Payroll Processing

Each business has different day-to-day concerns, but there is one headache that is the same across the board: payday. From small enterprises to the largest, you can ensure accuracy and oversight of every paycheck with payroll Dallas services at Slaton Financial.

These days, payroll services are much more than a check at the end of the week or the month.  Even to the most seasoned business professional, the number of payroll variables can be overwhelming.

Businesses face many complications due to the number of employees, compensation amounts, and federal withholding. There are also considerations such as direct deposit and the use of cash cards.

For overworked employees, it can be tempting to take a shortcut. Out of time and under pressure, a business bookkeeper may opt to run payroll and make corrections later. That can cause financial problems that take away from your ability to do business. Payroll mistakes are a big risk, affecting the budget, the bottom line, employee-employer relations, and your reputation.

Pay Day Can Be Tricky

Pay day is tricky, especially for a bookkeeper that doesn't have a handle on all of the variables.  The list starts with payroll taxes and just gets more and more complicated. Here are just some of the variables:

• Federal tax withholding
• Medicare withholding
• Social Security withholding
• Retirement withholding
• Health insurance-related deductions
• Hourly employee's vs salaried employees
• Time Tracking
• State and Local Tax withholding
• Variations in pay amounts, due to compensation levels, raises, or hours worked
• Variations in pay schedules for different types of employees
• Incorrect employee information

If these items are incorrect, even for one person, the whole system may get called into question.

From changes in social security and medicare taxes to leap years, there are all kinds of pitfalls.  Employer and employee mistakes lead to errors in personal information that can affect federal income tax for the worker and employment taxes for the boss.

Percentages can be messed up when retirement amounts are done incorrectly. Withholding too little FICA or too much can cause headaches for individual employees and trigger government oversight in extreme cases. This can cause tax filing errors that trigger audits or fines.

Certainly, no business owner wants to be forced into playing catch-up because raises weren’t implemented in a timely fashion. Nor do they want to write off overpayment to hourly employees because some software made an error. They certainly don’t want to see their payroll messed up by paying monthly when it should be a bi-weekly pay period.

This is why so many businesses utilize an outside firm to handle paying their employees.  Outsourcing locally in Dallas is a smart idea that keeps everything close at hand, but allows for independence in payroll applications.

Outsourcing Gains in Popularity

Outsourcing the paycheck process has increased in popularity over the years.  The high cost of individual bookkeepers coupled with the cost of good payroll software can be financially crippling.

Just as companies struggle with the cost of human resources, they also struggle with the cost of hiring the type of bookkeepers who can handle payroll correctly.  This graphic shows the latest trends.

Start Up Your Business With Slaton

For new business owners, there are some tips at the Small Business Administration about how to get your payroll started. If you want to make things easy on yourself, let us help you set up payroll processing and allow you time to get your business up and running.

Why Pick Slaton to Handle Your Business Payroll?

Many people ask why they should use a regional company like Slaton. Our local, Dallas-based company has roots. Slaton Financial Services is here to stay. You can count on us rather than a national or international processing firm without ties to the community.

Our roots run deep, and our knowledge is especially refined for the North Texas area.  The staff is highly trained with the certifications you expect and the software you need to get the job done right.

With Slaton, you'll have these advantages:

• You can reduce the burden on your staff and still enjoy high quality payroll processing.
• Your payroll will be done in a timely and accurate manner.
• Even if your staff is too busy or dealing with a crisis, payroll is accurate and on time.
• As a firm and as individuals, we have years of experience, skills and knowledge.
• Our large team works together to ensure your satisfaction.
• Our sizable client list demonstrates how well we take care of our business customers.
• Slaton puts a premium on honesty and trustworthiness.
• Slaton honors its privacy commitments to its business clients.
• We can help new businesses establish good payroll practices.
• We can help existing businesses improve their payroll process.
• We know Dallas, North Texas, and the entire state better than any national or international rival could know it.