Processes

Calculate and pay applicable payroll taxes

How calculate and pay applicable payroll taxes are reshaped as AGI capability advances.

ProcessesCalculate and pay applicable payroll taxes
Calculate and pay applicable payroll taxes — illustrated

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How the work flows

Trigger: The completion of a payroll run or the arrival of a mandatory statutory tax filing deadline.

  1. Aggregate employee tax withholdings from the payroll system
  2. Calculate employer-side tax liabilities
  3. Reconcile calculated tax liabilities with the general ledger
  4. Generate required statutory tax forms and reports
  5. Remit tax payments to appropriate federal, state, and local agencies

Outcome: Tax liabilities are fully remitted to relevant government authorities and accompanying compliance forms are accurately filed.

Measured by

Tax Penalty CostPayroll Tax Calculation AccuracyTax Payment TimelinessCost Per Remittance