If you are a business owner you might be wondering, do bookkeepers do payroll? It’s a valid question, as bookkeepers are responsible for managing a company’s financial records and ensuring they are accurate and up-to-date. But do they also handle payroll?
In this blog post, we’ll explore the answer to this question, and provide tips for hiring a bookkeeper who can do payroll. Let’s dive in!
What Do Bookkeepers Do?
What does a bookkeeper do on a daily basis? Bookkeepers are responsible for maintaining a company’s financial records and accounts. This includes tracking expenses, income, and other financial transactions. They also need to ensure that the financial records are accurate, up-to-date, and in compliance with relevant laws and regulations.
Bookkeepers can also provide additional services such as preparing taxes, preparing financial statements, and creating budgets. They often work with accountants, who are responsible for more complex tasks such as analyzing financial data, providing financial advice, and making sure the company is compliant with laws and regulations. For this reason, having CPA-led bookkeepers can provide great financial support and guidance.
What Is Payroll?
Payroll is the process of paying employees for the work they have done. This includes calculating wages, calculating taxes, and making payments to employees. Payroll is a critical component of any business’s financial management. It requires careful attention to detail and accuracy to ensure employees are paid correctly and on time.
What Is Involved In Payroll Processing?
Payroll processing involves several steps. First, the employer gathers information about the employee such as salary, taxes, and deductions. The employer will then need to calculate the employee’s gross pay, deductions, and net pay. Once these calculations are complete, the employer will generate paychecks or direct deposits for the employee. Finally, the employer must file taxes and send out any required reports.
Do Bookkeepers Do Payroll?
Yes, bookkeepers can do payroll, but not all of them do. Payroll is one of the basic duties and responsibilities of a bookkeeper, so they should be able to handle it. However, some bookkeepers may not be comfortable or experienced in payroll processing, so it is important to ask questions and make sure they have the necessary skills and experience.
Tips For Hiring A Bookkeeper Who Can Do Payroll
When hiring a bookkeeper who can do payroll, it is important to look for someone who is experienced in payroll processing. Ask the bookkeeper about their experience with payroll and the type of payroll software they use. Make sure they are familiar with the laws and regulations related to payroll processing, and ensure they are compliant with them.
It is also important to make sure the bookkeeper is familiar with the types of deductions and taxes that need to be calculated. Ask if they are comfortable with the payroll system you use and if they can easily handle any changes that may arise.
Benefits Of Having A Bookkeeper Who Does Payroll
Having a bookkeeper who does payroll can be a huge benefit for your business. It can save you time and money, as you won’t have to hire a separate payroll specialist. It can also help you stay organized, as the bookkeeper can keep track of all the payroll information as part of their routine tasks and ensure everything is accurate.
Finally, having a bookkeeper who is experienced in payroll can help you make sure your business is compliant with all relevant laws and regulations. This can help you avoid any costly fines or penalties.
The Bottom Line
Do bookkeepers do payroll? Yes, they do. Bookkeepers can help with payroll processing, as this is typically one of their duties and responsibilities. However, it is important to confirm that the bookkeeper you hire is experienced and knowledgeable in payroll processing.
If you need help with payroll processing, consider hiring a bookkeeper who can do payroll. They can save you time and money, and help you stay compliant with laws and regulations relevant to your business.
To discover how the Intrepidium Consulting Team of CPA-Led Bookkeepers can help you get your payroll under control, call 778-800-7976 or click here to schedule a complimentary consultation.