Do you know what payroll history is? It’s important payroll information that can help you avoid errors and maintain your business records.
Learn more about payroll history and why it’s important to your business.
Continue reading “Why Is Payroll History Important to Your Business?”
Does your business have enough money to pay off debts? If you aren’t sure, then you need to learn about liquidity. Continue reading “What Is Liquidity?”
Conducting regular pay audits can help you pay your employees fairly. Find out why you might conduct a pay audit and how to do so. Continue reading “How to Conduct a Pay Audit”
Do you think an employee is stealing time from your company? There are many types of employee time theft. And, worker time fraud can be expensive for your business.
Let’s say you have an employee who steals 15 minutes of time per shift, and they work five times per week. The employee earns $10 per hour. Because of the employee’s time theft, you would pay out $12.50 per week for time the employee didn’t really work. That might not seem like much now, but those wages can add up.
Now, let’s say you have 10 identical employees who do that. You would lose $125 per week, totaling up to $6,500 per year. By preventing time theft, you can save your business money.
Luckily, there are ways you can prevent and spot time theft. Below, you’ll learn about the types of time theft, then you’ll learn what you can do about it. Continue reading “Time Theft: What it Is and How to Stop It”
At some point, you might need to convert an independent contractor to an employee.
You might have worked with a contractor several times, but now you want to hire them as an employee. For example, you might have used an independent contractor to periodically assist with your business’s marketing, but now you want to hire them as an employee who permanently works for you.
Or, you might have misclassified an employee. You labeled a worker as a contractor when you should have labeled them as an employee. If this happens, you need to convert them immediately.
Learn how to convert independent contractors to employees below. Continue reading “How to Convert a Worker from Contractor to Employee”
Of course, you want to trust the people you hire to work at your small business. But sometimes, you get a bad apple.
Employees might steal money, goods, and knowledge from your business. You need to implement employee theft prevention strategies before fraud starts.
Below we’ll look at types of employee theft, followed by employee theft prevention tips. Continue reading “5 Employee Theft Prevention Tips”
You run your own business, but are you considered self-employed? The definition of self-employment can be confusing.
What does self-employment mean? Find out below. Continue reading “What Does Self-employed Mean?”
When you’re trying to decide how often to pay employees, you’ll realize there are several options. Common pay frequencies include weekly, biweekly, semi-monthly, and monthly. You might also consider the less common quarterly pay frequency. Continue reading “Can Employees Be Paid Quarterly?”
The benefits of direct deposit are numerous. You can easily pay employees no matter where they are located. Employees gain immediate access to their pay as soon as it’s deposited in their bank accounts.
To start benefiting from direct deposit, learn how to set up direct deposit for employees at your business. Continue reading “How to Set Up Direct Deposit for Employees”
When you are tracking your business’s financial health, you will track many indicators. And if you are seeking money from investors and creditors, they will want to see these numbers, too. Operating income is one of the numbers you should calculate. Continue reading “What Is Operating Income?”
