Payroll is one of the most important functions a business is responsible for, and it is critical to make sure it is done correctly. As such, many businesses choose to either outsource the process to a third party firm or use payroll software to streamline the process. Below are some things you should know about both options.
Payroll deductions are costs which are applied to the checks of employees every pay period. This means that the employee’s gross pay will always differ from the net pay, due to these deductions. Some deductions are mandatory while others are voluntary. While some deductions are levied by the state, others are federal. Below is a list of them.
Payroll taxes in California are distinct from other parts of the country. It is one of many costs which extend beyond employee wages, and employers must know how to compute them, as well as what to contribute, withhold and the proper filing procedures. Below are the most important things you should know.
Many employers have questions about payroll records and how long they should be kept. The Internal Revenue Service has its own list of requirements, which you need to know. Here’s the answers to the titular question, as well as other noteworthy payroll record related questions.
Record keeping is a fundamental aspect of running a business, especially when employees are present. Their records must be correctly maintained and stored in the right location and format. Below are some additional practices which are highly recommended for maintaining employee payroll records.
Payroll setup is a process that every startup has to undergo at some point. Many business owners aren’t familiar with this, and may delegate the task to a manager or HR staff member. Regardless, it is important to familiarize yourself with the steps involved as payroll is one of the most important aspects of your business.
Research has shown that as much as 5 percent of corporate revenue is lost each year due to payroll fraud. Whether you’re a startup company or Fortune 1000 firm, such losses can have devastating consequences to the long term success of the organization. Below are some techniques for eliminating fraud in payroll.
Switching payroll providers can be a challenging process. It implies that you’re not satisfied with your existing provider and given the sensitive and complex nature of payroll this can cause significant distress. Below are some ways to properly select the right managed payroll vendor.
Payroll has become a source of stress and anxiety for many firms. This is largely due to the increase in litigation involving work time which is unpaid, with research showing that at least 90 percent of lawsuits filed within the United States involve hourly wages. While some companies choose to outsource payroll to third party firms, others are looking to managed payroll as a solution. Here are some of the most common questions involving it.
The gender pay gap has become a contentious issue in recent years. While some companies have modernized and pay their female employees the same as their male counterparts, others continue to maintain the status quo. Below are some of the advantages you’ll gain by equalizing pay for your employees.