Payroll: Company Spotlight

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Company Spotlight:

Every few months, eLocal will profile a business that can bring added value to its advertisers.

This month, we focus on Exact Payroll, an automated payroll and financial services company.

Payroll: An Exact Science
Get a handle on your financials with Exact Payroll

Of all the aspects of running a business, financial issues, such as payroll and taxes are often the most overwhelming. They require an understanding of federal, state and local tax laws, mixed with knowledge of accounting and human resource issues, not to mention the ability to wade through mounds of paperwork. With an area such as this, mired in confusion, it is often tempting for small business owners to cut corners or ignore certain issues all together. This can lead to a financially burdensome tax surprise at best, and often costly legal trouble, at worst.

Why not take these issues off your plate, and focus on what you do best?

Exact Payroll
a payroll company specializing in small to medium sized businesses and contractors, can take the reins on all of these issues and more, allowing you to put the spotlight where it belongs: on growing your business and satisfying your client base. Whether you have an on staff bookkeeper, have outsourced before, or have a drawer of cash and scraps of paper as your financial records, Exact Payroll can make sure that all your financials are in order, keeping your business in legal compliance and your employees on the up and up as well.

Exact Payroll’s compensation services range from complete turnkey, fully automated paycheck distribution to simply taking over the portion of payroll that you may find too daunting and time consuming. They can pay your employees by check, cash, direct deposit to their bank accounts, or even with a company issued debit card. Exact Payroll will also keep track of the taxes you owe and will let you know how much cash you need to meet your payroll and tax obligations throughout the year.

And, when tax season comes, you are bound to save money and time with your accountant because Exact Payroll will have all your financial records prepared. There will be no need to dig through your truck or your office for bank statements, employee forms, or payroll records. If you have never used an accountant, Exact Payroll can take care of all your tax needs including preparation, filing, and even online bill pay.

Another confusing issue for many business owners is the issue of Worker’s Compensation. If an employee gets injured on the job, there is a mountain of paperwork to fill out, especially if your employee is a union member. Exact Payroll can help you keep detailed records on all work-related injuries to help you limit your liability and workman’s compensation claims. You are required by law to purchase workman’s compensation insurance. If you have been avoiding this extra cost, you could not only be sued by your employee, but also have massive legal issues ahead of you. Often, it is the large outlay of cash for these policies that make them so unattractive. Exact Payroll can not only find you a great deal on worker’s comp insurance, but can break the cost of the insurance into interest-free monthly payments, lightening the financial burden of staying legal and protecting your employees.

When you hire someone new, Exact Payroll can help you make sure the new employee is easily integrated into the rest of your workforce. First, they offer background checks; being able to boast to your customers that your employees have been thoroughly investigated is a sure-fire way to instill comfort and confidence in your business. Also, Exact Payroll will file all new-hire information, such as W-4s for full employees or W-9s for independent contractors. And, at the end of the year, those employees can log on to Exact Payroll’s website and print their own W-2s or 1099s. If some of your employees are under obligation to pay child support, Exact Payroll can automatically make those deductions and send them to the appropriate agencies.

Exact Payroll can even take care of creating and managing the schedules of your employees. The company will help you create a customized schedule that can be sent via email or text to your workforce for approval. Your employees can electronically confirm the shift or even trade it with another employee. The company can also keep track of paid vacation and sick days, personal leave or floating holidays, and show these balances on employee paystubs.

Finally, one of the most valuable services Exact Payroll offers is a Human Resources Hotline. If you are having an issue with one of your employees, whether it is regarding worker’s compensation, taxes, payments or scheduling, you can take advantage of Exact Payroll’s human resources experts. Exact Payroll makes it easy for you to consult people who can keep your actions legal and fair. It’s just one more way to safeguard your business against unnecessary surprises and aggravation.

Exact Payroll’s President, Mitchell Lightman, sums up the value of his company: “Simplify your life and avoid the drudgery of putting together paperwork while avoiding risk.”

For more information on Exact Payroll
visit www.exactpayroll.com, or CLICK HERE to get the special discounted rate for eLocal advertisers.