Payroll Accounting involves the financial management of employee compensation, including recording wages, deductions, and taxes, to ensure accurate bookkeeping and compliance with tax regulations. It encompasses tracking payroll expenses, reconciling accounts, and preparing reports for financial and regulatory purposes. At NYCA Global, our Payroll Accounting services provide small businesses with precise, compliant payroll management integrated into their accounting systems.

What We Provide:

• Payroll Journal Entries: We record payroll transactions, including wages, taxes, and benefits, in your general ledger.
• Tax Deduction Accounting: We calculate and record income tax, social security, and other withholdings for accurate reporting.
• Reconciliation of Payroll Accounts: We reconcile payroll accounts with bank statements to ensure accuracy.
• Expense Allocation: We categorize payroll costs by department or project for budgeting and analysis.
• Compliance Reporting: We prepare and file payroll tax returns, ensuring adherence to labor laws.
• Year-End Tax Forms: We generate W-2s, 1099s, and other forms for employee and contractor tax reporting.
• Financial Integration: We integrate payroll data with financial statements for comprehensive reporting.