Education

Payroll Vocabulary: Common Payroll Terms You Should Know

Whether you are a Business Owner, Finance Director, HR Specialist or Office Manager, there are certain terms relating to payroll that you should absolutely become familiar with. No matter what your level of involvement is with payroll at your company or organization, we’ve put together an alphabetical list of some of the most common terms that you should know. 1. Accrue – This means to build up or accumulate.  As...

Employees Submitting a New W-4

Employees submitting a new W-4 can do so any time they have changes. Often, they’ll submit a new form when they know they’ll be changing exemptions, adjustments, deductions, or credits on their return. For example, an employee may want to increase their withholding by decreasing the number of dependents they claim. Or they might want to add dependents to decrease the amount withheld. Life events such as marriage, divorce,...

New I-9 Form Will Be Mandatory Starting in September

From shrm.org: “The newest version of the Form I-9 was published by U.S. Citizenship and Immigration Services (USCIS) on July 17th, 2017. The form, used by employers to verify employment eligibility, will be mandatory beginning September 18th, 2017. “Employers will be able to use this revised version or continue using Form I-9 with a revision date of 11/14/16 N through September 17,” the agency said. “On September 18, employers must use...

Handbook Policies to Revisit

In today’s constantly changing and fast-paced workplace, it is recommended that all business owners revisit their employee handbooks every so often and consider updating them to reflect current trends. The idea that employee handbooks are just boring stacks of basic policies can unfortunately lead many businesses to become stagnant in their routines. Because of this, many forget to employ creative and strategic policies that can provide important benefits to...

How Much Can You Save With Automated Timekeeping?

There are many benefits of installing an automated time & attendance system within any organization. Improved accuracy of data, decreasing the burden of whoever oversees payroll and increased productivity among employees and staff to name a few. Most importantly though, automating your time & attendance system results in continuous cost savings for your company. Consider the following basic example: Doug is an employee that makes $11.00 an hour One...

Labor Law Posters: What You Should Know

Believe it or not, there are over 2,000 different types of labor law posters in the United States. If you are a new business owner trying to figure out the ins and outs of making sure your company is following correct compliance procedures, one of the first things you should educate yourself on are labor law posters. In a nutshell, labor law posters explain employees’ rights and employers’ responsibilities....

How Long Should I Keep My Tax Records?

So you’ve filed your taxes and are patiently waiting for your refund check to arrive in the mail or for the money to be deposited into your account. If you’re anything like me, you hate clutter and paperwork to accumulate so you are thinking of shredding your W-2 and other documents you used to file your returns. Not so fast! Some of this paperwork is still very important and...

What Information Do I Need to Switch Payroll Companies?

So you’re a small business owner or HR professional that has determined your current payroll provider isn’t meeting your needs and requirements in order to continue your relationship with them and are ready to make a change. You have done your research and due diligence and have decided which payroll company you are ready to switch over to. The question now is what information will your new payroll company...

The Payroll Factory® is SSAE-16 Compliant

As of March 31, 2016, The Payroll Factory® has achieved third party validation under the SSAE-16 Type I certification. What does this mean? SSAE-16, a widely recognized auditing standard established by the American Institute of Certified Public Accountants (AICPA), is the authoritative guidance demonstrating that The Payroll Factory® has undergone an independent in-depth audit, including testing of The Payroll Factory®’s control activities over its payroll services. SSAE-16 continued endorsement helps provide...

How Much Will It Cost To Put My Employees On Payroll?

Working as a payroll sales consultant, the question I hear most from new business owners looking to setup payroll for the first time is usually how much it is going to cost them as a business owner once they start paying their employees on payroll. In some rare instances, they have no idea that they are subject to paying more than just the salary or hourly rate of the...