Regardless of how employers choose to run payroll, whether through traditional bookkeeping or a software solution, the process requires a few basic elements to get started. These include:
· Federal and state employer identification numbers (EINs) for tax purposes
· Payroll schedules that meet state requirements, as well as the needs of the workforce
· A means of tracking employee time and attendance, especially if workers are hourly
· Payment methods and statements that comply with all state regulations
· A payroll manager to oversee the entire process of calculating wages and deductions, paying employees and filing taxes with government agencies on time