{"id":18736,"date":"2016-02-04T22:47:06","date_gmt":"2016-02-05T03:47:06","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2016\/02\/business-report-make-the-payroll-process-work.html"},"modified":"2017-11-08T13:37:51","modified_gmt":"2017-11-08T18:37:51","slug":"business-report-make-the-payroll-process-work","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2016\/02\/business-report-make-the-payroll-process-work\/","title":{"rendered":"Business Report: Make The Payroll Process Work"},"content":{"rendered":"
\n
\"jeannine\n<\/div>\n
\nJeannine Dubiac is the owner of Priority One
\nPayroll LLC based in Malta.\n<\/div>\n<\/div>\n

BY JEANNINE DUBIAC, FPC<\/p>\n

Payroll should be that process that just flows.
\nAs a business owner you know first-hand that
\nyour employees need to be paid on time, correctly,
\nevery time.<\/p>\n

Unfortunately, for many companies, it’s anything
\nbut smooth. Staying on top of payroll can
\nbe a time-consuming and stressful process, especially
\nwhen relying on outdated payroll methods
\nto get the job done. With the multiple of IRS and
\nstate penalties looming over every business, and
\ngreat employees anxiously waiting for payday, it’s
\nbest to adopt the most efficient payroll tools and
\nresources at an organization.<\/p>\n

To avoid unnecessary payroll-induced headaches,
\nfor employers and employees alike, here
\nare a few suggestions to help improve efficiencies
\nin your payroll process.<\/p>\n

1. Managing payroll.<\/p>\n

Issue: Undertaking various job duties and
\ntitles is often a necessity skill for business owners.
\nUnfortunately, the more tasks there are to juggle,
\nfrom marketing to human resources to accounting,
\nthe greater likelihood of dropping the ball
\non one of the many fine details related to payroll
\nand payroll taxes.
\nSolution: Rather than managing payroll,
\namong a heap of other things, consider freeing
\nup more time and resources by using a payroll
\nservice provider. Administrative and back-office
\nactivities, such as payroll, are perfect to leave
\nto experts because they’re typically considered
\nnon-core, non-revenue generating function of
\nthe business.<\/p>\n

Payroll services are typically an inexpensive
\nalternative to the ever increasing fines and penalties
\nthat can be assessed by the IRS and state
\nagencies for missing or filing an incorrect payroll
\ntax payment. Note: If the payroll service makes the
\nerror, they pay the fine.<\/p>\n

With an efficient payroll provider, you take
\nthe stress out of paydays and can focus more on
\ncore business, cutting costs, minimizing risks and
\nmaking money.<\/p>\n

2. Tracking time.<\/p>\n

Issue: Sifting through a seemingly endless
\namount of records and documents to determine
\npayroll hours for your employees is anything but
\nefficient. While filling in time sheets can be helpful
\nwhen it comes to determining profitability, billing
\nclients and tracking big projects, it is a universally
\ndreaded process (when it doesn’t have to be).<\/p>\n

Solution: The easiest way to take this payroll
\nprocess to the next level is evaluate your current
\ntime keeping method and invest in electronic time
\nkeeping applications.<\/p>\n

Electronic time keeping solutions are in abundance
\non the internet and from payroll service
\nproviders. These solutions provide a streamlined,
\ninexpensive solution that can be customized to a
\nbusiness owners particular needs. Implementing
\ntime-tracking applications can help employees
\nbetter manage their schedules, as well as ensure
\nthat time sheets are accurate and up to date.<\/p>\n

3. Calculating benefit time accruals.<\/p>\n

Issue: Keeping up with each employee’s vacation
\nand sick days can make payroll a nightmare.
\nCalculating vacation accrual and tracking absences
\nis a necessary part of determining payroll,
\nbut it doesn’t have to eat up so much time or
\nadministrative costs.<\/p>\n

Solution: Determine if your company is best
\nsuited by offering vacation, sick and personal time
\nor if a combined bank of time, such as PTO or
\npaid time off, would provide an added benefit to
\nthe ever-changing needs of your staff. Investigate
\nhaving the payroll provider calculate the company
\npolicy with each payroll.<\/p>\n

Employees time earned and used can generally
\nbe programmed to calculate and display the current
\navailable balance on employees’ pay stubs, leaving
\ncalculating the accruals to the experts. There
\nare pros and cons to everything. No polices are
\nperfect. Benefit time policy is not different. An
\nemployer can create a policy that works best for
\ntheir company and its employees. There is value
\nto a policy that is easy to understand, administer
\nand enforce.<\/p>\n

4. Filing taxes.<\/p>\n

Issue: No one enjoys filing taxes. It’s a tedious
\nprocess that eats up valuable time and resources
\nand, when done incorrectly or late, can result in
\nhefty penalties that no one wants.<\/p>\n

Solution: Using a payroll service to offer automated
\ntax filing. Relieve your headache from
\ntracking the various due dates for the different
\ntypes of payroll taxes. Stay in compliance with the
\nelectronic filing requirements. Most federal and
\nstate agencies require that payroll tax deposits be
\nmade electronically and, in many cases, originated
\none day prior to the due date to ensure the taxing
\nagencies receive their money when it is due.<\/p>\n

In the end, the key to staying in compliance
\nin the payroll world is to stay up to date with
\never-changing regulations. The IRS typically
\nreleases new payroll information for the coming
\nyear in early December. Knowing these changes
\nand deadlines is the first step to creating a better
\npayroll process.<\/p>\n

Dubiac is the owner of Priority One Payroll LLC,
\na privately owned local payroll service provider
\nin Malta.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Jeannine Dubiac is the owner of Priority One Payroll LLC based in Malta. BY JEANNINE DUBIAC, FPC Payroll should be that process that just flows. As a business owner you know first-hand that your employees need to be paid…<\/p>\n","protected":false},"author":121,"featured_media":25277,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,37],"tags":[],"class_list":["post-18736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-reports","category-office-hr-employment"],"yoast_head":"\r\nBusiness Report: Make The Payroll Process Work - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2016\/02\/business-report-make-the-payroll-process-work\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Business Report: Make The Payroll Process Work - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"Jeannine Dubiac is the owner of Priority One Payroll LLC based in Malta. 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