As the owner of a staffing firm, your core responsibilities involve growing your business. You devote your time to meeting with customers, strategizing with your management team, and fulfilling other responsibilities to increase revenue. This leaves you little time to handle administrative duties. However, hiring a team to handle the paperwork would be time-consuming and expensive. Instead, you would be much better off outsourcing your administrative duties to a trusted third-party provider.
Here are six ways Madison Resources can reduce your back-office paperwork in 2021.
Outsource your payroll administration to us. We handle in-house staff payroll, multistate payroll processing, and multistate new hire reporting. Our services include PTO and sick pay tracking and reporting, workers’ compensation reporting, ACA reporting, and census reporting. Gain access to an online payroll processing application and online timecard system. Choose printed checks or direct deposits with online paystubs.
Let us take care of your billing to ensure efficiency and accuracy. We provide customized invoicing and distribution and billing issue alerts. Our services include timesheet to invoice verification, vendor management portal verification, and portal invoice submission.
When we take billing off your plate, we also handle collections. Our services include daily/weekly auto-generated reports, complete detailed aging report updated and available daily, weekly warnings when invoices are beyond. We also notify you when a customer’s credit limit is over 85% exhausted, keep you updated with collections effort details, and provide auto-alerts leading up to chargeback status. You can even view and submit notes on aging accounts.
We can handle your credit needs. Our services include credit analysis and risk assessment on all of your customers, commercial credit reviews on prospective and existing customers, and ongoing credit monitoring of all active customers. We provide you with credit issue alerts as well.
Let us take care of cash applications for you. Our services include timely and accurate posting services conducted in accordance with your customers’ instructions, and online payment options for your customers.
Payroll Tax Filing and W-2 Processing
When we handle your payroll processing, we also take payroll tax filing and W-2 processing off your hands. Our services include annual W-2 processing, tax withholding, and unemployment returns, and electronic payments of federal, state, and local payroll taxes. We also provide a quarterly tax filing package for recordkeeping and state registration guidance.
Outsource Your Back Office to Us
Let Madison Resources take care of your back office while you take care of running your staffing firm. Request more information today.