Payroll

Most companies spend 20% to 30% of their annual revenue on payroll. The exact amount varies based on the employer's size, industry, and staffing and operational needs. In some industries, such as service, it's not uncommon for payroll to encompass up to 50% of revenue....

06 September, 2021

You may have a good reason to change your payday, but before you make your move, be sure to take into account various rules and implications. 1. Fair Labor Standards Act The FLSA requires prompt payment of wages but does not specifically address pay frequency or payday...

30 August, 2021

If your business has only one location, you need to worry about federal law and applicable state and local laws for only that single location. But if you're operating out of multiple states, you must heed federal law plus the rules for all the different...

23 August, 2021

Paperless payroll is a paper-free payroll process that has become hugely popular in recent years. But despite the groundswell of support for paperless payroll solutions, employers should examine the details before making the switch. Six pros of paperless payroll Electronic storage — Stores payroll documents on...

16 August, 2021

The general consensus is that under federal law employers can deduct negative paid leave balances from an employee's final wages. However, it would benefit you to look deeper, as there are subtleties at play. Deducting Negative Leave Balances From Nonexempt Employees' Wages   The U.S. Department of Labor...

09 August, 2021

If your payroll provider handles your payroll-processing responsibilities, you might not see the need to learn the ins and outs of calculating net pay. But imagine an employee seeking clarification on his or her take-home pay — do you know all the details? It's important to...

28 June, 2021

Shift differential refers to the extra, or premium, pay that certain employees receive for working outside normal business hours. For example, if normal business hours run from 8 a.m. to 5 p.m., shift differential would apply to hours worked between 5 p.m. and 8 a.m. Shift...

23 June, 2021

Many companies subscribe to myths about payroll. Let us "bust" them for you. 1. I don't have enough employees to use a payroll service   Even if you have only one employee, there's still a lot to be done in terms of payroll. Ultimately, you must ensure that...

14 June, 2021

In 2016, the National Automated Clearing House Association (NACHA) reported that 82 percent of U.S. employees are paid by direct deposit, jumping from 74 percent in 2011. Clearly, direct deposit is on the rise. But you may be surprised to learn that, according to the NACHA...

10 June, 2021

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