Payroll calculation is time and effort consuming process which is inevitable for absolutely all companies with hired employees. It shall be done every month and requires specific concentration, care, specialized knowledge and skills of the person in charge. Only the most trained and qualified accountants are engaged in the payroll calculation, because it directly relates to the tax issues where any mistake may result in the accrual of fines.
What does payroll calculation include?
As a mandatory requirement, payroll shall include preparation of the standard tax reporting formats. In addition, this process is accompanied by:
- calculations in order to define amount of salaries, as well as related taxes and contributions;
- calculation of sick leaves, severance payments and amount to cover the paid leaves/ vacations of employees;
- calculation of payments made under existing labor contracts and other documents;
- calculation of charges on payroll in case of individual contracts concluded with physical persons;
- compilation of common payroll spreadsheet.
What is “Financial Chain Corporation” offering?
If you are faced with the need to calculate wages (including preparation and submission of the relevant reports to the state supervisory bodies and tax inspection), we recommend that you commit this process to the “FChain” specialists. We have a long-term experience of successful works in accounting. By contacting us, you can be sure that our qualified experts calculate your payroll according to the effective requirements of the law. We will prepare all reporting documents that are required for payment of taxes and social taxes/charges to the tax inspection, as well as social and pension insurance.
Our calculations will include:
- calculation of charges on payroll
- calculation of withholding on payroll;
- calculation of taxes and charges that shall be paid to the relevant authorities in accordance with the law of Ukraine.
It is worth noting that payroll calculation can be made on the one-time (in this case, our services are paid-on-delivery) or regular basis (our services are included in the original contract). The cost of service is determined by the complexity of the payroll calculation, which depends on the work schedule of staff, availability of bonuses and other factors.
What are the benefits of outsourcing payroll calculation?
Today more and more Ukrainian companies decide to outsource this task. And no wonder, since this decision provides certain benefits to the private entrepreneurs, namely:
- saving costs allocated to full-time accountants. It should be noted that to-date searching for a really good accounting specialist can be a challenge. And if you intend to hire it on a full-time basis, then you need to not only provide high and competitive remuneration, but also allocate a permanent work place, pay for vacation and sick leave, as well as pay relevant taxes. If you select outsourcing services, you can avoid all those costs;
- accuracy and timeliness of all calculations. Our employees commit themselves to make all calculations exactly within the agreed time frame. In doing so, they will carry all calculations with the maximum possible accuracy, since it is provided for by the terms and conditions of the contract;
- concentration of the company’s effort on its core business. Generally, the management of private companies has to spend time addressing various problems related to the taxation issues. After contacting “FChain” you won’t need to do that because you delegate this task to the professionals. Just do your business, while we take care of any problems with payroll calculation for your employees, preparation of reports and other issues.
We know exactly how to get our clients satisfied. To do so, we offer the following benefits:
- huge professional experience of our specialists. Since 2002, our company provides quality accounting and legal services. Over this time we’ve got outstanding experience and excellent reputation among both our clients and business partners;
- full confidentiality. Working with us, you can be sure that all your professional secrets are kept confidential. We guarantee full confidentiality of all data relevant to your professional activity;
- team of a high class professionals. “FChain” experts undergo regular training and skill improvement programs;
- use of best software. Doing their work, our experts use the best accounting software and special tools/services that guarantee accurate calculations in the shortest possible time;
- excellent quality of service. We treat each client with the utmost care and respect and try to do our best to ensure your satisfaction by cooperation with us.
Should you need this services, please call us today, and our managers answer all your inquiries.