How to set-up Small Business Payroll System

Small Business Payroll SystemSetting up of payroll systems is one of the most important tasks that a small business employer should do at the time of establishing their business. Setting up small business payroll system not only helps in identifying and streamlining the overall business process but it also assist the business owner in delivering the various legal and regulatory responsibilities towards the Internal Revenue Service (IRS).

We believe the 10 steps mentioned below are a good start for any business owner on how to set-up a payroll system for their small businesses –

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Why Small Business should use Cloud Computing

The way information technology has transformed the world, cloud computing is poised to take it even further and radically change the way businesses operate and deliver. IT experts round the globe consider cloud computing as one robust environment that would enable the businesses to be faster, cheaper, portable and safer, be it large enterprises, medium size businesses or small businesses.

Companies have realized that their products and services can reach a wider spectrum of target audience with an even lesser cost. Based on the research done by Microsoft – 45% of the small businesses have shown interest in cloud computing and are committed to give it a try for various reasons. We at CheckMark Inc. have also taken up the cloud computing endeavor to deliver our flagship products viz: CheckMark Payroll Software, MultiLedger (A Small Business Accounting Software) and 1099 Software through a cloud computing platform. We are collaborating with Microsoft itself in developing our cloud based softwares using their Azure platform.

For many small businesses like us there could be a plethora of reasons to take up cloud computing model for their products, some of the most prominent ones are mentioned below –

  • Cost Reduction – This is the most common one. Not only that cloud computing reduces the hardware cost to the minimum but also saves on the hardware maintenance and the overhead of a dedicated staff. Moreover, the cloud computing model is promising for a startup model with limited budgets. With the cloud computing model the dollar travels more in returns without compromising on usage of the latest technologies.
  •  Increase Data Security – With the big guns like IBM, Google, Amazon hopping in the cloud computing model, the technology development focus was shifted towards security and encryption. That said, the latest platforms available today are all high on providing data and application security. Small businesses with budget constraints can make use of cloud computing and get world class security and data encryption facility at a fraction of the cost.
  • Possibility to Work Remotely – Cloud computing gives the ability to access your files, products from anywhere at any time. Stored in the cloud infrastructure, documents and information can be accessed from anywhere with just an internet availability. In the small business setup, this very feature can assist in reducing the IT infra cost for the operations, where the employees can work full-fledged on the same project either from home or anywhere.

Cloud computing allows small and medium companies to be in equal terms with large companies in terms of their IT infrastructure, helping them to compete with more rigor and quality in the market.

 

Payroll, MultiLedger and 1099 updates for 2016

Announcing the availability of the 2016 versions and annual updates of our Payroll, MultiLedger and 1099 software. The new versions and updates contain new tax tables, new forms, enhancements, and bug fixes. The details of the update are listed below –

Payroll Updates – version 16.0.0

Updated features of CheckMark Payroll software are listed below –

  • Employers can now setup and create ACH payments to their bank or through National Payment Corporation to pay their Employer payments, such as tax payments and payments for deductions (401k, insurance, garnishments, etc).
  • There is a new option in the deductions match to be able to take a % of what is deducted from the employee’s check.
  • Added another option to the Calculation Method in Accrued Hours – you can now accrue hours on a quarterly basis.
  • Added a new report – it combines the Employee Earnings Register and the Employee Hours Register into one report.
  • There’s a new option to export the Company Information from Payroll into the 1099 program.
  • Adding the ability to distribute the tax expense accounts into departments and the different expense accounts within the department accounts.

MultiLedger 7.8 – Updates

The new updated features rolling out with MultiLedger 7.8 are –

  • Increased the length of the password field to be able to accommodate up to 10 alphanumeric characters.
  • Added a Subtotal line for each Customer on the Customer’s Invoice Item Detail report to include totals for both the quantities and the amounts. Also added a Grand Total line at the bottom of the report for both Quantity and Amount.
  • Added a Subtotal line for each Vendor on the Vendor’s Item Purchase Detail report to include totals for both the quantities and the amounts. Also added a Grand Total line at the bottom of the report for both Quantity and Amount.
  • Updated 1096 & 1099 forms to be current for 2015 filing.

CheckMark 1099 Updates for 2016

The features rolling out with 1099 software are listed below-

  • Added a Database Manager to allow users to create multiple databases in multiple locations.
  • Added an option to print Labels.
  • Added new checkbox to 1099 MISC, DIV & INT for the new FATCA filing requirement.
  • Added the ability to import Company Information in a tab-delimited text file format.
  • Added buttons for “Previous” and “Next” within each recipient type to be able to move back an forth between recipients without having to close the data entry window and reopen it for each recipient.

 

CheckMark, Inc. among the Top 10 Payroll Software Companies in USA

 

 

Fort Collins, Colorado – HR Tech Outlook a premium pro-HR magazine has recognized CheckMark Payroll Software as one among the Top 10 in USA for small and medium size businesses. CheckMark Payroll was chosen based on its comprehensive functionality, cost effectiveness, and scalability.

Speaking on the occasion Director of Sales and Marketing, Mr. Syed Abdul Hakeem said, “These are very exciting times for us. Not only that we are observing a growing trend of startups and small businesses that enliven the market and challenge us to reach out but also our recognition as a dependable name when it comes to Payroll Software and Solutions.  It keeps us strategically focused and hungry for more”. “We are a Small Business ourselves and understand Small Business needs, Payroll Processing and Automation is in our DNA,” added Mr. Hakeem.

Payroll has become complex and the penalties can be severe if not processed correctly. Technology helps perform the payroll tasks more effortlessly. CheckMark offers cost-effective payroll software solutions to companies in the small and medium segment. We have been a leader in this segment since 1984, serving a customer base that runs in thousands across the Windows and Mac platforms.

CheckMark Payroll can be used as a stand-alone program, or it can be integrated with most popular accounting systems, including CheckMark’s own MultiLedger™ Accounting System to provide seamless transfer of valuable data. Some of the software’s features include Direct Deposits, MICR encoding blank check stock, ability to handle unlimited companies and unlimited employees. The software will calculate Federal and State tax withholding tables and printable IRS forms are included, and there is no monthly fee.

CheckMark’s product line includes Payroll Software, MultiLedger™ Integrated Accounting Software, 1099 Software and the new 1095 Software related to the Affordable Care Act (ACA). CheckMark also has a wide array of services offerings for Payroll, Accounting, HR and Time Keeping Solutions. CheckMark is currently, partnering with Microsoft Corporation in developing a Cloud Environment and reshaping their products to make them functional in this environment. Through this collaborative effort, CheckMark will facilitate customers in accessing applications using multiple devices to complete their work easily and more securely. CheckMark has plans to incorporate new features, and modules, in their product line and build an ERP System geared towards the Small and Medium size businesses.

CheckMark – Product News

News

2015 CheckMark Payroll, MultiLedger and 1099 Software Feedback

We hope you are enjoying the robust new features of the new software programs this year. Our CheckMark Payroll Software in particular enjoyed a healthy boost of features based on your feedback. MultiLedger and 1099 Software weren’t far behind. Please let us know your thoughts on these new features and what you’d like to see for 2015.

 Online HR TrialHR compliance is an often forgotten area in business, however if you aren’t up-to-date, then things can get ugly. The Online HR Support Center can serve as a virtual HR department, or if you already have something or someone in place, it can be an excellent resource. This handy tool is filled with all sorts of great resources including:

  • Policy Library: Library of standard business policies.
  • State and Federal Laws: Written in easy to understand terms.
  • HR Forms: Library of business, state and federal forms.
  • 3-Minute HR Audit: Assess the effectiveness of your HR functions.
  • eAlerts: Instant notification for important law updates.
  • HR Checklists: Checklists to help organize business tasks.
  • And much more!

Want to try it out? Request a demo! If you decide to purchase, this handy resource is just $60/year!

Tips from the Support Team

Top Questions of the Quarter

How do I comply with the new Reporting of Employer Sponsored Health Care on my W2s?

Check out what to do here.

How do I file my W-2s electronically?

Before you can send the file you create in Payroll, you need to go to the Social Security Administration website and get registered to file electronically: http://www.ssa.gov/employer/

After you register, it takes 5-7 days for the SSA to send you your USER ID # you’ll need to file. Once that is received, you can setup payroll to create the file.

In Payroll:
• Click on W-2 & W-3 Statements under Reports
• Select the EFW2 File radio button and make sure “Federal” is in the drop down list
• Click on the EFW2/W3 Setup button & fill in the fields on this window. The User ID, is the number you receive from the SSA after registering. The WFID is not filled in unless this is a resubmission.

Once this screen is complete, click OK. Next, click on the “Text File” button at the top left of the window and save this file to a location where you can easily find it. Leave the name of the file as W2Report.txt. Once this is done, you can login on the http://www.ssa.gov/employer/ and follow the SSA instructions to submit the file.

How to Easily Run W-2s and W-3s

The Holiday season has arrived! For many businesses this is a very busy time of year. After the busy holiday season comes every’e favorite: tax season (sarcasm). Dealing with your businesses taxes is unavoidable but running your W-2s and W-3s does NOT have to take up much of your time at all. Whether you want to use preprinted forms, use a blank form method, or e-file your W-2s, follow our straightforward guide on how to run your W-2s and which forms you should order now to make your January a little less stressful.

Guide: Processing W-2s & W-3s

Health Insurance Marketplace is Open- What Now?

The Health Insurance Marketplace (aka State Health Exchanges) opened November 15th for individuals to enroll in non-employer sponsored plans for 2015. Why might a small business care about this date?

Ease of signing up for a SHOP plan- small businesses wanting to purchase plans for their employees on the exchange can sign up any month, but in order to qualify, 70% or more of employees have to sign up. If you can’t meet that 70% threshold, than you flat-out don’t qualify. However, November 15th marks a one month window where you can enroll in a SHOP plan with less than 70% of full-time employees partaking. During this window is definitely a prime-time to investigate if you are considering a group health plan this next year and aren’t sure if you’ll meet the 70% sign up rate.

Online SHOP enrollment launch (finally!)- last year due to difficulties, the online portion of SHOP wasn’t launched, but it finally has! Forget the paper form headache from last year and browse the online exchange with much more ease. Check out what’s available in your state!

If you are ready to enhance your current HR set up, consider CheckMark’s Online HR Support Center to boost your current HR department with extra resources and stay up-to-date on ever changing regulations.

 

 

 

How to Prepare for the Holiday Season with CheckMark

It seems like the holiday season comes out of nowhere and for many businesses, it is also the busiest time of year. With year end, we all know tax season is looming. We have been getting some common questions with how CheckMark Payroll works with year end now that each year is a separate application.

With your 2014 Payroll, you should have already downloaded your patch containing W-2s and W-3s. Once the IRS releases the 940 Form, we’ll have another patch come out for that to update you 2014 Payroll. So, in short, keep using that 2014 like usual and use it to process your year-end forms.

The 2015 Payroll is available currently for purchase. What are the advantages of purchasing now? While it’s not critical to purchase and download now, you can take comfort that if you get in a pickle, it’ll be quicker for tech support to get you the help you need and you can focus on enjoying the holiday season instead of stressing over payroll. Once you are ready to run that first payroll in 2015, when you open the 2015 Payroll, it’ll ask if you’d like to bring over the company data. Once you bring that over, you’ll be good to go for 2015. A Basic Tech Support plan (up to 30 minutes) is included with your update.

MultiLedger 7.7 contains the 2014 1099-MISC, so if you are needing that, you’ll want to be sure to get that updated. A Basic Tech Support plan (up to 30 minutes) is included with your update.

2014 1099 Software is pretty explanatory- it contains the 2014 forms. The ones included are 1099-MISC, -INT, -DIV, -S, & -R. If you are wanting to e-file for the first time, make sure you request your IRS Transmittal Code well in advance! It can take awhile. Save yourself the headache and apply early. Tech support is included with CheckMark 1099 Software for free.

As the year-end closes, support gets more and more backed up. Our team is committed to taking the time to take care of each and every individual, and we promise it’ll be worth the wait. The quickest way to get tech support is to request it online here. You’ll pop directly into the queue and they’ll get back to you as quickly as possible! We hope that this helps clear up any of those basic questions…with updates only happening annually, it’s easy to forget!

How to Save Time on Your 1099s This Year

Running 1099s for the tax season is very costly for many businesses both in time and money. At CheckMark, we have a very slick and fast 1099 Software that runs UNLIMITED companies and recipients. Many software and service options charge you per 1099 run, which can really add up, in contrast, we like to keep things simple around here. CheckMark 1099 Software can handle 1099 -MISC, -INT, -DIV, -S & -R forms, with the print version running only $69 and the e-file version running $139 (also can print!).

The simple interface of the main screen allows you to toggle between companies, recipients, and 1099 types with the speed of a cheetah.

It takes seconds to import your data, and minutes to be ready to print or e-file. No more headaches or hassle. Treat yourself this tax season. Check out the free demo today, or order the print version or e-file version and download in minutes.

 Screens look similar to the 1099 forms for ease of use.