A payroll policy explains the process of payment — salary administration, timesheet keeping, wage methods, and payment schedules — keeping employees up to date on what to anticipate on payday. Your payroll management system, which details your obligations as an employer, should be such that it avoids costly noncompliance by detailing the payment of the […]
Checklists
How To Set Up and Maintain Payroll Policies
The endgame is accurate and timely employee paychecks. How do you get there? Have a payroll plan that outlines what the procedures are to get to your goal. The plan should describe how employees document and submit time. Use a reliable timekeeping system. A computer-based system is probably the most efficient, but if you still […]
How to Manage a Payroll Schedule
Learn how to create an effective payroll budget to avoid wondering how and where your money was spent. Creating a payroll budget helps you understand what percentage of your budget should go to payroll and enables you to stay on track throughout the year. Generally, payroll should account for about 15% to 30% of your […]
Your Employer Tax Obligations
Everyone needs time and energy to run and grow their business, so you’ve outsourced your payroll process. You’ve decided to go with a third-party payroll provider to handle some or all of your employment tax duties. Make sure you know about employer tax obligations. This move lightens your workload, assuming that your payroll provider is […]
How to create an effective payroll budget
Learning how to create an effective payroll budget will avoid wondering how and where your money was spent. Creating a payroll budget helps you understand what percentage of your budget should go to payroll and enables you to stay on track throughout the year. Generally, payroll should account for about 15% to 30% of your […]
Will My Noncompete Agreement Hold Up?
You may want to require employees to sign noncompete agreements to keep them from working for rival companies. This can be particularly important when working within a small community like an island. But, will this actually protect the business? The answer is … maybe. Over time, courts have become less willing to uphold strict provisions. […]
The Essentials: HR, Benefits and Payroll Checklists
Human resources, employee benefits and payroll functions are separate yet intertwined, and checklists are essential to staying on top of your responsibilities for each one. Below are examples of what might be included in these checklists. Human resource management checklist HR department plan: Lays out the structure and operation of your human resources department. Recruiting […]