Yes, our accounting services are available for businesses with all types of scales, whether large-scale businesses (MNCs) or small-scale businesses (small startups).
Payroll Services
Looking out for comprehensive payroll services for your business but can’t find a trusted one?
Accbyte is a one-stop for all your accounting services. We have been providing our payroll services to all scales of businesses, i.e., small, medium, and large, for more than a decade now and have worked with several well-established reputed companies. With the assistance of our experienced professionals, you don’t need to worry about the distribution of compensation and paychecks.
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Why We’re the Best
What Makes Accbyte’s Payroll Services the Best in the Market?
We have been monopolizing the market by satisfying our clients with the following:
View MoreAccuracy
Our accounting services, especially the payroll services, are known for their accuracy. We make sure that the computation of employees’ salaries is precisely done so that the employees don’t bear any resentment in their minds. The accuracy of payroll management is ensured by utilizing multiple accounting software programs. It makes the calculation error-free without compromising any other aspects.
Experienced Professional
The biggest reason for several milestone achievements of Accbyte is its experts. These experts have worked for and in all industries, whether small-scale like startups or large-scale like multinational corporations. Their experiences helped them to gain industry fundamentals and insight that they employ for our clients.
Complete Confidentiality of Data
At Accbyte, we ensure that the financial data of the users is kept completely secure. We perform strict standards for keeping our client’s data private, which include access to limited experts, using updated software programs, password protection, and regular security audits.
Compliance with the Latest Laws
Along with the latest payroll practices, our experts also make sure that the computation of our client projects is conducted in compliance with the latest payroll rules and regulations. This lowers the risk of penalties, fines, lawsuits, and judgments.
Reporting
Considering the utilization of payroll data for multiple purposes, the finance and accounting experts at Accbyte employ the best reporting strategies for preparing payroll reports. Although this is something provided by all the payroll service providers, we make sure that the data is presented in such a way that it can be used by other departments as well.
Our Payroll Services Include
Accbyte offers the following payroll services to its clients:
1. Automatic Payment Processing
We use advanced payment processing accounting software programs that automatically handle wage calculations, tax withholding, and employee payments with minimum human efforts and the possibility of errors. Moreover, this also allows the clients and our experts to analyze the data in real-time.
2. Tax Withholding and Wage Garnishment
Tax withholding and wage garnishment are the practices commonly categorized under payroll management. These are considered one of the biggest loads of payroll services. But, by associating with Accbyte, clients don’t need to be concerned about the tax withholding and wage garnishment.
3. Payroll Reporting
Along with preparing well-informative and strategized payroll reports of clients’ financial data, Accbyte also submits the records to the respective authorities, like the IRS (Internal Revenue Services) and HMRC (His Majesty’s Revenue & Customs). The data includes tax wages, wages, paychecks, etc.
4. Employee Self Service
In addition to payroll services, Accbyte provides ESS (Employee Self Service) to the employees of clients’ businesses. This enables the employees to monitor and access HR-related information like leaves taken, deductions, the employee handbook, personal information, etc. on the company’s portal.
The Process of Accbyte’s Payroll Service
The payroll services procedure of Accbyte has a series of steps that are performed in the following ways:
1. Onboarding Employees and Collection of Data
The first step of our payroll service is onboarding the employees and making an employee list along with their crucial information. Once the list is prepared, our experts initiate the data collection process to compute employees’ paychecks.
2. Accounting
In addition to payroll services, Accbyte provides ESS (Employee Self Service) to the employees of clients’ businesses. This enables the employees to monitor and access HR-related information like leaves taken, deductions, the employee handbook, personal information, etc. on the company’s portal.
3. Calculation of Payroll
After successfully collecting the payroll accounting data, we proceed with the process of calculating payroll. This involves considering various elements of employees’ salary structure, such as CTC, allowances, prerequisites, deductions, leave adjustments, payslips, bonuses, incentives, loan repayment, etc.
4. Compliance and Reporting
Along with preparing well-informative and strategized payroll reports of clients’ financial data, Accbyte also submits the records to the respective authorities, like the IRS (Internal Revenue Services) and HMRC (His Majesty’s Revenue & Customs). The data includes tax wages, wages, paychecks, etc.
5. Payment to employees
After the accounting of the employees’ salaries is completed, we proceed with the payment process of the employees’ paychecks. This includes contacting the banks to disburse the payment of salary to the salary accounts of employees or using automated software to process the paycheck payments.
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