Choosing a Payroll Service
Before selecting a payroll service, it's a good idea to gather all the materials the payroll service will need to set up your payroll processing.
Before you choose a payroll service, it's important to gather the essential information that you will need to give the payroll outsourcing company.
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Here's a list of things you need in order to enroll with a payroll service: - Your Federal Employer Identification Number (FEIN) from the IRS
- Your Federal State and Local Tax ID Numbers
- Your State Unemployment Insurance (SUI) ID Number(s) and Rate(s)
- Company Payroll Banking Information for optional Direct Deposit (include bank name, account number and routing number)
- Your Payroll Schedule
- Benefits Information (if applicable): insurance, sick days, vacation, holidays
- Personal Information for each employee or contractor, including name, address, phone number, email address and social security number.
- Pay Information for each employee or contractor, including hire date, birthdate, type (contractor or employee) and pay rate.
- Tax (W-4) Information for each employee (if previously completed): State, local authority, filing status and exemptions.
- Direct Deposit Information for each employee (optional): Bank account numbers, routing numbers and amounts.
- Deduction Information for each employee: Name and withholding amount for each (i.e., medical, dental, garnishment).
- Benefits Information for each employee: starting totals and accumulation amounts for each (i.e., vacation, sick, personal).
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