Doing your own payroll, even if it’s for just one employee, usually comes with a lot of work and headaches. This is why payroll service providers have come up with ways to help make the life of payroll managers much easier. Because there are a lot of rules, laws, calculations, and other things to know, using online payroll processing services to run payroll makes more sense, since they do most of the work for you. But how do you know which payroll service is the best option for your company?
HR professionals, accountants, and payroll employees are often looking to simplify the complicated process of running payroll. Businesses and organizations of all sizes can benefit from monitoring payroll analytics, tax reports, and deduction information to effectively balance the books. But what’s the best way to easily track and identify payroll metrics? The answer: payroll reports.
With modern employees working remotely and on multiple devices nowadays, the need for increased cybersecurity is more prevalent than ever. Unprotected computers are easy targets for cybercrime, and make companies vulnerable to security breaches and hacks by cybercriminals. The risk of a security breach could be detrimental to the prosperity of a business and the digital health of its employees.
There are two classifications of employees: exempt and non-exempt. An exempt employee is not entitled to overtime pay by the Fair Labor Standards Act (FLSA), even if it takes 55 hours to finish their weekly workload. Exempt employees must earn a minimum of $455 per week. Non-exempt employees are protected by FLSA regulations and are paid overtime. Regardless if they’re paid hourly or a salary, they must be paid at least the federal minimum wage.
Are you responsible for running payroll for a Michigan-based business? If so, you know the stress and headaches that come with it. As a payroll manager, your job is to stay up to date with local legislation and other regulatory requirements in order to stay compliant, as well as running payroll accurately and in a timely manner.
Fall is here in Michigan. Pumpkins are on porches and the air feels crisper, cooler, and filled with the scents of autumn. As the days get shorter and colder, spring feels like a long way off, and with it, the promise of a large tax return. But it’s never too early to examine where your payroll taxes go and what they’re used for.
In today’s modern workplace it may come as a surprise that some employers choose to manually calculate time cards. Most HR and payroll professionals utilize an online payroll platform to process hours’ worked, but in the off-chance that they’re calculating time and attendance manually, there’s a few rules they need to follow for legal compliance. We’ll outline the most important rules to follow when calculating time cards manually and discuss how an automated system saves you countless hours and needless headaches.
There are many misconceptions behind outsourcing payroll that small business owners, in particular, tend to have. It makes sense; when you’re working on a limited budget, you have to make necessary sacrifices and put in a lot more manual work than those Fortune 500 companies that can use a software for pretty much every aspect of running their business. However, I’m here today to shed some light on these misconceptions and tell you a little about why I believe almost every business would benefit from payroll outsourcing.