Bank of America Online Business Suite: Making Payroll Easy?

Answer 1

Processing payroll can be a stressful task for business managers, and especially for small business owners. There are so many opportunities for mistakes, and failure to properly calculate and process payroll taxes can lead to large penalties from the IRS. The Bank of America Online Business Suite offers an easy online payroll tool perfect for small business owners.

Benefits of using the Bank of America business tools to make payroll include :

1. Users have the ability to process payroll with direct deposit. No matter what size the company is, this tool allows direct deposit payments to be sent to almost any bank employees may utilize.
2. Federal and state payroll taxes are calculated using up-to-date income tax tables. Payroll tax payments can be made directly through the program and electronically deposited into the businesss IRS payroll tax account. Business owners no longer have to worry about miscalculations or forgetting to pay these taxes.
3. Detailed reporting allows business managers and owners to manage payroll at a business, division, team or individual level. Owners can follow payroll trends, spot opportunities for savings, and track expenses with a click of their mouse.
4. Built-in calculators allow payroll managers to appropriately reimburse 1099 contractors, pay employees across various states, and divide expenses among departments and locations.
5. The Bank of America business suite integrates with existing software. Payroll data can be uploaded to or exported from the system for convenience and security.
6. Calculators for entering and maintaining benefit payments make it easier for small businesses to offer vacation, sick, and personal time, as well as health insurance and other benefits.

The payroll tool is just one of the easy-to-use products available in the Bank of America business suite. Small business owners who are not sure the payroll tool is right for them can receive a three month trial access for free. After three months, they may find that freedom from payroll tax worries is enough reason to use the tool on a permanent basis.