8 minute read
PAYROLL SERVICES Getting it right every time and avoiding penalties
from FARM CREDIT EAST
by NDSACatalogs
ASSURING A HASSLE- FREE, TROUBLE-FREE PAYROLL.
Farm Credit East customer Darla Schwab of Schwab Dairy Farm,Delevan, N.Y. No business is too small or large to benefit from professional support for their payroll services. Regardless the number employees you have, seasonal or year-round, ag-specific payroll services from Farm Credit East can help you achieve trouble-free payroll periods and eliminate the hassle and technicalities of payroll processing. Our specialists stay up-to-date on farm payroll regulations and filing deadlines, and can keep your payroll timely and accurate, allowing you to focus on the job you love.
Learn more about Farm Credit East PAYROLL SERVICES at FarmCreditEast.com.
Service options range from complete payroll processing to professional support for you and your staff, including:
Payroll management. You simply mail, email or fax to us, and we’ll complete all payroll record-keeping functions, tax calculations and deductions, paycheck writing, printing of quarterly reports and payroll summaries, and processing of IRS W-2, W-3, 940, 941 and 943 forms and state forms. • Weekly, biweekly or semiweekly payroll processing • Monthly or quarterly payroll tax filing • Year-end tax filing (including W-2 preparation) • Seasonal or year-round payroll processing • Direct deposit options • Payroll time clock options • H-2A reporting
Payroll software • Can submit your basic payroll online • Customizable solutions to fit your needs • Software support is available
Complete processing, filing and record-keeping. We complete all payroll record-keeping functions, tax calculations and deductions, paycheck writing and/or direct deposit, processing of quarterly reports and payroll summaries. We will process IRS forms W2/W3, 940, 941/944 and 943, as well as all state forms.
A coordinated approach. Our experienced payroll and software specialists are part of a team of agricultural finance experts who understand the special accounting, tax, record-keeping and payroll considerations of rural and family-owned businesses. We are up to date on all current farm payroll rules, requirements and filing deadlines, and can help you to develop a more coordinated and informed approach for managing your business.
FLEXIBLE, AG-SPECIFIC PAYROLL PROGRAMS
We specialize in processing payroll for all types of farming, fishing, green and forest products businesses. So we are experts in the complications of various types of exemptions, record- keeping and filing requirements that agricultural and ag-related businesses may have. We can provide: • Payroll for H-2A, seasonal and part-time employees • Overtime pay processing • Unemployment tax processing • Multi-state tax prep and reports that conform to all state-specific regulations • Local income tax filings • Child support deductions via check or electronic transfers
FREQUENTLY ASKED QUESTIONS
I am concerned about switching my payroll provider mid-year. Will this cause confusion for my employees or require too much of my time during my busy season?
Change does not always come at a convenient time. The main benefit of switching is to have your payroll in good hands as soon as possible before anything falls through the cracks — such as labor hours, which are at peak during your busy season. With your permission, we can contact your current provider for year-to-date data. In addition, we provide services right at your place of business, which makes the transition easier for you and requires less of your time.
What if I prepare our payroll myself or use another processing service? Why would I want to switch to your service?
It’s important to evaluate how well you (or your processing service) keep up with agricultural payroll rules and regulations. To find out, one of our ag payroll experts can review your needs and existing services and make a recommendation. We find that many of our customers prefer to focus on the day-to-day operations of running their agricultural businesses. Others are frustrated trying to keep up with ever-changing payroll rules, regulations and forms as well as demanding deadlines. Assuring trouble- free payroll while moving this responsibility off your plate may best be accomplished using payroll specialists who work exclusively with agricultural businesses, as ours do.
Another advantage: Our coordinated team of farm business experts can help to make the preparation of your financial records, income taxes and payroll more efficient.
Do payroll specialists receive extra payroll-related training?
At Farm Credit East, all payroll specialists take courses on agricultural payroll and must pass a test before they can provide this service to customers.
Is my business too small to use Farm Credit East’s payroll service?
No business is too small. At Farm Credit East, we are committed to the success of all farms regardless of size. And we prepare payrolls for businesses of all sizes. Some operations have more than 100 employees while others have just one.
FREQUENTLY ASKED QUESTIONS
Do I save money by having you process my payroll biweekly or weekly?
Yes, you do. We have a per-pay-period base charge and a per-check (transaction) charge. With a biweekly pay period, you have half the number of checks and pay periods. Certain state labor laws require waiver approval for paying other than weekly. We are happy to assist you with this process if you do not have the required approval.
Please note: H-2A labor may have weekly filing requirements, which we would confirm with your applicable liaison/state agency. Quarterly and annual filings remain the same.
Can you help with worker’s compensation audits?
We provide the reports needed for worker’s compensation audits. We can also customize your payroll setup and reports to match your audit classifications, which can help make your audit process fast and accurate.
What is the turnaround from the time that I submit my payroll information to you?
We assign a processing day for you based on your needs and process your payroll the same day that we receive your information. We send your payroll package, including paychecks, to you or, if you prefer, you can pick up your employee paychecks at your local Farm Credit East office. Please note: Direct deposit of employee pay does require an additional business day.
Do all my employees have to have direct deposit?
Not at all. Your employees can choose to receive their pay through direct deposit or by check, within the same payroll. In fact, your employees can have multiple direct deposit accounts (up to three) or check and direct deposit to savings.
FREQUENTLY ASKED QUESTIONS
Will you print employee checks?
We customize our payroll service according to what each customer would like and what’s best for each business. For example, we can print checks, make direct deposits and automatically debit your bank account for all payroll taxes. Or, if you prefer, we will print payroll stubs for you, and you can write the checks.
Will you process/pay liabilities?
Absolutely. We comply with electronic tax payment requirements for the IRS as well as your state(s). And if you prefer to remit your payment by check, we will print liability checks for any requirements that do not need electronic payment. We also assist with payroll deduction payments, such as retirement plan payments, employee tax levies, etc.
What are my responsibilities as a Farm Credit East payroll customer?
You submit your payroll data in the method that works best for you, such as calling, faxing or emailing the information to your Farm Credit East office. You also submit required payroll information for each new employee along with wage or deduction changes. Good communication with your personal payroll specialist creates a smooth, timely process.
Who do I talk to if my payroll specialist is out sick or on vacation?
We keep specific instructions for each and every customer with their records just for such occasions so another payroll specialist will be ready to help. In fact, we have backup for every Farm Credit East payroll specialist with established protocols for ensuring that all client payrolls are delivered on time, whether it’s a hot, hazy Friday afternoon in July or the day before Christmas.
A VIEW FROM THE FIELD
WHO NEEDS ANOTHER JOB?
Jason Schwab and his mother, Darla Schwab, were busy enough milking 800 cows, raising 700 heifers, farming 2,000 acres and building a new gravel business as a side enterprise. Payroll processing was the last thing they needed to handle. As owners and managers of Schwab Dairy Farm in Delevan, N.Y., they needed to stay focused on three milkings a day and producing a 26,000-pound herd average.
“I used to prepare our payroll when we had three employees and three partners,” said Darla. “And, even then, I found that keeping up with ever-changing rules, regulations and forms was more than challenging.”
HOW WE HELPED
The Schwabs now fax a summary of hours every pay period to their Farm Credit East office and receive their hourly employees’ payroll checks the following day. “The checks are never late,” Jason notes. “Farm Credit East also prepares all our payroll reports for us. And if we are ever audited, we wouldn’t need to deal with it, because they would take care of it for us.”
SPINOFF BENEFITS
Along with payroll, Farm Credit East manages deductions for a new retirement plan, providing a check for the plan manager and a spreadsheet for tracking employee-specific contributions. Also, we can now provide labor expense summaries and other reports as needed.
“Recently, we asked Farm Credit to provide a summary of our labor expenses for each area of our businesses, such as for crops, shop, dairy and maintenance. It is nice to be able to make one phone call and get a special report like this the following day.”
Darla and Jason Schwab, owners of Schwab Dairy Farm in Delevan, N.Y., turned to Farm Credit East to avoid risking penalties while processing their own payroll.
