The Importance Of Getting Payroll Right

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The Importance Of Getting Payroll Right
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• Payroll is perhaps one of the most important
  elements of a successful business, as precious
  few companies exist without the help of a team of
  employees, and when they are not paid on time or
  their salary is not accurate, you stand a good
  chance of them either leaving their employ or
  threatening to take legal action against you.
• Legal action is a very real threat from
  disgruntled employees, so as their employer, you
  need to do whatever it takes to ensure that they
  always receive their pay in a timely manner, and
  that it is an accurate reflection of the work
  they have undertaken.

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• Payroll can also have a significant effect upon
  staff morale and even the financial stability of
  a business, so getting it right is incredibly
  important.
• How payroll can affect employee morale
• Employees of smaller businesses tend to be more
  aware of the companys financial stability and
  will be quick to react if they get a sense that
  they are not being paid fairly, or that their
  timely pay is not a priority for their employer.
  Inaccurate, late or unfair pay will cause
  employees either to walk away from their role,
  underperform, or even to take legal action
  against you.

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• The importance of compensating your employees
• Being able to appreciate their net worth within a
  company, is hugely significant to employees, and
  their total compensation is built into payroll,
  such as their salary, benefits and bonuses. There
  are usually financial rewards for those employees
  who have proven their worth in annual performance
  assessments and awarding them with benefits tells
  them that you value them as people and as members
  of your workforce. Health and life insurance, and
  pension benefits all play their part in
  encouraging employees to feel worthwhile and
  valued, and they are an important element of
  payroll.

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• Consider outsourcing payroll
• Getting payroll right can be a time-consuming
  task for any business owner, and if employees are
  not paid the correct amount, withholdings are
  inaccurate or state and federal tax deposits are
  not made in a timely manner, then these errors
  will quickly catch up with you. The single most
  effective way of ensuring that payroll is
  completed accurately, is to outsource the task to
  a company who specialize in providing payroll
  solutions. Not only do you ensure that your
  employees remain content, but you will have more
  spare time to work on other equally important
  aspects of running a business.

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• Get payroll right and your taxes will be lower
• If payroll is not being undertaken accurately,
  then you face the prospect of paying higher taxes
  than you deserve. Employees need to complete W-4
  withholding forms correctly and business owners
  need to ensure that they are withholding the
  rightful amount of FICA taxes every year from
  payroll FICA percentages may vary based upon
  changes to legislation.
• Get payroll wrong, and it wont be long before
  you begin to face an unhappy workforce,
  potentially higher taxes and the unwelcome
  prospect of legal action. Get advice and guidance
  from a payroll professional and take the worry,
  stress and hassle out of payroll.

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• Apollo Payroll is one of the premier small
  business payroll services companies in Miami and
  Coral Gables. Apollo Payroll is dedicated to
  delivering expert advice, responsive service, and
  highly accurate payroll processing and reporting
  to ensure the success and growth of the business
  that we serve. Our services include comprehensive
  payroll services in Miami Gardens and other
  cities in Miami- Dade County, employee background
  check and group health insurance in Coral Gables
  Miami.