Welcome To Payroll!

Things to know about Payroll with Gusto!

We will handle all filing and processing payroll for you - no need to worry about logging into Gusto and running it on your own - we got you!

Now that we will have you set up with Gusto Payroll, here are a few things to know. We run payroll on a bi-monthly basis (mid month and end of month) and will only process the payroll once you, the client, confirm the funds are available to do so. When we process payroll it takes 2 business days to receive the funds. The money to pay for the payroll, however, is debited the day we process payroll for you. If we process payroll and the funds are not there, Gusto will change your account setup to take 4 business days to receive funds. This can last for up to two months and you will have to have a few successful payrolls under your belt for them to change that back. We will handle keeping in touch with Gusto to make your account stand in good graces.

Bastian Accounting Responsibilities:

• We will reach out to you bi-monthly to confirm that you want payroll run for either the mid month or end of the month payroll via a task in Financial Cents.
• We only run payroll after you confirm that you want payroll run and the funds are in the account.
• We will confirm total amounts once you approve the payroll of yourself and any employees and/or contractors you have on payroll so you know exactly what to expect.
• Whether it’s monthly, quarterly, or annually, we will handle all payroll tax related filings on your company’s behalf so you don’t have to worry about it!
• We can also handle running bonuses, off-cycle payrolls, and skipping a payroll cycle. Just reach out to your Accounting Specialist with any special requests!

Your responsibility:

• You need to respond to payroll tasks in a timely manner. Remember it will take 2 business days to process once you confirm.
• You need to provide employee and contractor hours along with confirming the wage amount on their client google sheet tab for each payroll.
• You’re responsible for making sure the funds are available in the designated bank account. Bastian Accounting will never make bank transfers on your behalf.

Risks of Skipping Payroll for S-Corporations:

From time to time, you may feel the need to skip payroll. Once you notify a team member on the appropriate task, we will do a quick review of your account to make sure you remain compliant. However, the IRS fundamentally opposes consistent payroll skipping.

Why?

• S-Corporations must pay shareholders who work in the business a "reasonable salary"
• Skipping payrolls can be interpreted as:
  • Attempting to avoid payroll taxes
  • Improper corporate financial management