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What is a full-service payroll? PAYROLL SERVICES in Farnham, A full-service payroll refers to a type of payroll service that handles all aspects of a business, including calculating and distributing employee paychecks, handling tax withholding and reporting, and providing online access to payroll information for employees and employers.

With full-service payroll services in Farnham, the business outsources all payroll-related tasks to the service provider, who takes care of everything from calculating and issuing paychecks to preparing and filing tax forms. This can be a convenient option for businesses that need more time, resources, or expertise to handle payroll in-house.

Full-service payroll services typically offer a range of features and options, including the ability to process payroll on a regular schedule (e.g., weekly, biweekly, monthly), the ability to handle multiple pay rates and pay types (e.g., hourly, salary, commission), and the ability to integrate with other HR and accounting systems. Some full-service payroll services offer additional HR-related services, such as employee benefits management, time and attendance tracking, and employee self-service portals.

What are the two types of payroll?

There are two main types of payroll: salaried payroll and hourly payroll.

Salaried payroll: In a salaried payroll system, employees are paid a fixed amount of money each pay period, regardless of the number of hours they work. This is common for positions with a regular and predictable workload, such as managerial or professional roles.

Hourly payroll: In an hourly payroll system, employees are paid based on their work hours. This is common for positions that have a variable workload or for part-time workers. Hourly payroll may also be used for overtime assignments, as employees may be entitled to additional pay for hours worked over a certain threshold.

Both types of payroll systems have rules and regulations that must be followed, including minimum wage laws and overtime pay regulations. Employers must understand and comply with these rules to avoid legal problems and ensure that their employees are fairly compensated. Get in touch with us, if you need payroll services in Farnham.