At Invensis, we have more than two decades of experience in providing customized payroll solutions to businesses across industries. Our solutions cover the entire payroll spectrum, from updating new employee’s data, managing regular payroll cycles, handling deductions, and ensuring tax compliance. Additionally, we ensure that your payroll fully complies with the required regulations, minimizing the risk of penalties.
We bank on a combination of proven processes, advanced technologies, and the right people to improve end-to-end payroll processing services. Our processes include seamless integration with existing HR systems, accurate and timely payroll calculations, and comprehensive reporting features. All our team members are proficient in leveraging payroll software such as ADP, QuickBooks Payroll, Sage Payroll, Paychex, Wave Payroll, and more.
Our payroll team is comprised of payroll specialists, payroll administrators, compliance officers, experienced HR managers, and data analysts. Together, they work diligently to ensure accuracy and efficiency in every aspect of payroll management. By outsourcing your payroll to Invensis, you can focus on growing your business while our team handles the complexities of payroll administration.
Our Payroll Processing Process
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Collect Time & Attendance Data
First, we gather accurate records of employee working hours, overtime, leaves taken, and other attendance-related information.
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Calculate wages & salaries
Our team then computes employee earnings based on hourly rates, salaries, and overtime hours and factors in any deductions or allowances.
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Verify accuracy
Next, we thoroughly review the payroll calculations to identify and rectify any errors, ensuring compliance with company policies and labor laws.
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Compute additional income
Our team includes additional elements such as bonuses, commissions, or special incentives to be reflected in the employees' pay.
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Deduct taxes & deductions
We deduct appropriate income tax (federal, state, and local taxes), social security contributions, health insurance premiums, and other authorized deductions from employees' wages.
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Generate checks or deposits
Further, our team prepares individual payment details, either in the form of physical paychecks or direct deposits into employees' bank accounts.
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Distribute Payslips
Next, we provide comprehensive payslips containing a breakdown of earnings, deductions, and taxes for each employee.
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Maintain Records and File Reports
Finally, we keep accurate payroll records for compliance and reporting purposes and file necessary reports with tax authorities and other relevant agencies.
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