Take the pain out of managing the complexities of wage, tip and reporting for your restaurant.
Our restaurant payroll service includes allocated tip reporting, tip-to minimum validation, shortfall reports and the FICA tip credit report. We will make it easy for you to ensure that you are meeting your IRS requirements.
Allocated Tip Reporting
A lot of employers of restaurants or bars operate tips in an aggregated fashion. Payday is the time to reward your employees with this extra incentive. Tips, though, are not excluded from taxes, and getting busted brings a hefty penalty. Let us take the burden of reporting the proper data to the IRS for you.
Unfortunately, some of your employees do not receive adequate funds from wages alone to cover their taxes and voluntary deductions. We utilize shortfall reports to identify if there is a situation of the sorts that needs further attention. Reason being, the employer is responsible for recovering these funds through payroll processing…don’t be left in the dark!
FICA Tip Tax Credit Report
We’ll ensure you receive the tax credit you deserve for a portion of the FICA taxes you pay on employee tips. It adds up, potentially hundreds of dollars each year per employee! Coastal Payroll guarantees accurate filing of the FICA tax credit Form 8846 using data already compiled in payroll.
Coastal Payroll’s system verifies the wages paid to your staff and the tips reported comply with minimum wage requirements. Just another way we work together to avoid trouble!
You will gain real-time access to your company’s current payroll reports in our iSolved HCM platform.
You can access historical payroll reports and records at any time. Reports are stored in PDF format for easy retrieval and storage.
Standard payroll reports include the following:
- Payroll Register, Payroll Summary with Cash Requirements, Department/Labor reports, Tax Liability Summary, Benefit Accruals, Check/Direct Deposit Registers, and many more
- iSolved is prebuilt with hundreds of payroll reports. If your needs warrant additional reports, our Report Writer allows you to customize and build reports from any data element in the system. Here, you can combine payroll, human resources, and benefits data and report on all aspects of your workforce, with both PDF and Excel export capabilities!
Pay As You Go Workers Compensation
This service calculates and deducts Workers’ Compensation premiums on a per payroll basis.
It eliminates the need for large lump sum payments at the beginning of the plan year and eases the hassle of year-end audits. This plan allows for better cash flow management and eliminates check writing and down payments. Coastal Payroll offers this program through many major insurance carriers.
Workers Compensation Management
Workers Compensation audits are performed annually by most insurance carriers and it is important for employers to easily report on workers compensation eligible wages and classification codes. Coastal Payroll provides reporting that allows employers to track workers compensation premiums each payroll. Simply provide your workers compensation classification codes and rates and your reports will generate with each payroll.