For small insurance companies, business is booming. In 2014, their annual growth rate was 21 percent, more than twice the growth rate of the largest insurers. Along with that growth comes a need for insurance accounting services, insurance bookkeeping services and insurance payroll processing – all tasks that Time Employer Services can take care of for you.
Our human resources and accounting professionals ensure that as your business grows, your insurance payroll processing and documentation is compliant with local, state and federal laws. When you entrust your payroll processing to Time Employer Services, you don’t have to worry about keeping up with changes in tax law or employment law. Our insurance accounting services team will alert you to any updates that could have an effect on your business.
SIMPLE PAYROLL FOR INSURANCE OFFICES
Our insurance payroll services include timekeeping software for online entry of hours, vacation requests and expense reimbursement requests, so all of your payroll information is housed in one convenient location. Our software also enables you to set up automatic payment of payroll taxes, or to pay it yourself on a set schedule.
ACCURATE REPORTING AND ANALYSIS
Whether you’re a small firm or a large insurer, tracking and managing personnel expenses can be a time-consuming task. With our easy-to-use reporting functions, you can keep track of overtime hours, employee benefit deductions, and retirement plan contributions. We also offer a real-time timekeeping system, if you wish to track productivity for specific tasks or projects.
COMMISSIONS AND BONUSES
Payroll for insurance offices must account for commissions and bonuses, and when you employ multiple agents, you may need help keeping track of those figures. When you pay employees commissions, you must calculate the correct percentage of each commission to withhold for income taxes and Social Security contributions and make timely payments to the appropriate agencies.
In the insurance industry, understanding risk is a big part of your job. With Time Employer’s payroll services, you’ll never have to worry about the risk of payroll processing errors. Contact us today to ask about our fully customizable services for insurance providers.