Payroll

Payroll accounting is about recording your payroll expenses in your accounting system. These recordings are called "payroll journal entries," which can be made in your payroll journal and then posted to your general ledger. Or they can be recorded directly in your general ledger. To understand...

05 March, 2020

The fluctuating workweek method of calculating overtime has been on the books for decades. The Supreme Court first approved the method in 1942, shortly after the Fair Labor Standards Act (FLSA) was enacted [Overnight Motor Transp. Co. v. Missel, 316 U.S. 572 (1942)]. Moreover, Department...

05 February, 2020

Bonuses are a form of variable pay that are used to inspire employee loyalty or reward performance, and it's essential to know about the different kinds. Discretionary Bonuses   A bonus is discretionary if it's given solely at the employer's discretion and does not cause an expectation of...

08 January, 2020

You may have overpaid an employee because someone entered the wrong information into the system. Or maybe the employee or his or her supervisor submitted inaccurate data. Either way, this type of error is usually easily fixable. You do have to follow certain procedures, however. Reclaiming...

03 January, 2020

Legal hassles can arise when you give references for former employees. These former employees might turn around and sue your organization for defamation. Here's a quick review of the ins and outs of giving references for former employees. First the facts: Defamation involves communicating false information. Defamation...

02 October, 2019

Employee morale is a measurable, controllable expense. That's the position of Carol Hacker, author of "The High Cost of Low Morale." And according to Hacker, employers and workplace leaders "can beat the negativity that saps employees' energy." Employee morale involves the attitudes of individuals and groups...

18 September, 2019

The Federal Equal Pay Act (EPA) has been on the books for almost a half a century. President Kennedy signed the legislation in 1963, but it hasn't wiped out unequal pay — nor accusations about it. The Equal Employment Opportunity Commission (EEOC) has made a...

04 September, 2019

Paid time off (PTO) policies aren't new. The basic concept is to allot employees a fixed number of days into a PTO "bank" for which they can be paid while not working, without designating the time off as sick leave, vacation or personal days. A 2016...

28 August, 2019

Payroll processing is the core of any business. If you aren’t paying your workers, you soon won’t have a business. As companies grow, payroll becomes tougher to handle with taxes and compliance, which subsequently puts unwanted stress on the company. You may think that outsourcing your...

21 August, 2019