Semi-Monthly Payroll Computation
Every organization needs to process the payroll of their employees in a timely and accurate manner. This, however, it is not the simplest thing to do. Are you able to comply with the statutory and tax regulations (that change from time to time) while managing all of that? You should consider payroll outsourcing companies, if the time you spend taking care of all that appears unreasonable.
It can free up considerable bandwidth, resources, time and equipment and help gain more control on the payroll process. This can be preferable than setting up and managing payroll in-house.
With an outstanding customer portfolio and business network, Clasën is now a fortress for skillful business consultants with specific expertise on accounting, payroll, bookkeeping and financial software. Our more than 10 years in the industry of accounting and payroll services processing and can process a considerable number of payroll records on a monthly basis. We provide more than 99% accuracy in payroll processing and have a team of highly qualified accountants who focus exclusively on the payroll and accounting. We ensure confidentiality completely while providing transparent employee communication, meeting statutory requirements and doing basic payroll calculations, so as to provide end-to-end small business payroll processing
How our Payroll Service Outsourcing works?
Semi-Monthly Payroll Computation
- Configuring pay code taxability per employee;
- Maintenance of tax table (Withholding tax table uploaded from BIR);
- Calculation of Employees Fringe Benefits tax (if any);
- Determination of monthly contributions to the BIR,SSS, Philhealth and Home Development and Mutual Fund;
The Client’s HR unit or equivalent shall provide regular timesheet details of the employees, stating the number of man-hours worked, overtime hours, tardiness and absences.
Preparation of Payroll register and Payslip
The payroll register shall contain individual salaries due to each employee with the corresponding payroll taxes withheld and deductions for each period.
Year-end Alphabetical listing (Alphalist BIR #1604CF)
- This includes total salaries received per employee, total tax due, withheld and remitted to the Bureau of Internal Revenue
- Preparation of BIR Form 2316 for individual employees as proof of Income tax payment of the employee.
List of Requirements for Payroll Services:
- Employee details and a copy of the Contract of Employment for each employee.
- Form 2316 of previous employer, if any.
- In case of termination/separation of employment of an employee, the Client shall inform CBSI at least 30 days before the effectivity of the termination/separation for the computation of the employee’s last pay.
- The Client shall inform CBSI of any changes in the status of its employees as soon as practicable.
|7 days before payout||Sending of payroll information (timesheets,
attendance sheet, salary adjustments)
|3-6 days before
|Computation of payroll||CBSI|
|2 days before payout||Sending of payroll register and pay slips||CBSI|
What We Use for Preparation of Payroll?
We use the software you are using for maintenance of payroll or the software you would prefer us to use. SAGE is the third- party software tools that we can work with.
Why Choose Clasen as Your Payroll Service Provider?
- Reliability and continuity of service
- Opportunity for reduction of operating cost
- Accurate handling of legislative requirements
- Availability of more time for core business activities
- Flexible, accurate and timely delivery
- Improvement in management productivity and information
- Focus on continuous improvement of processes
- Substantial investment not required in software and IT