Payroll

Your starting salaries should be competitive, fair and aligned with your budget. Many factors come into play when striking this balance, including the following: Starting Pay Considerations   The market rate for the position, based on compensation data and surveys collected from reliable sources, is the first consideration.  After...

01 March, 2021

Payroll is a mission-critical function — one that must be done even amid disasters or emergencies, such as:  Pandemics.  Storms.  Hurricanes.  Flooding.  Tornadoes.  Fires.  Earthquakes.  Terrorist attacks.  Cyberattacks.  Active shootings.  Loss of electricity.    These catastrophic disruptions can occur unexpectedly. But when it comes to payroll, you...

03 February, 2021

Although the Fair Labor Standards Act (FLSA) does not require that you give employees a pay stub, it does mandate that you keep accurate records of employees' wages and hours worked. Also, many states require that employers supply employees with a pay stub.  However, not all...

21 January, 2021

Setting up a payroll system is fairly straightforward in theory, but it does require a few significant steps that each employer will need to consider: You first have to obtain your employer identification number (EIN) and state/local ID, if necessary. Then, take care of the paperwork for...

11 January, 2021

Payroll glitches frustrate your workers, create hassles for your HR team, and can cost you money in unnecessary overpayment or penalties for compliance violations. In the past five years, employers paid more than 1.2 billion in back wages due to payroll violations.  Today's post is for SMB owners who...

06 November, 2020

Payroll and taxes are usually a confusing topic for businesses who can easily find themselves in trouble with the IRS if payroll taxes are not reported correctly. For churches and places of worship, payroll taxes can be especially tricky due to the dual-tax status of...

03 November, 2020

Whether you’re a small-business owner or an HR professional in a larger company, managing payroll can be a real hassle. The rules and regulations surrounding payroll can be complex, and often vary from region to region.  Outsourcing your payroll functions to a firm that specializes in...

12 October, 2020

The U.S. Chamber has updated the Guide to PPP Loan Forgiveness.  This guide reflects recent substantive changes made by Congress and the administration to the PPP program to provide borrowers with more flexibility. These changes include: Extending the time to spend PPP funds from 8...

23 June, 2020

Payroll accounting is about recording your payroll expenses in your accounting system. These recordings are called "payroll journal entries," which can be made in your payroll journal and then posted to your general ledger. Or they can be recorded directly in your general ledger. To understand...

05 March, 2020