What kind of feeling do you get when you hear the words "Payroll"? If you feel joy and excitement, you more than likely the energetic professional who has worked their tail off and payday is the reminder of why you do it. But, if you have a sick feeling to your stomach then your more than likely the manager or business owner responsible to processing and analyzing the payroll for your team. A great deal of time is dedicated to the payroll process and management may feel anxiety because they do not have a team or outsourcing company to support with this sensitive information.
This information should have its own set of extensively documented procedures inclusive of rules and regulations, along with a dedicated employee to manage the weekly or bi-weekly processing. A dedicated employee would allow for management to stay abreast of the state and federal government changes. A simple payroll for any business would be processing the same monthly salary for one employee; while a more complex payroll may have many staff, paid different amounts each week, with frequent joiners and leavers.
With that being said, here are just a few tips:
All achievements, all earned riches, have their beginning in an idea. – Napoleon Hill
My mission is to offer the best accounting and operations solutions and tips for entrepreneurs and small to mid-size companies worldwide seeking to close their process gaps with actual solutions.