of ways that you can satisfy payroll requirements. The three most common methods are:
You can also choose the payment structure, such as weekly, biweekly, monthly, and semi-monthly cycles. Before deciding on the best method for your business, you should meet with your accountant to discuss the most suitable option that aligns best with your operations and revenue.
Determining how long payroll takes to process can depend on a number of factors specific to your business. Generally, when using an outsourced provider to manage your payroll operations, it will be processed over a total of three to five business days.
The first one or two days are when the employer completes their internal payroll processes. After this, payment is usually issued to employees within the following two or three business days.
There are a wealth of ASO providers available to choose from. When sorting through your options, look for one that demonstrates the following qualities:
As a business owner, you are spending most of your time managing your day-to-day operations. When you have a trusted team of payroll experts supporting you, you can continue focusing on the core aspects of your business with the peace of mind that a critical function is being managed for you by qualified professionals.
Partnering with an ASO payroll solution should be a seamless process – not one that introduces new learning curves or requires a crash course in the nuances of payroll processes. Look for a partner that can align with how you need or prefer to manage your payroll operations.
Do you dread tax season? Scrambling to compile accurate payroll tax data from the past year is enough to cause stress on top of the rest of your business obligations. Look for a team that provides you with comprehensive reporting that covers
At TBM Payroll, we supply ASO payroll management and administration services for businesses in the construction, hospitality, and transportation industries. With our team’s assistance, you can continue doing more of what you love about operating your business while trusting that your payroll obligations are being expertly overseen, implemented, and reported on.
To learn more about our services and how we can help your business, contact us today to speak to someone from our team or request a quote online.