For small business owners, payroll responsibilities can not only be frustrating but they can also be worrisome. Priority Pay Payroll services not only make payroll processing a snap, but also make tracking accounting functions that tie in with payroll just as easy to monitor.
Payroll Processing
With every payroll cycle, Priority Pay Payroll customers submit employee time sheets which are used to calculate payroll. Employees who are salaried are also paid, but their payment information is based on the information contained in their employee profile which is completed either when a customer begins using Priority Pay Payroll services or when a new employee is added.
Customers can print employee paychecks directly from the comfort of their own office, or they can have Priority Pay Payroll print and laser sign checks to be delivered and distributed to employees.
Payroll Reports
Even if the customer decides to print checks in their office using checks supplied by Priority Pay Payroll, that information will be contained in an email report that is sent to the customer as soon as payroll processing is completed.
The payroll email report contains a summary payroll report that details payroll deductions and payroll totals. Also contained in the report are copies of all of payroll check stubs for the pay cycle.
General Ledger Reports
General Ledger Summary Report — The General Ledger Summary Report is a summary of payroll transactions by GL account. This is a report that is easy to read, scan and understand so that you know exactly how each account has been affected. Information contained in this summary report is formatted so that you can take this information and enter it directly as GL entries into your accounting software easily.
General Ledger Detail Report — The General Ledger Detail Report gives the details of every single payroll transaction. This report also contains the corresponding correct GL account number, debits, credits and totals for each payroll cycle and monthly totals.
The General Ledger Detail Report can be easily exported into your accounting program and is also available in standard ASCII format.
QuickBooks General Ledger File — Many small businesses use QuickBooks accounting software and Priority Pay Payroll provides at least three reports that are easily exported into your QuickBooks accounting software.
Summary
Priority Pay Payroll makes keeping track of your payroll General Ledger entries easy and even makes it possible to directly export report information sent from Priority Pay Payroll to your own accounting software. If you use QuickBooks accounting software, we also provide General Ledger reporting that is easily exported into your existing QuickBooks program.
Priority Pay Payroll summary reports also allows you to analyze payroll General Ledger transactions at a glance or to have precise information for GL entries for either per pay cycle entries or monthly total entries.
All told, the entire Priority Pay Payroll system is a complete wrap-around payroll system that reduces and even eliminates payroll processing and payroll tax headaches for small business owners, so that they concentrate their efforts on building their own business rather than on becoming payroll experts.