What services do bookkeepers provide to clients when they handle payroll?

Bookkeepers who manage payroll offer a variety of services to ensure that clients’ payroll processes are accurate, timely, and compliant. These services typically include calculating employee wages, including adjustments for overtime, bonuses, and deductions; ensuring accurate withholding and payment of payroll taxes such as federal and state income taxes, Social Security, and Medicare; preparing and distributing paychecks or arranging electronic transfers; maintaining accurate payroll records and generating detailed reports for both the client and in compliance with regulatory agencies; processing and filing quarterly and annual payroll tax forms, including Forms 941 and W-2; administering employee benefits such as retirement and health plans by coordinating deductions and contributions; and addressing any payroll-related questions or discrepancies that might arise. Additionally, they stay updated on the latest payroll regulations to provide guidance and ensure clients avoid potential legal issues. This comprehensive approach not only saves clients time but also minimizes payroll errors and enhances their overall financial management.