Is your business growing to new sizes that are making it essential to start hiring more staff? Are you concerned about your ability to keep track of your payroll as you bring employees on? Many small businesses feel this way at some point in time, which drives them to seek help from a payroll service in Jamestown, ND as a way of getting things set up and functioning smoothly.
Deciding to partner with a payroll specialist is a great move for a number of reasons. Firstly, it alleviates the payroll duties that a business owner must assume. Second, it sets up a sustainable system for paying your employees, no matter how many you bring on or how big your company grows in the future. And finally, it helps to ensure accuracy at all times, since a professional payroll partner will have expertise far beyond most general business owners.
But how exactly do you get started with a payroll service in Jamestown, ND? And what do you need to have on hand to make sure your payroll is set up appropriately from square one?
Many business owners are actually amazed at how easy the entire process is! Take a look at a quick list of things you’ll need to get started:
- First and foremost, you’ll need your Federal Employer Identification Number (EIN). This is how the government will identify your payroll system and all of the employees being paid within it. If you don’t have your EIN handy, consult any tax documents you’ve filed for your business to find it.
- Next, you’ll need your State Identification Number (SIN) for the same purpose as your EIN: so your state can identify your business for taxation purposes. This can also be found on any state tax documents filed for your business.
- Finally, you’ll need your business’ bank account information—specifically account and routing numbers. You have to pay those employees somehow!
After providing all of the above information to a payroll service in Jamestown, ND and getting your payroll system setup, you’ll then need to start providing employee information as you hire. Specifically, you’ll need the following information:
- Personal information for each employee, including their name, birthdate, address and Social Security number (SSN).
- Payment information for each employee, including their hire date, employment status type, wage amount and any special deductions.
- Tax information for each employee, including allowances, marital status and dependents.
- Banking information for direct deposit, including account and routing numbers.
Now, this might seem like quite a bit of information and you might not have much knowledge as to how it all adds up, but this is the beauty of partnering with a payroll service in Jamestown, ND! Once you’re able to provide this information to your partner payroll service, they’ll go about setting everything up, so you don’t have to! And, what’s even more comforting, is the fact that as your business continues to grow, you’ll have peace of mind knowing that you’d laid the foundation for proper employment and payroll moving forward.