Payroll

PAYROLL

Are you thinking to outsource your payroll processing services to a trustworthy
and affordable payroll service provider? Don’t worry! You have landed at the
right place.

At Universal Accountants, we have the capability to handle your tedious payroll
details in compliance with your local payroll laws. By outsourcing us, you will be
able to concentrate on your core business better than before.

Our payroll processing services include:

  • Gathering and monitoring employee time information and attendance for
    a selected time period.
  • Computing payroll taxes, benefits & deductions.
  • Filing taxes that support Social Security, federal Medicare,
    unemployment funds, and direct deposits.
  • Distributing employee pay (Monthly/ bi-monthly/ weekly check
    payments) for that time period.

UK Payroll System

  • Payments and deductions: When computing employee’s payroll, PAYE
    deduction is made as per ‘HM Revenue and Customs’ (HMRC) system.
  • Employer Contributions towards FICA: Withholding both Medicare and
    Social Security contributions from employee’s wages as per rules
    prescribed under The Federal Insurance Contributions Act.
  • Deductions: Deduction of tax and National Insurance for most employees.
    Student loan repayments or pension contributions may also need to be
    deducted for some employees.
  • Reporting to HMRC: When a new employee joins or an employee’s circumstances change; change in designation etc, all these updates will be given to HMRC.
  • Annual reports: At the end of tax year an annual report will be submitted to HMRC, informing about expenses or benefits.

USA Payroll System

  • Wages & Hours: Wages and overtime pay are computed in accordance
    with the rules prescribed by The Fair Labor Standards Act (FLSA).
  • Employer Contributions towards FICA: Withholding both Medicare and
    Social Security contributions from employee’s wages as per rules
    prescribed under The Federal Insurance Contributions Act.
  • 401 (k) Plan: We keep track of employee’s details, automatic deductions
    (for 401-K and W-2 deposits) from paychecks, tax withholding and more.
  • Tax deposit: Issuance of taxes to the Internal Revenue Service in
    accordance with the IRS deposit schedule.
  • Payroll disbursement through ADP, Deputy, QuickBooks and other reliable
    sources.