The payroll process is a critical aspect of any business, responsible for ensuring that employees receive their salaries accurately and on time. It also plays a significant role in complying with various tax and regulatory requirements. Historically, businesses have relied on manual payroll systems, but with the advent of technology, payroll software [...]
The United States economy has been experiencing a sharp increase in inflation in recent times, with prices soaring at an unprecedented rate. In response to this, the federal government has announced a series of individual payroll tax adjustments for the year 2023, which could potentially help alleviate the effects of high inflation [...]
As we usher in a new year, fresh challenges await on the payroll front. Indeed, the year 2023 will be an interesting one for payroll, as novel trends emerge and existing rules are modified. As an employer, it’s important to know what payroll challenges may be in store for 2023 and the [...]
Selecting a New Payroll Provider Before you can say goodbye to your old payroll provider, you need to pick a new one. If you haven’t already done this, here’s how in a nutshell.First, make a list of all the payroll features you need, such as filing taxes and administering direct deposits of [...]
While payroll deals with compensating employees, human resources takes care of employee relations. Although the two departments have distinct roles in an organization, they also share functions that are crucial for the organization’s success. Integrating human resources and payroll can reduce paperwork, allows automatic updating and reduce difficulty in providing consolidated reports. [...]
For all full-time employees, 7.6 is the average number of paid holidays in the U.S. Professional and technical staffers average 8.5 paid holidays, while clerical and sales employees average 7.7 paid holidays. Blue collar and service workers have, on average, seven paid holidays. The most common in the U.S. are: New Year’s [...]
We continue our part two in this in-depth article on how to reduce stress from Payroll. If you missed part one, you can read it here. Continuous Training Whether your payroll team is small or large, you must make an investment in their professional growth and on-going training and education. Employees who [...]
Rest assured, you are not the only one who finds payroll processing days to be the most stressful time of the week. If you are a small business owner, human resource professional, or an accountant, you may find payroll management to be a time-consuming task. The possibility of miscalculation, failure to meet [...]
This is part two of our guide on "Good Payroll Practices for Small Business". To read part 1, click here. There are factors that small businesses owners must consider before choosing the payroll system to use in a firm. These factors include: Budget: Budget indicates resources available for a business to spend. [...]
Payroll management is one of the daunting tasks that businesses, especially small-scale firms, find challenging. However, it is a primary and inevitable activity for every business. Sometimes, payroll issues can lead to low employee morale, tie up firm resources, and in extreme cases, crumble down well-established companies. To help, we've comprised a [...]
