Payroll Outsourcing Company - Relieve Your Business From Payroll Processing Deadlines

Author: Pete Miguel

A payroll outsourcing company relieves your business of the tasks of processing payroll, issuing checks, withholding tax and benefit deductions, tax filing, or retirement services. It manages for you your payroll functions with great accuracy, such that you would almost always no receive any complaint with tax laws and regulations. In some cases, payroll outsourcing providers could even provide complete HR services, managing the entire HR department for you.

General payroll tasks include:

- Preparation and delivery of payroll

- Reporting of payroll

- Calculate of FICA, FUTA, SUTA, Federal and State withholding

- Filing of payroll taxes

- Audits

- Updating of employee files

- W-2, W-3 and 1099 forms

- Reporting of 941 and 940

- Garnishments

- Assumption of liabilities and responsibility for payroll taxes, reporting and audits

What exactly should you look for in your payroll outsourcing company?

- Flexibility and customization-optimum mix of services for your payroll should be met, allowing employees to have an unlimited number of pay rates, job distributions, automatic payments, deductions, and taxes, payments in multiple banks. Payroll outsourcing company system should allow payments made by employees to be delineated by financial institution, flat percentage, or repeating payment amount.

- Integration-payroll system must be able to integrate with your business' current accounting software, not the other way round.

- 401(k) Administration-system of payroll processing company system should allow the employee's contribution, employer matching contribution, profit sharing, and other fund sources to be distributed independently to different chosen funds.

- Time-off Benefit Management-payroll system should allow an unlimited number of time-off benefit plans for each employee.

- Reporting-payroll outsourcing company should follow the reporting system specified by the company.

About the Author:
Do you want to learn how to effectively get your own virtual personal assistant for your business or work? Visit my site now and let your business be fully taken cared of, while you sit back, relax, and watch your profits grow. http://www.OnAssist.com

Pete Miguel is an online entrepreneur and has been involved to helping other people in achieving their goals towards career advancement.

Article Source: Ezinearticles

How To Generate Pro Forma Financial Statements For A Company

Author: Wade Anderson

Pro forma financial statements are a process of formally displaying financial projections for a given period of time and in a consistent layout. The word pro forma is derived from the Latin term which means "as a matter of form". Most businesses make use of pro forma financial statements in the executive process for planning and control as well as for reportage to owners, investors, and creditors. A pro forma financial statement is utilized as the foundation stone while comparing and analyzing information in order to give a feel to the management, investment analysts, and credit officers about the nature of the business' fiscal organization under different conditions. The American Institute of Certified Public Accountants (AICPA) and the Securities and Exchange Commission (SEC) both ask that standard formats be used when presenting or forming these types of statements.

For those who are interested in getting started in a business, the preparation of pro forma statements, both for income and for cash flow, is essential before investing any money, time and energy into the venture. Being an essential part of the planning process, these financial statements help reduce to the barest minimum, any risks associated with the start-up and operation of a business. It may be the basis of convincing lenders and investors to provide capital for a new business venture.

Pro forma financial statements must be reliable and accurate and should help those studying it to draw a true and accurate picture of the start-up firm. It should be based upon purposeful and dependable information that will go a long way in creating a true and concise projection of the expected profits of the business as well as its financial requirements in the first year of operation and after. Once the business has taken flight and the initial statements have been prepared, these should be regularly updated, both monthly as well as annually.

Most companies use pro forma statements for business planning and control. These pro forma financial statements are obtainable in homogeneous and columnar lay-outs and are used by management to evaluate and distinguish between other alternative business strategies. By judiciously presenting information concerning financial and operating statements adjacent to one another, the management is thus able to analyze the projected results of the various contending strategies and arrive at the best path and the most suitable plan of action.

While forming pro forma financial statements, companies should realize that these statements should be unique and each proposed plan or project has its own distinct features that should be accurately captured therein. The prime usage of these statements is for management to:

1. Recognize the assumptions that cause the financial and operating characteristics to produce different company scenarios 2. Build on the different sales and budget (income and expenses) projections 3. Bring together the results in the form of profit and loss projections 4. Transform such data into cash-flow projections 5. Evaluate the resultant balance sheets 6. Execute ratio analysis and compare projections against one another as well as against those of comparable companies 7. Examine proposed decisions regarding marketing, production, research and development and make an assessment about their impact on profit as well as on the liquidity of the company through simulation of competing plans, useful gains are obtained with regard to the evaluation of financial effects of each alternative plan.

With different sets of assumptions providing different scenarios regarding sales, production costs, effectiveness and practicality, projected financial statements for each such scenario holds enough information to indicate the future prospects, inclusive of sales and earnings forecasts, cash flows, balance sheets, projected capitalization, and income statements.

Company management also uses the these financials to choose from different budget alternatives. The planner will provide sales revenue, production expenses, balance sheet and cash flow statements for different contending plans and will explain the essential assumptions of each. Having analyzed this data, the management will then select the annual budget. Having chosen the action plan, all that remains to be done is to explore and find deviations in the plan and rectify them.

About the Author:
Wade Anderson is a CPA and operates DigitalWorkTools.com Legal Forms and Business Documents. Click to view Pro Forma Financial Statements

Article Source: Articlesbase

Accounts Payable Outsourcing: Things You Need To Check Out

Author: Michelle Barkley

Every individual running a business wants to be free of the burden of paying money which they owe to anyone as soon as possible. Accounts payable literally means the money which a business owes to sellers for products and services which have been bought from them on credit. If not paid in time accounts payable can pile up and spell trouble for any business. If you are finding it difficult to keep a track of the amount of your accounts payable, then get accounts payable outsourcing service from an outsourcing company. This is the perfect way to deal with this condition.

When you are running a business, keeping track and managing of things like accounts payable, can become very demanding and hectic. Nonetheless this is an important aspect of any business process and has to done and done in time. Accounts payable outsourcing services are offered by many companies which deal with finance and accounting outsourcing.

The best way for searching a firm providing accounts payable outsourcing services is through the internet. The internet is a storehouse of information, and all you will have to do go online and search for information. The numerous options which you will find in the internet can confuse you. Take some time out from your busy schedule and do a proper research about the companies offer accounts payable outsourcing to clients. I am sure you want the best services for your business. Get an in depth analysis of the services offered by the firm before you actually decide to take up services from the company.

Make sure to check the security arrangements the company has in place for its clients. See for yourself and find out if the security measures are adequate to protect customers personal identify and financial data. Online security in this internet age is vital and you must never compromise on this aspect. Make checks and cross checks about the security arrangements of the firm providing accounts payable outsourcing, before you actually outsource your work to the outsourcing company.

Accounts payable outsourcing has many advantages. One of the main advantages is that you can save huge amounts of revenue through the outsourcing work. Work is outsourced mostly to developing countries where there is abundance of manpower and labor is cheap. This automatically means that your accounts payable outsourcing work will be handled by trained professionals at a very cheap rate. The revenue which you will save in this manner is the profit for your business.

There are some outsourcing companies which offer free trails for prospective clients. You can check out such companies and get some of your work done under the free trail offer. See for yourself the type of work done, the amount of money charged and then decide if the company is capable of handling your accounts payable outsourcing work or not. If you are not satisfied with one company, there are plenty of others for you to choose from.

Accounts payable must always be handled properly and every account must be in place for you to make payments timely. Piling up accounts payable will only put you under a huge amount of strain. Accounts payable outsourcing is a simple way for you to keep all your accounts in good shape. Go ahead, rest easy and earn revenue for your business by accounts payable outsourcing.

About the Author:
Michelle Barkley is a CPA working for IFRworld. She specializes in accounting outsourcing, bookkeeping outsourcing tax returns preparation outsourcing and, Accounts Payable Outsourcing. to know more and to use the services visit www.ifrworld.com

Article Source: Articledashboard

Bookkeeping Outsourcing – Cost Efficient and Time Saving Service

Author: Michelle Barkley

Managing the accounting of a company is a tedious job and need expert services. There is no scope of errors as even a single error in bookkeeping can prove to be havoc in reflecting the success of an organization. Hence, dedicated and responsible bookkeeping experts are a necessity for every firm, no matter large or small. Not only finding suitable employees for bookkeeping a difficult task but also the soaring salaries demanded by them are unaffordable for many companies. Hence, bookkeeping outsourcing is the best way out from this problem.

These hired professionals take up the responsibility of maintaining an error-free record of the accounting transactions of your firm. This involves a lot of patience, time and accurate calculation. All the purchase and sale transactions of the company along with profit and loss account and balance sheet are prepared by bookkeeping professionals. So, you are free from the worry of all bookkeeping and accounting tasks and can easily concentrate on your area of expertise. Hence, you can contribute in the development and production of the products or services offered by the firm.

Investing in bookkeeping outsourcing is more of saving money for a business organization than spending it. This is because the firm saves a lot of money that otherwise have to be paid to individuals hired for bookkeeping. Also, they need not invest money on the maintenance of the accounting department and the infrastructure or benefits required for accounting employees. Only a total subsidized amount is paid to the bookkeeping outsourcing firms for their services.

The experienced professionals at these outsourcing firms provide you an accurate data. They save a lot of your time that you might have spent in finding the errors in the accounting books and correcting it. They also help in the decision making of the firm as to how much money should be spent on which expenses and where extra money is spent by the firm that can be saved. So, services offered by bookkeeping outsourcing firms ultimately prove to be very profitable for business organizations on the whole as they ensure optimum utilization of resources.

However, while selecting a bookkeeping outsourcing firm for your business, make sure that its employees are experienced in the field and can easily handle the complicated accounting or bookkeeping problems. You may ask for references from any of your friends or family members who have already availed the outsourcing services of any good bookkeeping firm. The services offered by well-established firm are unparallel and satisfy you in very possible way for all your bookkeeping queries, whenever you wish. Some of these firms also make use of bookkeeping software that makes compilation of records even easier for bookkeeping professionals.

To select a good bookkeeping outsourcing firm that provides you accurate accounting records and charge less involves some research. Internet is the best platform to find such an efficient firm. So, what are you waiting for? Just start clicking and find the bookkeeping firm that best suits your requirements.

About the Author:
Michelle Barkley is a CPA who advises people on tax preparation and tax calculation. She specializes in Bookkeeping outsourcing, accounting outsourcing, back office outsourcing. To know more about Accounting outsourcing Service visit www.ifrworld.com

Article Source: Articlesbase