Halloween is a time for trick-or-treating, drinking warm cider, and a little bit of light-hearted fright. Whether you’re celebrating with candy, costumes, or simply enjoying the amazing pumpkin-flavored everything that comes with the season, you shouldn’t have to deal with a scary payroll. Processing payroll should be a breeze, so be aware of these terrifying mistakes that could screw up your employees’ paychecks so you can rest easy this Halloween season.
Let’s face it, there isn’t a single payroll solution that works for every company across the board. There are many factors that go into making the best decision, ranging from company size to industry. In fact, even once you’ve narrowed it down to a single method of processing payroll there are still dozens of businesses and resources to choose from, so it isn’t difficult to find yourself using a means of processing payroll that is not the most efficient for your business. However, it’s important to consider all options to make sure you’re using the best method for your company. Here is a list of factors you should consider when narrowing down your payroll method in order to help you make that important decision.
Payroll and modern HR are key components to a successful business. So if your current payroll provider isn’t accurate, reliable, or timely, how can you expect your business to succeed? The sad fact is many business owners and HR leaders settle for stressful and unpredictable HCM service because switching to a new provider can be just as hectic. But your business can effectively switch to trusted, reliable service by asking one question.
The IRS is infamous as a daunting government agency. You’d be forgiven for conjuring some not-so-positive adjectives about their paper forms, confusing acronyms, and complex tax filing processes. But with the new Taxpayer First Act law, the IRS is making moves to change its kafkaesque perception. Signed into law earlier this month, it sets deadlines and some new processes to move the agency into the 21st Century. Let’s take a look at how the new law impacts HR and payroll professionals.
You are probably aware that payroll software can save you many hours a week, but if you’re reading this, you’ve probably decided to ignore your other payroll friends and continue to manually enter employee hours and data. You continually come up with excuses such as “I’m too busy to switch,” “the cost is too high,” or my favorite, “if it ain't broke – don’t fix it!”
Pay periods determine how often you run payroll and how frequently your employees get paid. The balance lies in choosing a pay period that minimizes the cost of running payroll and abiding by state law, while simultaneously giving employees a pay schedule they can rely on. As businesses grow, there are a myriad of reasons to change their payroll frequencies. Regardless of the reason, there are a few things to consider before making the switch.
Outsourcing payroll is a common practice in the modern business world. After all, there is no denying the time and money you can save by bringing in a third party software to assist with the intricacies of payroll. While processing payroll in-house is definitely a viable solution, whether it’s through manual bookkeeping or a variety of payroll apps, even small business owners are starting to see the benefits of outsourcing.
Some sort of payroll process is necessary for nearly any business, regardless of its industry. However, there are some industries that need more than just basic payroll software in order to better run their day-to-day processes. Chief among these is the manufacturing industry. Whether it’s assembly work, machine operation, packaging, shipping, or supervising, organizations in this industry need to have a payroll software that can handle the intricacies of running a manufacturing business.