Acctpay

Payroll Accounting

Selecting the right payroll platform is critical to ensuring business operations in the U.S., and AcctPay professionals can help by:

Analyzing available payroll processing solutions to identify those that meet your requirements
Highlighting the advantages and/or risks of choosing a simple payroll platform or an employee benefits program outsourcing solution.
Setting up the entire payroll management system with the chosen platform.
Integrating all HR parameters, including health care plans, retirement plans, salaries and bonuses, vacation accrual, overtime benefits etc.
Managing bi-weekly, weekly, fortnightly of salaried and hourly employee payroll
The Form W-4P & W-4V Employee's Withholding Allowance Certificate, W2 and W3 Wage and Tax Statement.
Set up Payroll Items of Hourly rate, Salary and Wages.
Set up Payroll Withholdings of Federal Withholding, Social Security and health Insurance , deductions 401 K, defined benefits etc.
Create Employees and designate them whether the pay check is issued on a weekly, biweekly or fortnightly basis.
Create Paychecks directly.
Form 941 Employer's Quarterly Federal Tax Return, form 940 Employer's Annual Federal Unemployment (FUTA) Tax Return.

Compensation Benefits

AcctPay employee benefits administration services which allows businesses and their employees to:

Submit only correct and complete applications.
Attract the best and the brightest with world-class retirement and insurance plans.
Get access to better, more affordable benefits for your workforce.
Reduce the time, energy, paper and headcount associated with administering benefits programs.
Elect or waive benefits.
Substantiate COBRA, HIPAA, Section 125 elections, state, federal and carrier acknowledgements.
Send and receive all data securely.
Receive proactive deduction notifications and accuracy audits.
Short Term Disabilities (STD), Long Term Disabilities (LTD), Family Medical Leave Act (FMLA) and Workers Compensation claim processing and liase with Insurance provider.
Visibility into overtime causes and trends with analytics dashboards.
The ability to automatically apply your time and pay rules as time is collected.
Alerts as individual employees approach overtime.
Robust scheduling capabilities to help minimize overtime.
Reporting that helps minimize the risk of costly legal actions.

Payroll Support Services

End-to-end payroll processing
Payslips, BACS, On-line forms fillings, timesheet processing
End to end Time-pay-bill cycle
On-line Year End Submission and P11D
Standards and bespoke reports
Student Loan & Pension Deductions tracking
All statutory payments & deductions
Holiday accruals and payment tracking
Tracking of loans & advances
Ride to Work Schemes
Back-pay calculations with PAYE, NI & Class 1A NIC
Payroll journal preparation
Right to Work checking
Setting up PAYE scheme for the clients

Statutory Payments

Calculations of SSP, SAP, SPP & SMP
Issue of SSP1 & SMP1 forms.

Year End Activities

Client Registration with HMRC
On-line annual return filling and generation of P14 & P35
Calculation and filling P11D Benefits
Issuing of form P60 & P11

HMRC Liabilities

Generation of form P30 & P32
Payment of monthly liability

Accouting and Bookkeeping

AcctPay Processing staff accountants and managers remain continuously up to date with administrative and accounting requirements as dictated by International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Standards (US GAAP). They are committed to:

Formalizing and updating accounting and control procedures
Providing bookkeeping and back-office outsourcing services
Managing accounts payable, accounts receivable, general ledger and various reconciliations.
Setting of chart of accounts in accounting software.
Year end Adjustments.
Reconciliation's: Cash, Credit Card, Bank, Balance Sheet and Cash in Transit.
Year End Accounting & Accounts Finalization.
Monthly, Quarterly, or Annual Reporting.
Accounting in Quick Books, IRIS, TAS, SAP, ERP.
Weekly P&L Flash Reporting.
Expense claim processing.
Scanning, tagging and uploading.

Capital markets firms struggling with increasing costs, increasing regulations and a period of low growth. The challenges to capital markets firms need to focus on growth, profitability and managing risk in order to survive in this challenging environment.

Acctpay Consultancy provides Knowledge Process Outsourcing (KPO) includes middle office services to Custody and fund administration, Investment banking, brokers. Services includes bank/stock reconciliations, OTC derivatives, Fund Accounting, Corporate Actions and Derivatives operations.

Services

We have experience in all of the industries we serve and have the proven expertise to meet your unique needs. We build value for clients through our deep industry expertise in a broad range of industries including: