Payroll Execution Add-On
We Don’t Just Record Payroll — We Run the Workflow.
Payroll requires relentless consistency. For a scaling MSP, the gap between "running payroll" and "accounting for payroll" is where financial visibility is often lost. With this add-on, Financials 360 moves from passive recording to active execution.
What We Handle
When you choose the Payroll Add-On, we take ownership of the processing cycle within your existing payroll platform (Gusto, ADP, Rippling, etc.):
- Data Submission: We process pay runs based on your approved salary, hourly, and commission data.
- Cycle Monitoring: We track pay schedules and submission deadlines, so no one is ever paid late due to an internal "fire drill."
- Journal Integrity: We record detailed payroll journals, ensuring liabilities (taxes, 401k, benefits) match your bank activity exactly.
- Real-Time Alignment: Your financial records stay current with every pay run—no waiting for month-end "catch-up" entries.
- Completion Confirmation: We monitor the process through to completion, ensuring tax impounds and direct deposits are successfully initiated.
Why MSPs Choose This
- Eliminate "Key Person" Risk: Payroll shouldn't stop because your Office Manager is on vacation. We provide institutional redundancy.
- Focus on High-Value Ops: Your leadership team should be reviewing gross margins, not double-checking if the "Submit" button was clicked in the payroll portal.
- Liability Alignment: We verify that tax impounds, 401k contributions, and benefit deductions match your bank activity exactly, preventing "ghost" liabilities from sitting on your balance sheet.
Service Scope Comparison
| Feature | Core Bookkeeping | Payroll Add-On |
|---|---|---|
| Record Payroll Totals | Included | Included |
| Reconcile Wage Payments | Included | Included |
| Data Entry into Payroll Portal | Client Handles | Financials 360 Handles |
| Submission & Deadline Tracking | Client Handles | Financials 360 Handles |
| Journal Entry Customization | Standard | Deep Departmental Mapping |
Built for Operational Ownership
Our add-ons are designed for firms that want more than bookkeeping—they want financial processes handled from start to finish. When Financials 360 manages both the execution of the workflow and the recording of the results, your financial data reflects what actually happened, without extra handoffs or follow-up.
Service Limitations & Disclaimers
- Final Approval: Financials 360 will not "finalize" a payroll run without written or portal-based approval from the Client’s authorized representative.
- Compliance & HR: We do not provide HR services, labor law advice, or workers' comp audits. Client is responsible for compliance with FLSA and state-specific labor regulations.
- Funding Responsibility: Client must ensure the payroll bank account is fully funded at least 48 hours prior to the pay date. Financials 360 is not responsible for NSF fees or delayed payments due to insufficient funds.