How Do I Process Payroll?
We get this question a lot…and here is some information about how we do it.
Our preferred payroll provider is Gusto, which is a wonderful, easy to use payroll processing software. Gusto also integrates with Xero and T-Sheets, and has amazing customer support for any questions or concerns.There are 3 ways to pay your employees: salaried, payroll and contractor.
For salaried employees, you pay a fixed amount every month, every two weeks or every week – whichever pay schedule works for your company. There are options to add recurring reimbursements, run bonus or off-cycle payrolls in case you forget or are not able to process during the regular time frame given.
Hourly payroll can also be processed on various schedules and you pay the employees for the hours worked within the period. There are options to add overtime, tips, reimbursements and bonuses as well. Both salaried and hourly payrolls deduct payroll taxes from the employee and employer, but Gusto makes all the government agency payments for you, so no need to worry.
The third method to pay your workers is contract pay. No payroll taxes are withdrawn from either employee or employer, but the employee will be responsible to report his earnings at the end of the year and pay any taxes due. There are options to either pay a set amount or hourly pay for your contractors. Gusto provides a variety of options for any company to utilize, like benefits and team insights (You can email your employees anonymous surveys every month that asks a few pointed questions about their work and company. Feedback can be used to build a happier workplace). Some levels of subscription can also utilize the time tracking software.
We are here to help with any questions! Contact us today!