Payroll service in Maine
Payroll services for local businesses based in Portland, Maine
Outsource your payroll to a Local Provider
Considering outsourcing payroll? Our team at Local Economy specializes in payroll processing and compliance which keeps your business in line with taxing agencies. Using modern, accurate and technologically advanced payroll software, we can provide your business with the services you typically find in the bigger payroll companies while delivering the service you have come to expect with a local company.
Here are some of the time-saving features Local Economy offers:
Provide direct deposit of employee paychecks
Enroll your business in EFTPS (Electronic Federal Tax Payment System)
Transfer funds on your behalf and pay all state and federal payroll taxes
E-file your quarterly payroll tax forms
Provide online access for employees direct deposit paystubs and W-2s
Provide online access for your payroll reports (paperless payroll)
Prepare and e-file W-2s at year end
Report your new hires to the State
Manually running payroll can feel tedious, consuming, and expensive for someone who owns a small business. Large companies also benefit from payroll services as they can save time and manpowerby utilizing the relationship with our trusted timekeeping and worker’s compensation partners.
Did you know that outsourcing payroll can help you save infinite resources? It is also more accurate as it ensures that you have an expert team handling the details. Not only does this alleviate stress and take tasks off of your plate but also employees stay happy.
These are some of the reasons why working with a payroll company and having a team on your side like ours at Local Economy is the right step to take your business to the next level. Not only do we specialize in the payroll process, we also ensure that your business is kept in line with taxing updates.
Here are some other benefits of outsourcing your payroll to Local Economy (click on the topic to read more):
An online payroll program ensures that all your data is stored on one secure platform. This means that you can say goodbye to filing cabinets and digging through mountains of data to access small bits of information. Since all the information is online, you do not have to worry about losing or damaging it.
Electronic Employee Time Card
Our partnership with Swipeclock connects you to a cloud-based system available from any computer. You’ll know where and when your employees are punching in and out. The easy-to-use interface provides a built-in approval process so Local Economy will know when your payroll is ready to process. Editing time cards is easy and there will always be traceability so edits are transparent.
Secure, online portals are essential for both employers and employees.
- You will have electronic access to all payroll reports, quarterly and annual filings, and copies of employee pay stubs. Avoid sending unsecured emails by using our “File Exchange” feature. You can upload new hire documents any format (PDFs, Excel, Word) securely. Keep sensitive data safe.
- Employee Self-Service offers each employee a portal for viewing and printing pay stubs and W2s. W-4 information updates can be done by the employee in their portal.
- Swipeclock’s Workforce HUB feature opens the door to electronic Human Resource features that include electronic onboarding, benefits enrollment, company announcements, employee document storage (employee handbooks, original signed documents, etc).
Limit IRS Penalties
According to the IRS, almost 40 percent of small-to-medium businesses are guilty of paying approximately $845 in the form of penalty for filing late payments or incorrect filings. We all know how costly penalties for errors, omissions, and late payroll tax filings can be for a business. Moreover, government tax regulations can be complex. Most medium-sized businesses have a hard time understanding all the challenges they may face. It is even more pressure when you are legally responsible for any mistake or misrepresentation made in employment taxes. And of course, government rules are always changing. One cannot expect businesses to follow each and every change and alter their entire business proceedings.
Never miss a payroll
Everyone is busy these days! We have your back if you “space off” your payroll day. Our system will remind us when your payroll is due and we’ll reach out to you. We also send email reminders a few days before your scheduled payroll day as a heads up. Your employees will thank you!
Save Time & Money
For small- to medium-sized businesses maintaining an in-house payroll department is financially impossible. Think about how many hours would be devoted to payroll-related activity. By outsourcing your payroll, you avoid training an employee in payroll compliance.
Keeping track of benefit deductions, garnishments, new hires, and terminations, paid time off, and regulating state changes to labor policies is not easy. In fact, it can become quite frustrating. Every year, loads of time and manpower are put into preparing W2s and sending them out on time. By using our payroll services, you can allow your employees to solely concentrate on their main jobs and important tasks that require urgent attention.
No Unauthorized Access
With a secure payroll portal software, you can say goodbye to the good, old days of a lock and key filing cabinet! Since your portal is protected by a password and optional multi-factor authentication, you do not need to worry about any unauthorized access. All your data will be kept secure. If people within your company need to view the payroll data, you can control who has access to it.
Take Control of Your Payroll
Our Remote Payroll feature allows you to enter payroll data yourself. No more entering data into a spreadsheet which will then need to be sent to us. Remote Payroll entry offers an interface for keying in hours, making changes to employee pay and deductions, all in your secure portal. This feature is great for companies with office workers that don’t punch a clock. You can even have your employees track their own hours and you can simply approve!
Paperless payroll and timekeeping system usage has a number of other benefits, which is why most businesses are embracing it.
With our platform, you can:
Automatically update deductions
Easily make time clock adjustments
Reimburse your workers
Conveniently pay independent contractors
Automatically apply paid time off
Worker’s Compensation Information
All Maine businesses with employees are required to purchase worker’s compensation insurance. Local Economy has partnered with The Hartford to integrate your worker’s compensation premium payment into the payroll process.
The Hartford’s Pay-As-You-Go plan takes the hassle out of worker’s compensation insurance. With Pay-As-You-Go you can:
- Eliminate monthly premium check payments
- Achieve better cash flow management
- Help minimize audit adjustments at the end of the policy year
- Know that your worker’s compensation premium is paid on time
To get a free quote from The Hartford, contact Holly Lofton at 210-451-6565 or email at: firstname.lastname@example.org
Let's get this payroll party started.
615 Congress St. Ste 430
Portland, Maine 04101