Why is Payroll Is Important to California Workers Compensation Insurance
One of the best things to happen to California Workers Compensation is, the way that worker’s compensation is sold and the way payroll is reported. In the past you had to estimate your payroll. That was O.K. if your payroll was exactly the same every year. They would audit your business at the end of the year to determine if what you estimated, matched what you actually did. That was great if the estimate and the actual, matched at the end of the year! However, if you had a lot of Payroll growth and your estimate was too low for what you actually did at the end of that year, you had the insurance company sending you a bill for the difference!
Welcome to No Down Payment or Low Down Payment, Pay as You Go, Pay as You Owe, California Workers Compensation
If you run a small business in California or any other State with 2 to 500 employees, payroll and HR can be a critical part of saving time and money for your business. The savings go well beyond simply paying a person to do your payroll. This is why Beacon Business Insurance Solutions has partnered with one of the top payroll providers in the nation. Our payroll provider partner allows you to work with insurance companies who specialize and focus on the ability of a small business to report their actual payroll, as it happens in real time!
The answer is sometimes it makes sense. Sometimes it doesn’t make sense! Yes, there are work comp companies that will do pay as you go or pay as you owe terms, without a payroll provider. As your broker, we work for you. We are more than happy to provide you with a quote for that, if you want to continue doing your own Payroll. However, in some cases we can shop a greater number of worker’s compensation companies for you, that will do PAYGO or PAYO but only when you work with a Payroll Company who will report actual payroll to the insurance company. Hopefully when we talk we can help determine if using a payroll company makes sense for your small business. Each company is different. We get that! That is Why we endeavor to provide you, the best solutions for your business. So let’s look at some of the features and benefits of using a payroll partner:
- BETTER THAN THE COMPETITION: Our Package Beats the Competition
- NO DOWN PAYMENT WORKERS COMP: More Options when using our Payroll Partner
- GREATER ACCESS TO HR SOLUTIONS: HR is Easily bundled with Payroll
- CALCULATE YOUR SAVINGS: Track actual minutes worked. Eliminate wasted labor minutes.
- CUT ADMINISTRATIVE COSTS: Automate time tracking and eliminate administrative hours.
- INCREASE PRODUCTIVITY: Pay employees for minutes worked only. Eliminate late arrival and early departure.
- ELIMINATE "BUDDY PUNCHING": Prevent employee time theft.
- SIMPLE ONLINE EDITING: Log in from any workstation to easily manage data online.
- REDUCE LABOR COSTS: Dramatically reduce your cost of labor.
- SIMPLE HARDWARE SETUP: Easily set up hardware in a matter of minutes.
Timekeeping really should be Simple and Affordable.
Our timekeeping solution was designed with "everyday people" in mind, which means that we offer timekeeping solutions that are simple to set up, and that makes it simple for Small Business Employers to manage employee time cards on a daily basis. Though the system also offers a variety of advanced timekeeping features, we can conveniently set up most of the "bells and whistles" behind the scenes so you can focus on simply collecting time, editing cards, and running reports.
A simple timekeeping solution is one that offers Practicality from End to End.
You will see features in our automated timekeeping solution that are simple to use and intuitive to navigate through. Our hardware setup that can be completed in a matter of minutes for exceptional user ease in tracking employee punches, editing time cards and generating reports for payroll processing, this solution was designed to simplify the basics of timekeeping.
Automated Timekeeping Dramatically Reduces the Administrative Work!
Because our solution allows your data to be sent electronically for payroll processing, you can eliminate:
- Faxing, phoning in, or any other form of manual transmission of employee data
- Human error associated with manually calculating time sheets
- Labor hours required by payroll clerks to collect and calculate payroll each period
Automated Timekeeping is a Powerful Tool for Employers in Managing Labor Costs.
Organizations can literally reduce labor costs by thousands of dollars each month by minimizing employee time theft, human error in payroll preparation, and time spent by managers and payroll clerks processing payroll. Beyond the cost savings, however, it's a valuable management tool. Take the time to understand how immensely valuable automated timekeeping solution is for your small business.
Data Collection can be Accomplished in a Variety of Ways
Gathering employee punches can be accomplished in a variety of ways. It can be done through a number of different collection methods. You may already have an idea of what "method" you'd prefer to use to collect your employee's punches.
General methods for gathering employee punches include:
- Time Clocks
- Over the Web
- Mobile App
- Over the Phone
As you can see there are many things that can affect your business. Executing your small business strategy is one of the things the right payroll system allows you to access better. If you have 1 or 2 employees, it may not make a lot of sense but when you have more and you are not there all the time, these measures may help overcome human nature and allow you to sleep better at night. Beacon is here to help your business make the right choices when it comes protecting one of your most valuable assets…Your Livelihood! Call us today at (888) 923 6828 for more information regarding payroll, HR, worker’s compensation insurance , general liability, business owner’s policy (BOP), commercial auto, contractors license bonds, cyber liability and employee practices liability (EPLI).