HOW TO USE PAYROLL REPORTING FOR YOUR COMPANY
Are you required to complete payroll reporting on a regular basis? If so you may know that this can be a long process as there are many forms that you are required to fill out. When you are filling out these forms you will want to be very careful not to make any mistakes as they can lead to the process taking longer. Another reason to avoid mistakes is that it can end up costing you money in fines. So if you are trying to fill out payroll reporting forms you may want to read this article as it can help you identify some of the places where most people makes mistakes on these forms. The first mistake and most common mistake is that employees and employers are not properly identified.
The IRS (Internal Revenue Service) and the SSA (Social Security Administration) use both a person’s social security number and the nine digit employer identification number for employee identification purposes. To avoid this mistake it would be wise of you to double check all of your employee’s numbers on all your payroll reporting forms before you turn them in. The second common mistake that is made in payroll reporting is reporting wages for an employee that has passed away. These payments are not considered to be wages and will have their own separate box in the forms for listing these payments. So if you have an employee that has passed away you may want to make sure that you put these payments in the correct section as to avoid having issues later. The third common mistake made in payroll reporting is having an out of balance report.
This can happen for several reasons such as decimal errors when filling in dollar and cent amounts. When you are filling in these forms it is important to double check your numbers and make sure that you always use dollar and cent amount even if the dollar amount is even. When you are trying to fill out your payroll reporting forms and feel that you may need some help you should consider hiring a professional company to help you. In order to find a company that can help you with you may want to conduct some research before you hire a company. There are many different companies out there and each company may charge differently and knowing how much you will be paying can help you decide which company you would like to hire. If you have found that you would like to hire a company to help you with your payroll reporting and have not found that perfect company yet you may not have looked at Chesterfield Group. This company can help you fill out your forms properly so that you do not have the IRS or SSA coming back at you because you accidently left out a number in an employee’s identifying number. So when you are looking for a company to help you with this today, contact this company as you can be assured that they may be your one stop company for help with this process.