Payroll Reconciliation
Meticulously compare the contents of your payroll register with the intended payouts to employees, ensuring alignment and accuracy.
Quick Navigation
Complete Payroll Assurance & Compliance
In any organization, payroll processing is not just a necessity but a legal requirement, and payroll reconciliation plays a pivotal role in this aspect. Though the process may appear labor-intensive, its benefits span from simplifying tax preparation to effectively tracking business expenses.
Adhering to the payroll reconciliation process is of utmost importance as it guarantees correct and timely employee compensation, shields against penalties, and upholds precise financial records. It also involves the integration of data from various general ledger accounts, including payable payroll, expenses, and liabilities.
At BnC, we bring extensive experience to the table, addressing all aspects of payroll reconciliation while prioritizing employee well-being. Our services encompass meticulous record-keeping, penalty avoidance, and precise employee compensation.
Steps of the Payroll Reconciliation Process
Here's how our payroll reconciliation services enhance business management, saving time while upholding accuracy:
Verification of Payroll Register
Cross-checking employee details such as name, DOB, and employee number.
Scrutiny of Pay Rates
Determining gross wages for employees accurately.
Validation of Employee Time Cards
Ensuring accurate entry of work hours.
Confirmation of Deductions
Comprising social security, Medicare, local taxes, health insurance, etc.
Accurate General Ledger Entries
Properly recording assets, liabilities, revenues, and expenses.
Timely Tax Submission
Monthly or weekly payroll tax submissions to avoid penalties.
Payroll Validation Audits
Checking register totals against salary bank drafts.
General Ledger Balancing
Reconciling ledger variances before closing out the period.
IRS Form 941 Filing support
Ensuring your quarterly returns match final tax deposits.
Software We Integrate With
The best accounting software that we use for your payroll and credit card reconciliation are:
Other Outsourcing Services
Explore specific operational controllership tracks designed for corporate scaling.
Questions about Payroll Reconciliation
What does payroll reconciliation cover?
Meticulously compare the contents of your payroll register with the intended payouts to employees, ensuring alignment and accuracy.
What information should we share before discussing scope?
Tell us about your business, operating locations, existing finance systems and the work you need support with. Share sensitive records only through a channel agreed with the team.
How do we confirm fees and timing?
Contact BNC Global to discuss your requirements and agree on scope, deliverables, fees and timing before an engagement starts.