Let Rocky Mountain Accounting and Tax Services help outsource your
Payroll and Human Resource Needs
Administrative Service Organization (ASO)
We have partnered with Alpine Benefits to provide a complete full service payroll, HR and Insurance for both your business and your employee welfare. Why waste your time and company resources managing these non-productive tasks. Let us show you some competitive outsourced solutions to manage these tasks.
Professional Employer Organization (PEO)
We have also partnered with Alliance Resource Management who is a PEO licensed by the State of Utah who can move that employee payroll liability from your company. They will also manage those non- productive tasks to give you time to run your business.
Let our benefits people assist you with the following Payroll items:
- Complete Payroll Processing
- Process All Garnishments (Child Support, Court, Etc.)
- Direct Deposit your employee paychecks
- Tracking and Accrual of Vacation, Sick & Personal Time Off
- Job Costing
- Certified Payrolls
- Prepare & Mail W2s
- Customized Reporting
- Online Payroll Submission with employee portal to print their own paystub
Human Resource Management
Let our HR people assist you with the following HR items:
- Time & Attendance Tracking
- New Hire Assistance
- Employee Termination Assistance
- Unemployment Claims Assistance
- Pre-hire & Random Drug Testing Available
- Available Employee Handbooks
- Written Safety Manual with Meeting Topics & Tracking Assistance
- Assistance with Employee Performance Reviews
Insurance - Employer
- Workers Compensation Insurance with Available No Deposit Pay-As-You-Go Option
- General Liability Insurance
- Key Employee Life Insurance
Insurance - Employee
- Payroll Deduction of Benefits
- Group & Individual Medical Insurance
- Group Dental, Vision & Life Insurance
- 125C Plan – Pretax Spending
You may be asking, "Why should I outsource my payroll?"
As a costly business expense, payroll must be well managed whether it’s maintained internally or outsourced. Hiring a third-party firm to handle your employee compensation might be especially difficult for small businesses because payroll is a sizable portion of their budgets. In any case, deciding whether to farm out the process requires careful inspection of the benefits and risks.
Outsourcing payroll services allows companies to focus on their core business. Passing along to a third party such information as employees’ work hours, pay rates and wage deductions can be a convenient way to administer a compensation and benefits program and track payroll expenses.
When you don’t have the skills or a trained professional on staff to handle payroll, outsourcing might be a wise decision. Payroll firms typically offer services that cover wages, overtime pay, bonuses, commissions and other forms of compensation. They also handle benefits, pension and retirement savings programs, and taxes. Small-business owners who feel challenged by frequent payroll tax changes, filing W-2 forms, making direct-deposit payments on time and keeping track of contract-labor filing forms frequently turn to third-party payroll specialists for help. Experienced, reliable firms base their services on the best practices in the industry. Third-party firms are likely compliant with current federal and state payroll laws.
Outsourcing payroll is, on average, 50 percent of the cost of handling it in-house, especially for small businesses. Companies that outsource often save money by not having to hire a payroll specialist or IT professional. However, if outsourcing your payroll isn’t going to cost significantly less than hiring a bookkeeper or clerk – enough to see real cost savings – keeping payroll internal might be cheaper. A small business, on a small budget, could end up paying as much as a large company would to outsource its payroll.
The biggest savings from payroll outsourcing might be time rather than money. Outsourcing payroll can free up human resources staff or others who handle HR tasks, so they can devote more time to recruiting, hiring, training and other HR functions.
A lot of small companies prefer to use PEO’s(Professional Employer Organization). The PEO is regulated by the state insurance department and moves the employee liability from the company to the PEO organization. The PEO becomes responsible for all of the payroll reporting and the employees are moved to employees of the PEO.
Loss of Control
Handing over your payroll operations to a third party gives you less control over the financial information and confidential data associated with it. Sometimes the data might be less accessible to your company because it’s stored on the payroll firm’s server. Sometimes this is a good thing for small companies with inadequate controls. Payroll includes the most personal and private information available on employees. Maintaining confidential data internally could present fewer risks. You should make sure your payroll can give your employees access to that information they need and guard against unauthorized access.
As part of a bigger buying group, sometimes benefits plans can become easier to obtain for your employees with better pricing then most companies can do on their own.
If you have any questions about the payroll services we can offer your business, please give us a call at (801) 661-4688.